Invinity Energy Systems PLC (AIM:IES, OTCQX:IESVF) announced a further battery sale to Dawsongroup PLC in the UK as well as an entry into Hungary via a multi-party commercial partnership.
The AIM and ASQE-quoted battery manufacturer said it received an additional order from Dawsongroup for a 0.22 MWh VS3 battery.
This builds on the partnership it announced with Dawsongroup on 16 January this year to develop a UK battery rental offering which included the sale of a VS3 unit, a statement said.
Dawsongroup Power Solutions, a unit within Dawsongroup, and Invinity are working together to develop and market a full-package battery plus renewables solution to UK commercial customers.
VS3 batteries use vanadium as opposed to lithium and are said to have a longer lifespan without energy capacity loss in comparison to their lithium counterpart.
“Our second sale to Dawsongroup further deepens our relationship with one of the UK’s foremost asset rental businesses and builds upon the tremendous demand we see for Invinity’s flow batteries to serve the UK commercial and industrial sector,” said chief commercial officer of Invinity Matt Harper.
Additionally, Invinity said it has entered the Hungarian market after agreeing on a multi-party commercial partnership with STS Group and Ideona Group.
STS is a Hungarian renewable energy project developer, while Ideona is an asset management company and STS’s strategic partner.
Invinity’s Hungarian partners, according to the statement, have already identified over 50MWh of potential projects for Invinity’s batteries.
“Our new partnership with Ideona and STS will help to establish Invinity as a leading provider of safe, durable longer-duration storage in Hungary,” Harper added.
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