Invinity Energy Systems PLC Launch of Next-Generation Vanadium Flow Battery

RNS Number : 5048O

Invinity Energy Systems PLC

03 December 2024

 

 

3 December 2024

 

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Invinity Launches Next-Generation Vanadium Flow Battery

ENDURIUM™ builds on the widely deployed VS3 product to offer greater storage capacity and improved efficiency all at lower cost

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage, today formally launches ENDURIUM™, the Company's next-generation vanadium flow battery, for general sale.

 

 Above: A rendered image of Invinity's new ENDURIUM vanadium flow battery

 

ENDURIUM, previously code-named "Mistral", is an evolution of the Company's proven vanadium flow battery technology optimised for use in large-scale energy storage projects of up to a gigawatt-hour and beyond. ENDURIUM is available in configurations optimised for discharge durations spanning 4 to 18 hours and offers a number of key product improvements including a lower cost of storage, greater energy density, simplified maintenance and improved round-trip efficiency, while retaining the existing safety, durability and longevity benefits already proven by Invinity's previous product generations.

 

First shipments of ENDURIUM are on track to commence before the end of 2024. Confirmed customers include Gamesa Electric (announced 27 September 2024) and Everdura Technology Co. (announced 9 June 2023). As previously disclosed, ENDURIUM has also been selected for 84 MWh of projects backed by the U.S. Department of Energy (DOE) and qualifies as a Stream 2 technology for use in projects intending to operate under the UK Government's recently announced LDES Cap and Floor Scheme.

 

Invinity has already carried out significant testing of ENDURIUM in cooperation with its joint development partner, Gamesa Electric. The Company is pleased to note those test results have been independently reviewed by DNV, a world leader in testing and certification across the energy value chain, to confirm conformity with published specifications and operating parameters.

 

For the UK and European market, ENDURIUM is proudly Made in Britain at Invinity's facilities in Scotland. The Company also has facilities in Canada and the USA and expects to meet enhanced U.S. domestic content requirements from 2026.

 

Invinity will be holding a global webinar series for potential customers and partners commencing Thursday 12 December. Parties with a commercial interest in the product can register to join via this link. Recordings of the presentations will be made available to Invinity's investors on the Company's website shortly after their conclusion.

 

Visit Invinity's website for further information on ENDURIUM and to contact the Company's sales team to discuss commercial opportunities.

 

Jonathan Marren, Chief Executive Officer at Invinity said:

 

"I'm delighted to officially launch ENDURIUM, our next-generation vanadium flow battery. As a Company, our activities are focused on accelerating global progress towards net zero and today's launch marks another important step forward in unlocking low-cost, low-carbon energy on demand for all.

 

"The commercial release of ENDURIUM is an important milestone for Invinity and an essential step on our pathway to profitability. We would not have achieved this without the hard work and dedication of every member of the Invinity team and the support of our partners, customers and shareholders along the way. Thank you to everyone who has helped make ENDURIUM a reality. I'm very excited for the next stage in our journey."

 

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 Executive Officer Joe Worthington, Senior Director, Corporate Affairs
Canaccord Genuity (Nominated Adviser and Joint Broker)	[phone]
Henry Fitzgerald-O'Connor / Harry Pardoe / Charlie Hammond
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 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 [phone] or [e-mail].

 

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