REG - Invinity Energy Sys - 4 MWh Sale to California PV + Storage Project

Invinity Energy SystemsAnnouncement

17/06/2024 07:15

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RNS Number : 5965S  Invinity Energy Systems PLC  17 June 2024

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."

 

Stay up to date with news from Invinity. Join the distribution list for the
Company's monthly investor newsletter here
(https://invinity.com/newsletter/?utm_source=iesrns) .

 

Enquiries:

 

 Invinity Energy Systems plc                                                +44 (0)20 4551 0361
 Jonathan Marren, Chief Financial Officer and Chief Development Officer

 Joe Worthington, Director of Communications

 Canaccord Genuity (Nominated Adviser and Joint Broker)                     +44 (0)20 7523 8000
 Henry Fitzgerald-O'Connor / Bobbie Hilliam / Harry Pardoe / Ana Ercegovic

 VSA Capital (AQSE Corporate Advisor, Financial Adviser and Joint Broker)   +44 (0)20 3005 5000
 Andrew Monk / Andrew Raca

 Tavistock (Financial PR Advisor)                                           +44 (0)20 7920 3150
 Simon Hudson / Saskia Sizen / Adam Baynes                                  invinity@tavistock.co.uk (mailto: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 (https://invinity.com/?utm_source=rns) ,
sign up to our monthly Investor Newsletter here
(https://invinity.com/newsletter/?utm_source=iesrns) or contact Investor
Relations on via +44 (0)20 4551 0361 or ir@invinity.com
(mailto:ir@invinity.com) .

 

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