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").
17 June 2024
Invinity Energy Systems plc
("Invinity" or the "Company")
4 MWh Sale to California PV + Storage project
California Energy Commission-funded Invinity VS3 batteries to provide on-demand solar power for Rincon Band of Luiseño Indians in Southern California
Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage, is pleased to announce a 4 MWh sale to PowerFlex, part of EDF Renewables North America. The batteries will be used in a California Energy Commission-funded solar microgrid project being undertaken by the Rincon Band of Luiseño Indians.
The project will see 18 Invinity VS3 vanadium flow batteries, with a combined capacity of 4 MWh, installed by PowerFlex alongside a new 1 MWp expansion to the existing PV solar array at the Rincon Band's Harrah's Resort Southern California at the Rincon Reservation near Valley Center, California, as part of a large-scale solar microgrid project. Invinity's batteries will be used to store excess solar generation which can be discharged on-demand to provide economic, low-carbon power to the site at any time of the day or night.
California is one of the world's fastest growing battery markets and, with 7.3 GW, has the most installed battery capacity of any U.S. state. The California Energy Commission is also one of the leading funders of non-lithium-ion long duration energy storage (LDES), having already provided support worth $140m to various projects in the State throughout 2022-23 and has $190m worth of funding programmed for in the 2023-24 State Budget. The State is targeting 52 GW of battery storage capacity by 2045.
Delivery of the Invinity batteries is expected to occur before the end of 2024. The contract was included as part of the Company's Base category in its most recently disclosed commercial pipeline.
Bo Mazzetti, Chairman of the Rincon Band of Luiseño Indians said:
"As part of the Rincon LDES Solar Microgrid Project, the Invinity battery system will accelerate the Rincon Band's progress toward greater energy sustainability and resiliency and will help the Band achieve greater energy sovereignty through control over our own energy resources."
Matt Harper, Chief Commercial Officer at Invinity said:
"California continues to lead the world in deploying longer-duration energy storage, essential to broader adoption of renewable energy. We greatly appreciate the policy and financial support of the California Energy Commission and the vision it shares with Powerflex of a future electric grid that combines reliability, low cost, and environmental stewardship. We are inspired by how the Rincon Band has embraced that vision and are proud to be working alongside them to make it a reality. This project will further prove that our durable, safe vanadium flow batteries are the ideal partner for large solar-plus-storage projects."
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Enquiries:
| Invinity Energy Systems plc | +44 (0)20 4551 0361 |
| Jonathan Marren, Chief Financial Officer and Chief Development Officer Joe Worthington, Director of Communications | |
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| Canaccord Genuity (Nominated Adviser and Joint Broker) | +44 (0)20 7523 8000 |
| Henry Fitzgerald-O'Connor / Bobbie Hilliam / Harry Pardoe / Ana Ercegovic | |
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| VSA Capital (AQSE Corporate Advisor, Financial Adviser and Joint Broker) | +44 (0)20 3005 5000 |
| Andrew Monk / Andrew Raca | |
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| Tavistock (Financial PR Advisor) | +44 (0)20 7920 3150 |
| Simon Hudson / Saskia Sizen / Adam Baynes |
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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