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Invinity Energy Systems ( (GB:IES) ) has shared an announcement.
Invinity Energy Systems has announced that the U.S. Department of Energy’s Pacific Northwest National Laboratory (PNNL) has commenced testing of its vanadium flow battery at the new Grid Storage Launchpad in Washington. This testing, initiated by U.S. Energy Secretary Chris Wright, marks a significant milestone for the Department of Energy’s investment in advanced energy storage. Over the next year, the battery will undergo rigorous testing to evaluate its potential in supporting the U.S. grid, providing valuable insights for grid-scale storage technologies. This collaboration with PNNL is a crucial validation of Invinity’s technology, enhancing its position in the U.S. energy storage market.
The most recent analyst rating on (GB:IES) stock is a Hold with a £18.00 price target. To see the full list of analyst forecasts on Invinity Energy Systems stock, see the GB:IES Stock Forecast page.
Spark’s Take on GB:IES Stock
According to Spark, TipRanks’ AI Analyst, GB:IES is a Neutral.
Invinity Energy Systems’ overall stock score is primarily impacted by its poor financial performance, with significant losses and negative cash flow. While technical indicators and valuation metrics are weak, recent strategic initiatives and corporate events provide some positive outlook. The company’s ability to execute on its strategic plans and improve financial metrics will be crucial for future performance.
To see Spark’s full report on GB:IES stock, click here.
More about Invinity Energy Systems
Invinity Energy Systems plc is a global manufacturer specializing in vanadium flow batteries designed for large-scale, high-throughput energy storage needs of businesses, industries, and electrical networks. The company’s batteries are known for their durability, operating continuously without degradation for over 30 years, making them ideal for demanding 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.
Average Trading Volume: 449,351
Technical Sentiment Signal: Sell
Current Market Cap: £102.4M
See more data about IES stock on TipRanks’ Stock Analysis page.