Source - LSE Non-Regulatory
RNS Number : 4461O
Invinity Energy Systems PLC
03 October 2023
 

 

3 October 2023

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

1.1 MWh Sale for Taiwanese National Technology Laboratory

Invinity technology to be evaluated for use in national infrastructure projects

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) a leading global manufacturer of utility-grade energy storage, is pleased to announce a 1.1 MWh sale to Taiwan's National Applied Research Laboratories ("NARLabs").

 

The project will see five Invinity VS3 vanadium flow batteries ("VFBs") with a combined capacity of 1.1 MWh installed inside a building at the NARLabs laboratory in Taipei. The VFBs will be used to offset electricity use at the facility during peak times and provide back-up in the event of a power outage. NARLabs will also perform validation testing on Invinity's technology with the intention of verifying the performance and safety of the Company's batteries in order that they may be specified into future Taiwanese energy infrastructure projects.

 

The batteries have been procured on behalf of NARLabs by Taiwanese engineering, procurement and construction company NeoSurfing Industrial, who will undertake the installation, commissioning and ongoing maintenance of Invinity's battery for the duration of the project.

 

Taiwan aims to have 27 GW of installed capacity coming from renewable sources by 2025. Recent power outages and the need to increase resiliency in the grid means Taiwan Power Company ("Taipower") is investing US$16.6 billion to decentralise power grids and increase transmission stability. Additionally, with limited new land area available for new energy developments, the ability to deploy safe and reliable batteries, within buildings and in built-up urban environments, is an important consideration.

 

Delivery of the Invinity batteries is expected to commence in Q4 2023. The contract was included as part of the Company's Base category in its most recently disclosed commercial pipeline.

 

 

Matt Harper, Chief Commercial Officer at Invinity said:

 

"Invinity are extremely excited to see NARLabs demonstrate the capabilities our VFBs can deliver to the Taiwanese grid and beyond. Regional demonstrations like this help us and our customers work side-by-side to fully unlock our batteries' potential, proving we can deliver safe, long-duration and high-throughput energy storage that goes above and beyond the limited services possible using lithium solutions."

 

 

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

+44 (0)20 4551 0361

Jonathan Marren, Chief Financial Officer and Chief Development Officer

Joe Worthington, Director of Communications




Tavistock (Financial PR Advisor)

+44 (0)20 7920 3150

Simon Hudson / Charles Baister

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 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 via +44 (0)20 4551 0361 or ir@invinity.com 

 

 

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