TIDMIES
Invinity Energy Systems PLC
09 August 2023
9 August 2023
Invinity Energy Systems plc
("Invinity" or the "Company")
Canada's Minister for Energy and Natural Resources Visits
Invinity Facility
Invinity's Vancouver facility provides backdrop for announcement
of Canada's first Clean Energy Strategy
Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX:
IESVF) a leading global manufacturer of utility-grade energy
storage , was delighted to host Canada's Minister for Energy and
Natural Resources, Jonathan Wilkinson, alongside British Columbia's
Minister of Jobs, Economic Development and Innovation, Brenda
Bailey, at the Company's newly expanded manufacturing facility in
Vancouver yesterday.
In recognition of the important role that Invinity, amongst
others, is playing in establishing Canada as a global leader in
battery manufacturing, Minister Wilkinson toured the facility and
used the visit to officially launch Canada's vision paper for a
clean, reliable and affordable grid. The Minister also announced
Canada's intention to develop the country's first Clean Energy
Strategy in 2024.
Earlier that day, Invinity's facility was the venue for a clean
energy roundtable discussion attended by Minister Wilkinson,
Minister Bailey and Dr. Ged McLean, Executive Director of the B.C.
Centre for Innovation and Clean Energy ("CICE"). They were joined
by a number of Canada's leading clean energy technology companies,
including Invinity which was represented on the panel by Chief
Commercial Officer, Matt Harper.
Canada has committed to achieving net-zero before 2050 and as
part of the 2023 Federal Budget released in March, announced a
six-year 30% investment tax credit for clean energy projects which
is expected to significantly accelerate the deployment of
renewables and energy storage across Canada in the years to
come.
Earlier this year, Invinity delivered an 8.4 MWh vanadium flow
battery, the largest flow battery project of its kind to Canadian
renewable project developer Elemental Energy's Chappice Lake Solar
Storage project in Alberta. The project, which is expected to go
live shortly, will see a 21 MWp solar array coupled with Invinity's
battery to generate low-cost, low-carbon electricity on demand for
the Alberta grid.
Jonathan Wilkinson, Canada's Minister for Energy and Natural
Resources said:
"CICE funding recipient Invinity Energy Systems is a leading
example of how Canadian companies are supporting the rapid
development of advanced renewable energy technology. Invinity is
playing an important role in establishing Canada as a global leader
in battery innovation and manufacturing, exporting Canadian
expertise from British Columbia to the world. The work of Invinity
and of other innovative companies across Canada is a crucial part
of the federal government's vision, released today, to achieve a
clean, reliable and affordable electricity grid. We are proud to
support them."
Dr. Ged McLean, Executive Director at the B.C. Centre for
Innovation and Clean Energy said:
"Invinity Energy Systems is at the forefront of vanadium flow
batteries, spearheading game-changing transformation in energy
storage to enable a resilient electricity grid. CICE is proud to
fund such huge potential to fulfill energy storage and charging
requirements for commercial, industrial and utility-grade projects
with unparalleled efficiency and reliability."
Matt Harper, Chief Commercial Officer at Invinity said:
"A clean, reliable electric grid that delivers low-cost energy
to Canadian industries, institutions and homes is critical to
achieving our country's net zero future. Technological innovation,
combined with the strengths that already exist within Canada's
industry and labour force, will be the key to delivering that
future while strengthening our domestic economy. Invinity are
thrilled to have been able to host Ministers Wilkinson and Bailey
alongside the B.C. Centre for Innovation in Clean Energy and other
participants to advance this important conversation. We look
forward to working within our industry, and with governments at all
levels, to realize the role Invinity's vanadium flow batteries will
play in building a robust, clean economic future for Canada."
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 Development Officer and
Interim CFO
Joe Worthington, Director of Communications
Tavistock (Financial PR Advisor) +44 (0)20 7920 3150
Simon Hudson / Charles Baister 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 65 MWh of systems already deployed or
contracted for delivery across over 70 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 via +44
(0)20 4551 0361 or ir@invinity.com
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