Utility-grade energy storage manufacturer Invinity Energy Systems PLC (AIM:IES) has successfully doubled its market value in the past month following a 29% rally to 48p in Thursday’s trading.
Shares in the company have responded well to last week’s signing of a reseller agreement with Everdura Technology Company, an industrial technology company based in Taiwan.
Within the framework of the agreement, Everdura has agreed to an initial purchase order totalling 15 MWh of vanadium flow batteries (VFBs) from Invinity.
Despite the recent gains, Invinity shares remain 47% lower in the year-to-date.