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An announcement from Invinity Energy Systems ( (GB:IES) ) is now available.
Invinity Energy Systems has secured approval to proceed with the LODES project, involving the development of a 20.7 MWh vanadium flow battery system in the South East of England. This project, co-located with a solar PV array, is set to be the largest of its kind in the UK, enhancing Invinity’s market positioning by showcasing the capabilities of its VS3 batteries. The project, expected to cost up to £20 million, will receive significant funding from the Department for Energy Security and Net Zero, contributing to Invinity’s 2025 forecasts. The initiative is anticipated to generate ongoing revenue and positive cash flow, strengthening Invinity’s role in the growing demand for long-duration energy storage solutions.
More about Invinity Energy Systems
Invinity Energy Systems plc is a global manufacturer of vanadium flow batteries, catering to large-scale, high-throughput energy storage needs for businesses, industries, and electrical networks. The company’s batteries are designed for long-term use without degradation, making them ideal for renewable energy applications. Invinity was formed in April 2020 through the merger of redT energy plc and Avalon Battery Corporation, and it operates in major energy storage markets worldwide, including the UK, Canada, USA, and China.
YTD Price Performance: -49.22%
Average Trading Volume: 753,799
Technical Sentiment Signal: Buy
Current Market Cap: £35.8M
Learn more about IES stock on TipRanks’ Stock Analysis page.