Invinity Energy Systems PLC (AIM:IES, OTCQX:IESVF, AQSE:IES) saw its shares jump 14% after announcing a major partnership with UK energy developer Frontier Power.
The deal could see up to 2 gigawatt-hours of Invinity’s ENDURIUM vanadium flow batteries used in large-scale energy projects across the UK.
Frontier has secured the right to reserve manufacturing capacity from Invinity as it prepares bids for Ofgem’s long-duration energy storage scheme, set to open later this year.
If successful, these projects could help stabilise the UK’s electricity grid by storing excess renewable energy that would otherwise go to waste.
Invinity is ramping up its UK production to meet demand and says the partnership could also lead to further opportunities in international markets, including the US, Europe, and Asia.
The deal strengthens the company’s position in the growing energy storage sector, where reliable, long-term solutions are needed to support the transition to cleaner power.
In early trading, the stock was up 1.65p at 13.65p.