18th Feb 2025 16:39
(Alliance News) - Invinity Energy Systems PLC on Tuesday said it has partnered with UK-based Frontier Power Ltd to deploy up to 2 gigawatt-hours of its Endurium vanadium flow batteries, aiming to enter the UK's long-duration energy storage market.
The London-based manufacturer of utility-grade energy storage systems said under the master supply agreement, Frontier Power has reserved up to 2GWh of Invinity's manufacturing capacity on a right-of-first-refusal basis. The deal targets multiple project bids into Ofgem's LDES Cap & Floor scheme, set to open between the second and third quarters of 2025.
Invinity said Frontier will act as the lead developer, securing project financing, land, connections, and planning permissions, while Invinity will be the exclusive supplier of flow battery technology. If bids are successful and projects reach financial close, Frontier has agreed to pay a capacity reserve fee to support Invinity's manufacturing costs.
Both firms will also explore collaboration opportunities beyond the UK, including in Japan, Korea, Vietnam, Malaysia, the US, and the EU.
Invinity Chief Executive Officer Jonathan Marren said: "Frontier Power combines deep energy and project finance expertise with significant relevant experience in developing and financing interconnector projects which operate on the same cap and floor revenue model upon which the LDES cap and floor scheme is being based. We are delighted to be partnered with them using their invaluable experience in this area to address the need for long duration energy storage in the UK and further afield.
"Maximising the use of the UK's own energy resources in the form of wind and solar power is essential to delivering enhanced energy security while also driving down costs for consumers. By deploying our Made in Britain batteries in partnership with Frontier Power and others across the UK energy industry, we are meeting this challenge head on."
Shares in Invinity Energy closed up 8.7% at 13.04 pence on Tuesday in London.
By Eva Castanedo, Alliance News reporter
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