Operational Update

RNS Number : 9640V

Invinity Energy Systems PLC

17 December 2021

 

This announcement contains inside information

17 December 2021

Invinity Energy Systems plc

("Invinity" or the "Company")

Operational Update

Further to the 8 November Operational Update RNS, Invinity Energy Systems plc (AIM:IES), a leading global manufacturer of utility-grade energy storage , is pleased to provide an update on Q4 2021 project deliveries, including the successful delivery of a number of key UK and US projects.

With numerous projects in the delivery process, energised, and commissioned, the Company remains confident that showcasing system operation at prominent customer sites, thereby demonstrating Invinity's market position, will support the closure of further sales among the Company's healthy pipeline of near-term commercial prospects.

Energy Superhub Oxford (ESO), UK

In line with the previously stated schedule, the complete Invinity system comprising 27 VS3 flow batteries in three battery clusters has now been delivered, installed and energised at the ESO site.

With a total capacity of over 5 MWh, equivalent to the daily electricity needs of over 600 UK households, this is the largest flow battery installed in the UK to date. Hybridised alongside a lithium-ion battery to operate as a single energy storage asset, the combined system will be the largest directly transmission-connected battery in the UK.  

Invinity continues to work closely with its project partners - developer Pivot Power, part of EDF Renewables, global technology company Wärtsilä, battery trading optimiser Habitat Energy (recently acquired by Quinbrook Infrastructure Partners), and power electronics supplier Gamesa Electric - to complete final integration and commissioning of the battery ahead of customer handover expected in early 2022.

Scottish Water, UK

Installation and commissioning is now nearing completion for the four VS3 flow batteries delivered to Scottish Water's site in Perth, UK.

With a combined total capacity of over 0.8 MWh, the flow battery system is coupled with a 1 MWp solar array, Scottish Water's largest to date. The Invinity flow battery will enable around 94% of the renewable power generated to be used on site and help to reduce the site's energy costs by around 40%. It will also support the installation of EV chargers and cut the facility's carbon footprint by around 160 tonnes CO₂ per annum.

The Company is currently working alongside principal contractor Absolute Solar & Wind Ltd. and energy optimisation company Open Energi (recently acquired by BP) to complete final testing and integration of the battery, which is expected to become operational shortly.

European Marine Energy Centre (EMEC), UK

The 1.8 MWh Invinity flow battery system has now been manufactured and is awaiting dispatch to the customer site on Eday, Orkney.

As indicated in the 8 November Operational Update RNS, due to the risk of further delays in receipt of ancillary components and logistical challenges, factors beyond Invinity's control, the Company expects system delivery will take place in early 2022 rather than late 2021.

US Projects

Invinity is pleased to report the successful delivery, installation, commissioning and handover of two VS3 battery modules at a site in Colorado for leading renewable energy company Ameresco who will conduct a multi-stage investigation into the application of flow battery technology to microgrids in defence applications.

Further to the 8 November Operational Update RNS, the two 0.5 MWh Invinity flow battery systems for delivery into customers located in Southern California, USA are currently in transit. The Company expects that delivery will occur in early 2022.

Asian Projects

Invinity is pleased to announce the successful delivery of 0.4 MWh of projects to customer sites in Taiwan and China. Installation is currently underway with customer handover expected to occur in early 2022.

Yadlamalka, Australia

Invinity is pleased to note progress continues to be made by their project partners in respect of resuming the project as originally planned in H1 2022. The Company expects to provide an update during Q1 2022 on project progress.

Larry Zulch, Chief Executive Officer at Invinity said:

"This encouraging progress demonstrates our ability to deliver operating energy storage systems to multiple sites , a major step change in Invinity's progression from a technology company making flow batteries to a product company supplying utility-grade energy storage. Our focus on operational capabilities has enabled us to overcome recent impediments and supply-chain challenges with only minor delays.

I'm proud of our team and what they are accomplishing as Invinity and our customers support the global transition to a net zero energy system."

Enquiries :

Invinity Energy Systems plc	[phone]
Larry Zulch, Chief Executive Officer
Peter Dixon-Clarke, Chief Financial Officer Joe Worthington, Director of Communications Ralph Anderson, Corporate Relations Manager
Canaccord Genuity (Nominated Adviser and Joint Broker)	[phone]
Henry Fitzgerald-O'Connor / James Asensio
VSA Capital (Financial Adviser and Joint Broker) Andrew Monk / Simon Barton	[phone]
Hudson Sandler (Financial PR) Nick Lyon / Nick Moore	[phone]

Notes to Editors

Invinity Energy Systems plc (AIM:IES) manufactures flow batteries for large-scale, high-throughput energy storage requirements of business, industry and electrical networks.

Invinity's factory-built flow batteries run continually with no degradation for over 25 years, making them suitable for the most demanding applications in renewable energy production. 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 10 MWh 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]

 

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