Shares in Invinity Energy Systems PLC rose 22% on Thursday after the company said it has received an order for its batteries from Taiwanese group Everdura Technology Co.
The utility-grade energy-storage manufacturer said the reseller agreement includes an initial 15 megawatt-hours of vanadium flow batteries as well as the possibility for Everdura to buy a further 255 MWh to fulfill follow-on orders over the next three years.
Invinity said this is its largest order to date, for which a deposit is due shortly without saying how much it was.
The first deliveries are expected to start in late 2023 with most of revenue from the order to be recognized in 2024, Invinity said.
Invinity shares at 1136 GMT were up 4.95 pence at 27.75 pence.
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