Invinity Energy Systems (LSE:IES) reported customer orders of 34.2 MWh for the six months ended 30 June 2026, nearly three times the previous level, as revenue and project grant income increased to £1.7 million.
The vanadium flow battery manufacturer said gross losses narrowed during the period, reflecting improved product margins and increased factory utilisation. However, the group remained loss-making as it continued investing in manufacturing expansion and cost reduction.
During the first half, Invinity delivered what it described as Europe’s largest vanadium flow battery to the Copwood energy hub in the United Kingdom.
The company also advanced a battery storage project in Switzerland with FlexBase and reported that a UK long-duration energy storage scheme had selected a project expected to deploy up to 260 MWh of Invinity batteries.
Following the period-end, Invinity secured a 43 MWh order from Dairyland Power Cooperative, representing its largest contract to date.
The batteries for the Dairyland project are expected to be supplied from a planned manufacturing facility in the United States.
The new contract increased Invinity’s secured orders for 2026 to 77.2 MWh, supporting its expansion into the North American energy storage market.
Management said trading remains in line with expectations, with revenue anticipated to be weighted towards the second half of the year.
The company reported a combined commercial pipeline of 12.5 GWh. Alongside existing framework agreements and development projects, Invinity said these opportunities provide potential revenue visibility through 2028.
The pipeline represents prospective business and is distinct from the company’s secured orders.
Invinity continues to invest in manufacturing capacity, operational efficiency and cost reduction as it works to increase production volumes and improve product economics.
The company is also implementing changes to its board. Volker Beckers has joined as a non-executive director, while chairman Neil O’Brien intends to retire once a successor has been appointed.
Chief executive Jonathan Marren said the company is moving towards larger-scale commercial operations as it expands production and pursues additional contracts.
Invinity manufactures vanadium flow batteries designed for long-duration energy storage applications, including renewable energy integration, grid infrastructure and data centres.
Its Endurium battery systems are intended for applications requiring repeated charging and discharging over extended operating periods.
The company currently has manufacturing operations in the UK and Canada and is planning additional production capacity in the United States.
Invinity’s near-term priorities include fulfilling its contracted orders, progressing manufacturing expansion and converting further opportunities from its commercial pipeline into binding agreements.
Leave a Reply