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Invinity Energy enters into contract with Webcor
StockMarketWire.com
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Invinity Energy Systems, manufacturer of vanadium flow batteries delivering renewable energy on demand, has announced it has entered into a contract with Webcor, a Californian construction firm, to provide a vanadium flow battery (VFB) for a project developed by Indian Energy LLC.
The project, located on a US Marine Corps base in Southern California, will couple three of Invinity's VS3 vanadium flow batteries with solar PV to provide resilience and energy security in the case of Public Safety Power Shutoff (PSPS) events, wildfires or other outages.
The Invinity system will apply recent technological advancements developed by Invinity's team to extend battery storage duration to up to ten hours with an option to operate in either grid-connected or off-grid modes. This ensures round-the-clock energy resiliency for the site while reducing overall energy costs through demand shaving and Time of Use (TOU) energy shifting.
The 0.5 MWh system is expected to be delivered during Q4 2021 and to contribute revenue of approximately £450,000 to the Company, relating to the Invinity VS3 vanadium flow battery, ancillary components and associated services.
Indian Energy LLC is a 100% Native American-owned utility-scale and microgrid development and systems integration firm with approximately 4GW of solar PV and wind and 6GWh of energy storage projects under development.
The company has concluded contracting on another project awarded funds by the California Energy Commission (CEC).
This follows the company's announcement in Q4 2020 that it had been selected for a number of projects funded by the CEC, California's primary energy policy and planning agency.
At 1:10pm: (LON:IES) share price was 0p at 130p
Story provided by StockMarketWire.com
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