UK vanadium flow battery manufacturer Invinity Energy Systems plc (AIM: IES) has secured GBP 25 million (USD 33.5 million / EUR 29.8 million) in a fundraising led by a GBP 12.2 million cornerstone investment from the UK's National Wealth Fund.

How the raise breaks down

The package comprised the GBP 12.2 million NWF cornerstone, GBP 10 million of equity funding from institutional investors and GBP 2.8 million from retail investors. Invinity had signalled earlier in the week that it intended to raise at least GBP 20 million.

The institutional element was delivered through an oversubscribed placing of 100,000,000 new ordinary shares at 10 pence each, announced on 20 October 2026. Canaccord Genuity, Panmure Liberum and VSA Capital acted as joint bookrunners. The NWF conditionally agreed to match the retail offer pound-for-pound, subject to the fundraising not exceeding GBP 25 million, lifting the maximum subscription size to GBP 12.5 million.

Where the money goes

Invinity said proceeds will accelerate development and product cost reduction, provide working capital and fund investment in manufacturing capacity in the UK and the US, with excess funds directed towards further production capacity and general working capital.

"This cornerstone investment mobilises funding to back British manufacturing in Scotland, commercialise the technology and turn Invinity into a global exporter of UK tech," said NWF CEO Oliver Holbourn.

A deepening public-sector bet

The National Wealth Fund first invested in Invinity in May 2024. The follow-on commitment comes as AI, electrification and renewable energy build-out drive demand for flexible, high-throughput energy storage — a duty cycle flow batteries are specifically marketed for.

Timeline and product positioning

The fundraising is conditional on shareholder approval at a general meeting, with admission of the fundraising shares expected at 8.00 a.m. on 12 November 2026 and no later than 27 November 2026.

Invinity manufactures its Endurium vanadium flow batteries in the UK and Canada. The company markets them for heavy-duty, high-throughput applications, claiming they do not wear out, cannot catch fire and are designed to be operated for 30 years or more — a durability proposition aimed squarely at the long-duration segment.

This article was assisted by AI analysis. Please refer to the original source for official information.