REG - Invinity Energy Sys - Update on Strategic Investor Discussions

Invinity Energy SystemsAnnouncement

15/04/2024 07:00

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RNS Number : 5297K  Invinity Energy Systems PLC  15 April 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").

 

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
(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 / 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 (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 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 (https://invinity.com/investors/) or contact Investor
Relations on +44 (0)20 4551 0361 or ir@invinity.com

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