Company Announcements

1 December 2023

Invinity Energy Systems plc

("Invinity" or the "Company")

Invinity meets Premier of British Columbia & Hosts Canadian Delegation

Matt Harper and other New Economy Canada members discussed key energy transition proposals and incentives with B.C. Government; B.C. Energy, Mines and Low Carbon Minister visits Energy Superhub Oxford

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) a leading global manufacturer of utility-grade energy storage is delighted to announce that Invinity's Chief Commercial Officer Matt Harper met British Columbia (B.C.) Premier David Eby, Senior Cabinet Ministers and key members of the Opposition last week at the Legislative Assembly of British Columbia in Victoria, B.C.. These meetings were part of a series organised by New Economy Canada to discuss how clean energy infrastructure, including vanadium flow batteries, can help the province decarbonise while growing a strong industrial base.

Matt Harper, CCO, Invinity (left) with David Eby, Premier of British Columbia

A number of proposals covering energy supply, infrastructure and ongoing industrial strategy were discussed during the two-day event, including specific proposals that could see energy storage be included in a major new clean electricity procurement expected to be launched by provincial electrical utility BC Hydro in early 2024. New Economy Canada members also called for the introduction of initiatives to support the expansion of B.C. businesses whose products, services and technology can accelerate the global path to net zero.

New Economy Canada, of which Invinity is a member, is a newly formed non-partisan initiative uniting over 45 prominent business, Indigenous and labour groups such as Siemens Energy, First Nations Major Projects Coalition and the International Brotherhood of Electrical Workers (IBEW). New Economy Canada's mission is to ensure Canada has the right policies in place to simultaneously encourage economic growth, deliver green jobs and accelerate the transition to a decarbonised economy. In so doing, its members expect to lay strong foundations for a 1.5C-aligned future while enhancing Canada's industrial and economic competitiveness.

In line with Invinity's political engagement strategy targeting global policy- and decision- makers, the Company continues to successfully meet and discuss with senior government members and other policy and economic advisors from Canada, the UK, the U.S. and Australia. In recent months, Invinity has hosted Jonathan Wilkinson, Canadian Minister for Energy and Natural Resources, Màiri McAllan MSP, Cabinet Secretary for Transport, Net Zero and Just Transition in Scotland and other senior ministers at the Company's facilities and projects. Invinity was also delighted to be profiled in the UK Government's first ever Battery Strategy announced earlier this week.

Most recently, Invinity, alongside its customer EDF Renewables and Oxford City Council, hosted Josie Osborne, B.C. Minister of Energy, Mines and Low Carbon Innovation, at the Energy Superhub Oxford during a trip to the UK.

Above (L-R): Tim Rose, EDF Renewables, Josie Osborne and Joe Worthington, Invinity in front of Invinity's 5 MWh vanadium flow battery at the Energy Superhub Oxford

A recent UN report highlighted that despite positive developments Canada needs to continue accelerating investment towards the transition to clean energy if it is to meet its 2030 emissions reduction target. Energy storage is increasingly recognised as the way to increase the reliability of renewable generation, allowing an increasing proportion of global energy demand to be served by such low-cost, low-carbon sources.

Josie Osborne, B.C. Minister of Energy, Mines and Low Carbon Innovation said:

"It was a pleasure to visit the Energy Superhub Oxford and see first-hand how B.C.-based Invinity's vanadium flow battery technology is playing an important role in delivering urban decarbonisation and accelerating progress towards net zero.

British Columbia has a proud history of innovation and seeing Invinity's technology, which continues to be designed and developed in British Columbia, deployed at ever increasing scale across the world is extremely inspiring."

Matt Harper, Chief Commercial Officer at Invinity said:

"Because our energy industries - from the production of conventional fuels to the delivery of power to our homes - are so highly regulated, it takes dedicated, coordinated work by stakeholders at all levels to drive real change.

Invinity have been tremendously encouraged by how governments and policy-makers across all of our major markets are recognising the role our vanadium flow batteries can play in accelerating the path to global net zero while delivering economic growth and good, durable jobs.

We hope that Minister Osborne's visit to our pioneering project at the Energy Superhub Oxford can help inform her and her government's already impressive vision for how British Columbia and the world can accelerate along that path."

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Notes to Editors

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) manufactures vanadium flow batteries for large-scale, high-throughput energy storage requirements of business, industry and electrical networks.

Invinity's factory-built flow batteries run continually with no degradation for over 25 years, making them suitable for the most demanding applications in renewable energy production. Energy storage systems based on Invinity's batteries are safe, reliable, and economical, and range in size from less than 250 kilowatt-hours to tens of megawatt-hours.

Invinity was created in April 2020 through the merger of two flow battery industry leaders: redT energy plc and Avalon Battery Corporation. With over 70 MWh of systems already deployed or contracted for delivery across over 79 sites in 15 countries, Invinity is active in all major global energy storage markets and has operations in the UK, Canada, USA, China and Australia. Invinity Energy Systems plc is listed in the UK on AIM and AQSE and trades in the USA on OTCQX.

To find out more, visit invinity.com, sign up to our monthly Investor Newsletter here or contact Investor Relations on via +44 (0)20 4551 0361 or ir@invinity.com 

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