Invinity Energy Systems Plc · LSE:IES

Invinity Energy Systems — Investor Presentation (February 2023)

15 slides from Invinity Energy Systems's investor presentation, February 2023

  1. Slide 1: Investor Presentation February 2023

    Investor Presentation February 2023

  2. Slide 2: Market Overview

    Market Overview  The world is shifting to low-cost renewables in response to the ongoing energy crisis and the transition to net zero  Energy storage growth drivers:  Energy generation is shifting to renewables to achieve emissions reduction and energy sovereignty  While renewables are low cost,

  3. Slide 3: Invinity Energy Systems

    Invinity Energy Systems  Vanadium flow batteries are a proven alternative to lithium-ion  Invinity is a leader in vanadium flow batteries  Invinity believes it has the largest fleet of flow batteries ever deployed, totalling over 275 operating modules  Standardized, factory-built products  Over

  4. Slide 4: Proven Capabilities

    Proven Capabilities  Invinity’s VS3 vanadium flow batteries are already in service delivering energy to the grid and being dispatched commercially by customers Dispatched Power Battery Charge  Invinity has deep expertise in both grid- connected and behind-the-meter storage projects  Strategic rel

  5. Slide 5: Contract Momentum

    Contract Momentum Drivers of recent contract momentum: 31 MWh contracts closed since October 2022 60 The Wave (UK)  Growing global storage market combined with Dawson Group (UK) challenges to lithium batteries Everdura (Taiwan)  VS3 in operating projects proving capabilities 45 Bei Ying (Taiwan) 

  6. Slide 6: Pipeline

    Pipeline Accelerators: bankability study, new routes to market, battery revenue, project funding opportunities 1190 1200 1000 766.4 Order-book backlog of 800 £22.0m underpinning the majority of the Company’s MWh 600 2023 revenue expectations 405.8 400 Long-term Qualified includes multiple U.S. 200 1

  7. Slide 7: Manufacturing at Scale

    Manufacturing at Scale Invinity is currently supply constrained, not demand constrained.  IP-intensive cell stacks built in-house, balance of system outsourced  Current annual stack capacity of 200 MWh meets expected demand over the next 24 months – further expansion requires limited capex  Our p

  8. Slide 8: Mistral

    Mistral Low LCOS energy storage with Mistral:  Mistral suitable for very-large-scale wind, utility Levelised Cost of Storage evolution through Mistral programme and solar installations (+500MWh projects) $500  Proven VS3 technology in a larger module size  Lower CAPEX, significantly improved marg

  9. Slide 9: Changing the Economics of Energy

    Changing the Economics of Energy The energy market will be altered fundamentally when renewable energy on demand costs less than the least expensive fossil-fuel generation. 250  Renewables already provide lowest cost energy, but they need energy LCOE LCOS 200 storage to become baseload Peaking Pari

  10. Slide 10: Pathway to Profitability

    Pathway to Profitability Mistral is designed to achieve industry-standard margins while delivering a low-LCOS storage product. Step 1 – Deploy VS3, for vital Step 2 – Mistral development, a Step 3 – Mistral deployment, higher experience and to reduce risk: low-LCOS product by design: margins enablin

  11. Slide 11: Financial Summary

    Financial Summary Invinity is focusing on operational excellence, financial discipline, and scalability. Revenue  2022 revenue in line with expectations  2023 revenue target on track, 85% already contracted or delivered Financial Highlights  2024 order backlog expected to increase throughout 2023

  12. Slide 12: Strategy

    Strategy Establish Invinity as the leading alternative to lithium-ion batteries for stationary energy storage Strategy Objective Capitalise on sales momentum and Demonstrate ability to exceed customer grow strategic partnerships to drive expectations, gain field experience, additional sales across g

  13. Slide 13: Appendix

    Appendix January 2023

  14. Slide 14: Vanadium Flow Battery Technology

    Vanadium Flow Battery Technology Invinity VS3 Standardized Battery Module  37 kWh, 10 kW (nominal)  1 x 2 x 2 meters (approx.)  3rd generation vanadium flow battery  Self-contained and fully integrated  Control systems  Power electronics  Cooling  Secondary containment  Complete and tested

  15. Slide 15: Lithium-ion vs Vanadium Flow

    Lithium-ion vs Vanadium Flow Lithium-ion Vanadium flow 5-15 years – far shorter than 25 years or more – matches Service life generating assets generating assets Global lithium battery production No conflict minerals; vanadium Raw materials supply required for EV transition more abundant than copper

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