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Invinity Energy Systems PLC on Friday backed its Frontier Legacy project, saying it had a positive view of a related announcement from UK regulator Ofgem. Shares in the manufacturer of utility-grade energy storage systems slumped 19% to 28.29 pence on Friday morning in London. Earlier on Friday, Ofgem had reported ‘a significant step forward’ in developing the UK’s long-duration electricity storage. The regulator published a ‘minded-to-decision’ list of 16 projects provisionally selected for support from Ofgem’s LDES cap and floor scheme. ‘LDES refers to energy storage systems that can store and release electricity for long periods, defined as eight hours or more. These systems help balance the supply and demand of electricity, especially when using renewable energy sources like wind and solar, which can be unpredictable,’ Ofgem explained. The selected projects span pumped storage hydro, compressed air energy storage, lithium-ion batteries and vanadium redox flow batteries, with Invinity’s Frontier Legacy included. Frontier Legacy has a total capacity of 520 megawatts, set to be divided between vanadium flow and zinc-halide battery technology. ‘The company views today’s announcement positively and notes Ofgem’s specific comment that the inclusion of Invinity’s vanadium flow battery technology in the Frontier Legacy project was a key factor in Ofgem reaching its ’minded-to decision’,’ Invinity said. Ofgem’s next step is to assess stakeholder views on its proposed decisions. ‘Invinity will now work to support Frontier Power in this process to advance this project towards financial close over the coming months. The company notes that, while management retains a high degree of confidence, there can be no assurance that financial close will be achieved in the form currently envisaged, if at all,’ the company added. Invinity Chief Executive Jonathan Marren commented: ‘Ofgem’s announcement today, particularly their specific reference to Invinity technology’s role within the scheme, underlines the continued progress we are making as a business both in the UK and globally.’ The CEO continued: ‘On a broader basis, we are also currently seeing significant traction in both UK and global C&I and data centre sectors both directly and through industrial partners. The company therefore remains extremely positive about its prospects for growth.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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