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").
15 April 2024
Invinity Energy Systems
plc
("Invinity" or the "Company")
Update on Strategic Investor
Discussions
Invinity Energy Systems plc (AIM:
IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy
storage, is pleased to provide the
following update on its discussions with strategic
investors.
The Company has made significant
progress towards securing a material investment from multiple
strategic partners who have each completed comprehensive due
diligence on Invinity and are now working towards finalising
binding investment agreements. Invinity is extremely pleased that
this includes a proposed investment by a Tier 1 investor which, if
concluded, will materially enhance the Company's business and
reputation in both the UK and internationally.
The Directors believe that this
proposed investment has stimulated further interest from other high
quality strategic partners who have all indicated their willingness
to proceed with an investment and are currently in the process of
concluding their approval processes, which have taken slightly
longer than anticipated due to the challenge of coordinating
negotiations with multiple partners across different jurisdictions.
While there can still be no certainty that all, or any, of these
parties will complete their planned investment in Invinity, the
Company expects to finalise investment agreements with these
partners in the coming weeks.
Invinity views strategic
relationships as a key part of the Company's strategy to grow
market share within core markets and continue implementing a
licencing and royalty-focussed growth programme in other markets,
as evidenced by the agreement with Everdura announced 26 February.
This strategy will allow the Company to remain capital light and
generate significant cash flows as it grows globally whilst
retaining tight ownership of its core intellectual property and
securing a leading position within its home markets.
A further announcement will be made
as soon as practical.
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
|
|
|
|
|
|
Canaccord Genuity (Nominated Adviser
and Joint Broker)
|
+44 (0)20 7523 8000
|
|
Henry Fitzgerald-O'Connor / Harry
Pardoe
|
|
|
|
|
|
VSA
Capital (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 / Gareth
Tredway
|
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 +44 (0)20 4551
0361 or ir@invinity.com
