REG - Invinity Energy Sys - Board Changes

Invinity Energy SystemsAnnouncement

06/09/2024 07:00

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RNS Number : 1554D  Invinity Energy Systems PLC  06 September 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").

 

 

6 September 2024

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Board Changes

Jonathan Marren succeeds Larry Zulch as Chief Executive Officer

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy storage, today announces that the
Company's Chief Executive Officer Larry Zulch has informed the Board of his
intention to retire and has stepped down as CEO and from the Board of Invinity
with immediate effect.

 

Jonathan Marren, previously Chief Financial Officer and Chief Development
Officer, has been appointed as CEO on a permanent basis to lead Invinity
through the next phase of the Company's corporate journey. Jonathan will be
supported on the executive team by Chief Commercial Officer Matt Harper and a
new Chief Financial Officer, for which the Board has immediately commenced the
selection process.

 

 

Neil O'Brien, Non-Executive Chairman at Invinity said:

 

"Invinity was created out of a transatlantic merger executed at the very peak
of the COVID crisis. Larry led the Company through a period of unprecedented
disruption and out the other side, launching a new product, the VS3 - now one
of the world's most widely deployed modular flow batteries. He has been
instrumental in the development and design of our next-generation product as
well as being a global advocate and spokesperson not just for Invinity and the
flow battery industry but for the energy transition as a whole.

 

"On behalf of the Board as well as the entire team at Invinity, I would like
to thank Larry for the dedication, hard work, wisdom and skill he has brought
to his four years as CEO at Invinity. We wish him all the best in his
retirement."

 

 

Larry Zulch, Chief Executive Officer at Invinity said:

 

"It's been a privilege to have led Invinity from its inception in April 2020
until now. Our incredibly talented and dedicated team has successfully
commercialised modular flow batteries and proven their position as the leading
alternative to lithium-ion for stationary energy storage.

 

"The launch of our next-generation product, scheduled for later this year,
will mark the next phase in Invinity's journey, making now the right time to
hand over leadership. I have every faith in Jonathan, Matt, and the entire
Invinity team continuing Invinity's journey toward playing a vital role in our
net zero future. I will be a strong supporter, now in my capacity as a
shareholder rather than an executive."

 

 

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
 Neil O'Brien, Non-Executive Chairman

 Joe Worthington, Director of Communications and Investor Relations

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

 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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