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:
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Invinity Energy Systems plc
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+44 (0)20 4551 0361
|
|
Jonathan Marren, Chief Financial
Officer and Chief Development Officer
Joe Worthington, Director of
Communications and Investor Relations
|
|
|
|
|
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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
|
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.
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