Invinity Energy Systems plc (LON:IES) is a manufacturer of vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks. The Company has today announced that four VS3 vanadium flow batteries with a total capacity of more than 0.8 MWh have been delivered to an energy project at a waste-water treatment plant owned by Scottish Water in Perthshire, Scotland.
The battery technology was assembled at the Company’s facility in nearby Bathgate and the vanadium flow battery will be coupled with solar PV generation to reduce energy costs at Scottish Water’s Perth Waste Water Treatment Works.
This project, according to Invinity, will help Scottish Water progress toward Net Zero carbon emissions targets by decreasing the facility’s carbon emissions by approximately 160 tonnes of CO2 per annum, equivalent to offsetting 580,000 miles driven by an average passenger car.
This project will also provide ancillary services to the UK grid and support EV charging at the site while maintaining Scottish Water’s high standard of operational performance in service to their customers across the region.
The Company has stated that with delivery now complete, Invinity personnel have commenced work alongside principal contractor Absolute Solar and Wind to energise and commission the system ahead of project go-live, expected by the end of 2021. Invinity is to provide updates as further commissioning milestones are achieved.
Invinity has previously stated that this project has an anticipated revenue contribution of approximately £0.7m to the Group, relating to the IES battery system itself, ancillary components and associated services.
This is excellent news! It follows recent news that Invinity had that the 1.7 MWh first phase of the Energy Superhub Oxford (ESO) project’s flow battery, is now installed and energized. This first battery cluster comprises nine Invinity VS3 flow batteries. Energizing this cluster, the first of three that will ultimately deliver a total of over 5 MWh, is an important milestone in the ongoing commissioning process of what will be the UK’s largest flow battery.
Invinity personnel are currently at site making final preparations for the delivery of the second cluster of VS3s, expected in the near term. Invinity is working with its project partners – developer Pivot Power, part of EDF Renewables, global technology company Wärtsilä, battery trading platform Habitat Energy and power electronics supplier Gamesa Electric – to commission the full system in preparation for service delivery to the UK grid.
IES is already seeing broad interest in a breadth of applications from utilities through to commercial and government. We reiterate our Buy recommendation and target price of 269p/sh.
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