9th Nov 2020 11:40
(Alliance News) - Shares rose in Invinity Energy Systems PLC on Monday as it announced the sale of a 1.8 megawatt hour vanadium flow battery system to the European Marine Energy Centre for an undisclosed sum.
The battery manufacturer was 17% higher at 122.75 pence on Monday in London.
EMEC is a test and research centre focused on wave and tidal power development.
EMEC will use the system at its facility on the Isle of Eday, part of the Orkney Islands off the northeast of Scotland. The battery will smooth output from tidal electric generation and provide consistent power to the centre's hydrogen production plant.
The complete system is expected to create large amount of hydrogen every year without emitting carbon at any point of the process.
"This far-sighted project demonstrates how Invinity's vanadium flow batteries can accelerate the commercialization of producing hydrogen from renewable energy sources such as tidal power. Robust energy storage can ensure hydrogen production systems operate at their best even when powered by intermittent renewable sources. It is a great honour to be chosen by EMEC to assist their hydrogen research efforts and support the development of marine technologies that are leading the way to a brighter energy future," said Chief Executive Officer Larry Zulch.
By Dayo Laniyan; [email protected]
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