Board Changes

RNS Number : 5671V

Invinity Energy Systems PLC

10 August 2020

 

This announcement contains inside information

10 August 2020

Invinity Energy Systems plc

("Invinity" or the "Group")

Chief Financial Officer and Director Appointment

Invinity Energy Systems plc (AIM:IES), manufacturer of vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks, announces the appointment of Peter Dixon-Clarke to the Board of Invinity and to the role of Chief Financial Officer, effective immediately.

Peter has 30 years' experience in senior finance roles, primarily in the energy sector as well as financial services. His most recent CFO roles were at Kuwait Energy Company plc, Hotspur Geothermal ltd and AIM-listed Rockhopper Exploration plc. Peter qualified at Deloitte as a chartered accountant and will conduct his global responsibilities out of Invinity's London offices.

Following Peter's appointment, Fraser Welham has stepped down from his role as Chief Financial Officer and from the Board of Invinity, but will remain with the Company for a period to assist in the transition. Fraser has been a valued member of the Company's executive management team since his appointment in April 2018, and has made an important contribution to the Group during his tenure as CFO, most recently playing a key role in the successful completion of the merger and associated fundraise to form Invinity Energy Systems.

Neil O'Brien, Non-Executive Chairman of Invinity said:

''Creating Invinity Energy Systems during a global pandemic from two companies an ocean apart was a tremendous challenge. We met that challenge in large part because of Fraser's commitment to achieve a successful outcome and are extremely grateful for his overall contribution, knowledge, and professionalism. I'm thrilled that Peter is joining us, bringing an impressive depth of experience, a steady hand, and an enviable amount of energy and enthusiasm."

Save as disclosed below, there are no other matters which are required to be disclosed in relation to Peter Dixon-Clarke, aged 54, in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies:

Whilst employed at Amlin plc ("Amlin"), Mr Dixon-Clarke was appointed as a director of Hilton Malcolm Underwriting Ltd ("HMU") on 1 April 1995 for Amlin's shareholding and resigned on 15 January 1997. On 7 August 1997 a petition for winding up HMU was presented by Amlin and on 19 November 1997 a compulsory winding up order was made and liquidators were appointed. Amlin was the only creditor.

Enquiries :

Invinity Energy Systems plc	[phone]
Larry Zulch, Chief Executive Officer
Peter Dixon-Clarke, Chief Financial Officer Joe Worthington, Head of External Communications
Investec Bank plc (Nominated Adviser and Joint Broker)	[phone]
Jeremy Ellis / Chris Sim / Will Fenby
VSA Capital (Financial Adviser and Joint Broker) Andrew Monk / Andrew Raca	[phone]
Hudson Sandler (Financial PR) Nick Lyon / Toby Andrews	[phone]

Notes to Editors

Invinity Energy Systems plc (AIM:IES) manufactures vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks.

Developed specifically for high-utilisation applications that make low-carbon renewable generation reliable, Invinity's highly scalable, factory-built flow battery products can run continually with no degradation, charging and discharging for over 25 years. Energy storage systems based on Invinity's batteries are safe, reliable, and economical, and range in size from less than 250 kilowatt-hours to tens of megawatt-hours.

Invinity was created in April 2020 through the merger of two flow battery industry leaders: redT energy plc and Avalon Battery Corporation. With over 10MWh of systems deployed to date across 40 sites in 14 countries, Invinity is active in all major global energy storage markets and has operations in the UK, Canada, USA, China and South Africa. Invinity Energy Systems plc is listed on the London Stock Exchange.

To find out more, visit  invinity.com  or call Investor Relations on [phone].

 

END

 

 

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