Invinity Secures Backing for £20 Million Fundraise to Scale Vanadium Flow Battery Production

Invinity Secures Backing for £20 Million Fundraise

Invinity Energy Systems plc, a prominent global manufacturer of vanadium flow batteries for long-duration energy storage, has announced a proposed fundraise targeting a minimum of £20.0 million in gross proceeds. The fundraising initiative is strongly backed by the National Wealth Fund, which currently holds approximately 19% of the company's issued share capital and is expected to participate significantly in the round.

Strategic Allocation of Capital

The newly raised capital will be strategically deployed to accelerate the company's growth trajectory. Specifically, £10 million will be allocated to accelerate product development and drive down manufacturing costs. An additional £8 million is earmarked for working capital to support day-to-day operations, while the remaining £2 million will be invested in expanding vanadium flow battery manufacturing capacity across both the United Kingdom and the United States.

The fundraise will be executed through a subscription and institutional placing, with a separate retail offer planned at an issue price of 10 pence per share. To facilitate this process, Invinity has entered a Capital Access Window, temporarily suspending the trading of its ordinary shares.

Leadership Transition

Alongside the financial milestone, Invinity is preparing for a transition in its leadership. Non-Executive Director Volker Beckers CBE is set to succeed Neil O’Brien as Non-Executive Chair upon the completion of the financing. Outgoing Chair Neil O’Brien has also expressed his intention to participate in the fundraise, underscoring his continued confidence in the company's Endurium VFB technology, which is engineered for heavy-duty applications with operating lifetimes of 30 years or more.

Invinity's Endurium vanadium flow batteries represent a fire-safe, robust alternative to traditional lithium-ion systems, specifically targeting grid-scale applications where longevity and safety are paramount. By securing this substantial financial backing, Invinity is well-positioned to scale its operations and meet the growing global demand for long-duration energy storage solutions. The expansion of manufacturing facilities in both the UK and the US highlights the company's commitment to localized production and supply chain resilience.

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