Invinity announces significant battery sale to Taiwan
By Josh White
Date: Tuesday 03 Oct 2023
(Sharecast News) - Invinity Energy Systems announced a significant sale of vanadium flow batteries (VFBs) to Taiwan's National Applied Research Laboratories (NARLabs) on Tuesday.
The AIM-traded firm said it would supply NARLabs with five Invinity VS3 VFBs, amassing a combined capacity of 1.1 MWh.
Positioned at the NARLabs laboratory in Taipei, the VFBs would fulfil a dual-purpose role - offsetting the facility's electricity consumption during peak demand periods and furnishing backup power during outages.
The partnership would extend beyond provision, as NARLabs intended to conduct comprehensive validation testing on the supplied Invinity technology.
That evaluation aimed to scrutinise the performance and safety of the batteries, providing a foundation for potential specification in future Taiwanese energy infrastructure projects.
NeoSurfing Industrial, a Taiwanese firm specialising in engineering, procurement, and construction, orchestrated the acquisition.
NeoSurfing would supervise the installation and commissioning of the VFBs and be accountable for their ongoing maintenance throughout the project's lifespan.
This venture was part of Taiwan's commitment to bolstering its renewable energy infrastructure to reach 27 GW of installed capacity from renewable sources by 2025, as Taiwan Power Company (Taipower) channelled $16.6bn into efforts to decentralise power grids and enhance transmission stability.
Invinity said it would start delivering the batteries in the fourth quarter, aligning with its recently disclosed commercial pipeline under the 'Base' category.
"Invinity is extremely excited to see NARLabs demonstrate the capabilities our VFBs can deliver to the Taiwanese grid and beyond," said chief commercial officer Matt Harper.
"Regional demonstrations like this help us and our customers work side-by-side to unlock our batteries' potential fully, proving we can deliver safe, long-duration and high-throughput energy storage that goes above and beyond the limited services possible using lithium solutions."
At 1445 BST, shares in Invinity Energy Systems were down 2.11% at 42.58p.
Reporting by Josh White for Sharecast.com.
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