Invinity Energy Systems PLC Update on Strategic Investor Discussions

RNS Number : 5297K

Invinity Energy Systems PLC

15 April 2024

 

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").

 

15 April 2024

 

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Update on Strategic Investor Discussions

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage, is pleased to provide the following update on its discussions with strategic investors.

 

The Company has made significant progress towards securing a material investment from multiple strategic partners who have each completed comprehensive due diligence on Invinity and are now working towards finalising binding investment agreements. Invinity is extremely pleased that this includes a proposed investment by a Tier 1 investor which, if concluded, will materially enhance the Company's business and reputation in both the UK and internationally.

 

The Directors believe that this proposed investment has stimulated further interest from other high quality strategic partners who have all indicated their willingness to proceed with an investment and are currently in the process of concluding their approval processes, which have taken slightly longer than anticipated due to the challenge of coordinating negotiations with multiple partners across different jurisdictions. While there can still be no certainty that all, or any, of these parties will complete their planned investment in Invinity, the Company expects to finalise investment agreements with these partners in the coming weeks.

 

Invinity views strategic relationships as a key part of the Company's strategy to grow market share within core markets and continue implementing a licencing and royalty-focussed growth programme in other markets, as evidenced by the agreement with Everdura announced 26 February. This strategy will allow the Company to remain capital light and generate significant cash flows as it grows globally whilst retaining tight ownership of its core intellectual property and securing a leading position within its home markets.

 

A further announcement will be made as soon as practical.

 

 

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
VSA Capital (Financial Adviser and Joint Broker)	[phone]
Andrew Monk / Andrew Raca
Tavistock (Financial PR Advisor)	[phone]
Simon Hudson / Saskia Sizen / Gareth Tredway	[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 over 70 MWh of systems already deployed or contracted for delivery across over 79 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 [phone] or [e-mail]

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