Business
Q1 2025 Trading Update
Q1 2025 Trading Update.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n\n\n \n31 March 2025\nInvinity Energy Systems plc\n \n(\"Invinity\" or the \"Company\")\n \nQ1 2025 Trading Update\nTrading in line with expectations, strong progress made against 12-month plan\n \nInvinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage, today provides an update on current activities and trading and confirms that it continues to make significant progress in delivering against each of the 12-month corporate priorities set out in September 2024.\n \nCurrent Trading\nThe Company confirms that as a result of shipping the orders secured during 2024 by the year end, results for the full year 2024 are anticipated to be in line with expectations. The Company advises that it remains on track to release its audited full year results by the end of June 2025.\n \nThe Company also confirms that it is currently trading in line with expectations for 2025. This confirmation is based primarily upon the agreement to supply a 10.8 MWh ENDURIUM battery system to STS Group (financial close expected Q2 2025), the 14.4 MWh order from Everdura Technology Company (\"Everdura\"), Invinity's strategic partner in Taiwan and the recent announcement that the Company plans to recognise up to £10m of grant income this year in respect of the LODES project announced today, which has now secured approval to proceed.\n \nENDURIUM Product Update\nThe Company officially launched its next generation flow battery, ENDURIUM, and announced the first shipment to its partner, Gamesa Electric in December 2024, in line with expectations.\n \nThe first ENDURIUM batteries arrived at Gamesa Electric's La Plana site in Zaragoza, Spain, in late January and the Company can confirm that the first ENDURIUM battery has now been fully commissioned. Initial operating data received from the battery has indicated performance in line with expectations. \n \nThe delivery and commissioning process benefited significantly from the extensive testing performed in advance during the product development phase. This, combined with utilising experience gained from deploying more than 2,000 individual flow battery modules across previous product generations, has proven to be extremely valuable for Invinity, our partners and current and prospective customers...