The information contained
within this Announcement is deemed by Invinity Energy Systems plc
to constitute inside information as stipulated under the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by
virtue of the European Union (Withdrawal) Act 2018
("MAR").
17 June 2024
Invinity Energy Systems
plc
("Invinity" or the "Company")
4 MWh Sale to California PV +
Storage project
California Energy
Commission-funded Invinity VS3 batteries to provide on-demand solar
power for Rincon Band of Luiseño
Indians in Southern
California
Invinity Energy Systems plc (AIM:
IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy
storage, is pleased to announce a 4 MWh
sale to PowerFlex, part of EDF Renewables North America. The
batteries will be used in a California Energy Commission-funded
solar microgrid project being undertaken by the Rincon Band of
Luiseño Indians.
The project will see 18 Invinity VS3
vanadium flow batteries, with a combined capacity of 4 MWh,
installed by PowerFlex alongside a new 1 MWp expansion to the
existing PV solar array at the Rincon Band's Harrah's Resort
Southern California at the Rincon Reservation near Valley Center,
California, as part of a large-scale solar microgrid project.
Invinity's batteries will be used to store excess solar generation
which can be discharged on-demand to provide economic, low-carbon
power to the site at any time of the day or night.
California is one of the world's
fastest growing battery markets and, with 7.3 GW, has the most
installed battery capacity of any U.S. state. The California Energy
Commission is also one of the leading funders of non-lithium-ion
long duration energy storage (LDES), having already provided
support worth $140m to various projects in the State throughout
2022-23 and has $190m worth of funding programmed for in the
2023-24 State Budget. The State is targeting 52 GW of battery
storage capacity by 2045.
Delivery of the Invinity batteries
is expected to occur before the end of 2024. The contract was
included as part of the Company's Base category in its most
recently disclosed commercial pipeline.
Bo Mazzetti, Chairman of the Rincon
Band of Luiseño Indians said:
"As part of the Rincon LDES Solar
Microgrid Project, the Invinity battery system will accelerate the
Rincon Band's progress toward greater energy sustainability and
resiliency and will help the Band achieve greater energy
sovereignty through control over our own energy
resources."
Matt Harper, Chief Commercial
Officer at Invinity said:
"California continues to lead
the world in deploying longer-duration energy storage, essential to
broader adoption of renewable energy. We greatly appreciate the
policy and financial support of the California Energy Commission
and the vision it shares with Powerflex of a future electric grid
that combines reliability, low cost, and environmental stewardship.
We are inspired by how the Rincon Band has embraced that vision and
are proud to be working alongside them to make it a reality. This
project will further prove that our durable, safe vanadium flow
batteries are the ideal partner for large solar-plus-storage
projects."
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investor newsletter here.
Enquiries:
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Invinity Energy Systems plc
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+44 (0)20 4551 0361
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Jonathan Marren, Chief Financial
Officer and Chief Development Officer
Joe Worthington, Director of
Communications
|
|
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Canaccord Genuity (Nominated Adviser
and Joint Broker)
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+44 (0)20 7523 8000
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Henry Fitzgerald-O'Connor / Bobbie
Hilliam / Harry Pardoe / Ana Ercegovic
|
|
|
|
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VSA
Capital (AQSE Corporate Advisor, Financial Adviser and Joint
Broker)
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+44 (0)20 3005 5000
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Andrew Monk / Andrew Raca
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Tavistock (Financial PR Advisor)
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+44 (0)20 7920 3150
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Simon Hudson / Saskia Sizen / Adam
Baynes
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invinity@tavistock.co.uk
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Notes to Editors
Invinity Energy Systems plc (AIM:
IES) (AQSE: IES) (OTCQX: IESVF)
manufactures vanadium 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 75 MWh of systems
already deployed or contracted for delivery across 82 sites in 15
countries, Invinity is active in all major global energy storage
markets and has operations in the UK, Canada, USA, China and
Australia. Invinity Energy Systems plc is quoted in the UK on AIM
and AQSE and trades in the USA on OTCQX.
To find out more, visit
invinity.com,
sign up to our monthly
Investor Newsletter here or
contact Investor Relations on via +44 (0)20 4551 0361 or
ir@invinity.com.