Invinity Energy Systems PLC Completion of £57m Fundraising

RNS Number : 8344P

Invinity Energy Systems PLC

24 May 2024

 

 

24 May 2024

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Completion of £57m Fundraising and Total Voting Rights

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage, is pleased to announce that all conditions of the Fundraising set out in the Company's announcement of 1 May 2024 have now been met, and the Fundraising has therefore now completed, raising total gross proceeds of £57.38m for the Company.

 

Admission to trading on AIM and AQSE of the 6,011,983 Open Offer Shares, 121,739,130 Placing Shares, and 121,739,130 Subscription Shares (together the "Fundraising Shares") occurred at 8.00 a.m. this morning.

 

Following the issue of the Fundraising Shares, the issued ordinary share capital of the Company comprises 440,557,550 Ordinary Shares of €0.01 each with one vote per share. The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Other than where defined, capitalised terms in this announcement have the meanings given to them in the Announcement released by the Company at 4.44 p.m. (UK time) on 1 May 2024.

 

 

Stay up to date with news from Invinity. Join the distribution list for the Company's monthly investor newsletter here.

 

Enquiries:

 

Invinity Energy Systems plc	[phone]
Jonathan Marren, Chief Financial Officer and Chief Development Officer Joe Worthington, Director of Communications
Canaccord Genuity (Nominated Adviser and Joint Broker)	[phone]
Henry Fitzgerald-O'Connor / Harry Pardoe / Ana Ercegovic
VSA Capital (AQSE Corporate Advisor, Financial Adviser and Joint Broker)	[phone]
Andrew Monk / Andrew Raca
Tavistock (Financial PR Advisor)	[phone]
Simon Hudson / Saskia Sizen / Adam Baynes	[e-mail]

 

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 listed 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 [phone] or [e-mail].

 

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