Invinity Energy Systems PLC Official Opening of New UK Manufacturing Facility

RNS Number : 6330X

Invinity Energy Systems PLC

24 July 2024

 

 

24 July 2024

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Official Opening of New Manufacturing Facility in Scotland

Successful capital markets event held for investors and key stakeholders

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) a leading global manufacturer of utility-grade energy storage, is delighted to announce that in line with plans set out in the Company's 3 June 2024 announcement, its new Motherwell manufacturing facility was officially opened yesterday.

 

Larry Zulch, CEO, cuts the ribbon at Motherwell accompanied by Adam Howard, Director of Banking and Investments, UK Infrastructure Bank and Neil O'Brien, Chairman, Invinity

 

This facility, located in Motherwell, North Lanarkshire is approximately six times the size of Invinity's existing facility in Bathgate and will increase the Company's UK assembly capacity to over 500 MWh per year, support the creation of more than 40 new jobs in the region and enable faster and more efficient delivery of vanadium flow batteries across the UK, Europe and further afield.

 

This achievement underlines the progress Invinity is making as part of its capex-light manufacturing strategy to ensure it can meet the more than 6 GWh of global demand currently in the Company's commercial pipeline. Supported by the UK Infrastructure Bank's recent investment into the Company alongside institutional and retail investors and the UK Government's growing focus on longer duration energy storage, Invinity is well-placed to ensure its batteries can be rapidly manufactured and deployed to help accelerate the country's transition to net zero.

 

Following the official launch, the Company hosted a Capital Markets Day for investors, analysts and key stakeholders including representatives from the Scottish Government at its Motherwell and Bathgate facilities. The event was well attended and included a tour of both facilities with opportunities to meet with Invinity's Board of Directors and hear from Invinity staff and partners through a number of 'deep dive' sessions. This included a live demonstration of Invinity's batteries charging and discharging from the Scottish grid and an overview of the Company's next-generation product, codenamed "Mistral" for which the pilot manufacturing stage has been initiated ahead of commercial launch later this year.

 

 

Guests on a guided tour of the new Motherwell facility

 

The Company is in the process of producing a recording of the event which will be made available on Invinity's website in due course.

 

 

Larry Zulch, Chief Executive Officer at Invinity said:

 

"Our Motherwell facility supports key pillars of Invinity's strategy: our transformation of vanadium flow batteries from bespoke engineering projects into factory-built products, with all of the benefits of quality, cost, and consistency derived therefrom, combined with our ongoing commitment to the UK market at every level from manufacturing through to deployment. We were pleased to share the opening of this facility with our investors and stakeholders participating in our very successful Capital Markets Day."

 

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 and Investor Relations
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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