Invinity Energy Systems (IES)

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 23.75p
   
  • Change Today:
      0.000p
  • 52 Week High: 58.00
  • 52 Week Low: 23.00
  • Currency: UK Pounds
  • Shares Issued: 191.07m
  • Volume: 181,991
  • Market Cap: £45.38m
  • RiskGrade: 324

Invinity gets order for data centre battery system

By Josh White

Date: Friday 07 Oct 2022

LONDON (ShareCast) - (Sharecast News) - Utility-grade energy storage company Invinity announced the sale of a 1.3 MWh 'VS3' flow battery system to Kinetic Solutions on Friday, for use in a microgrid providing around-the-clock power to a data centre in Arizona.
The AIM-traded firm said six Invinity VS3 batteries, with a total capacity of 1.3 MWh, would be installed alongside 400 kWp of solar photovoltaic at the data centre.

Kinetic would use the Invinity battery system to operate the centre on renewable power 24 hours a day, seven days a week, and mitigate the effects of power outages - a "frequent occurrence" in the region.

A deposit was paid, and manufacturing of the batteries was set to start shortly, with shipment scheduled for early 2023.

Kinetic Solutions was established as a distributed energy solutions provider, specialising in renewable microgrid infrastructure for commercial and industrial sites across the United States including data centres, manufacturing facilities, distribution hubs and electric vehicle charging stations.

Invinity said its vanadium flow batteries were chosen for the project due to their robustness in high-temperature environments, and their ability to perform long duration energy discharge during power outages.

"We are thrilled to be working with Kinetic Solutions on this US project that showcases the advantages of vanadium flow batteries and provides a real-world example of Invinity products generating investment tax credits for our US customers," said chief commercial officer Matt Harper.

"This deal embodies a number of positive developments: the growing awareness of the need to power data centres with renewable energy, an opportunity to work with Kinetic, an emerging expert in solar microgrids, and the receipt of US government support for energy storage through the Inflation Reduction Act.

"We look forward to delivering this project and view this application as an excellent area of opportunity for similar US follow-on business in the future."

At 1047 BST, shares in Invinity Energy Systems were down 2.47% at 21.21p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

IES Market Data

Currency UK Pounds
Share Price 23.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 58.00
52 Week Low 23.00
Volume 181,991
Shares Issued 191.07m
Market Cap £45.38m
RiskGrade 324

IES Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
31.17% above the market average31.17% above the market average31.17% above the market average31.17% above the market average31.17% above the market average
4.44% above the sector average4.44% above the sector average4.44% above the sector average4.44% above the sector average4.44% above the sector average
Price Trend
44.23% below the market average44.23% below the market average44.23% below the market average44.23% below the market average44.23% below the market average
88.12% below the sector average88.12% below the sector average88.12% below the sector average88.12% below the sector average88.12% below the sector average
Income Not Available
Growth
1.13% above the market average1.13% above the market average1.13% above the market average1.13% above the market average1.13% above the market average
12.00% above the sector average12.00% above the sector average12.00% above the sector average12.00% above the sector average12.00% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
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IES Dividends

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Trades for 28-Mar-2024

Time Volume / Share Price
12:21 830 @ 23.97p
11:29 4,614 @ 23.84p
11:09 356 @ 24.00p
09:21 168,405 @ 23.60p
10:13 1,700 @ 23.84p

IES Key Personnel

CFO Jonathan Anthony Frank Marren

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