Invinity Energy Systems (IES LN), which develops Vanadium Flow Batteries (VFBs) for utility scale grid storage, recently announced results for the Full Year ending December 31st 2024 (FY 2024). This follows a trading update in March 2025. FY 2024 revenue was broadly in line with our estimates at £5.0m (vs. our £4.8m), the EBITDA loss was £22.7m vs. our £20.2m; the main difference from non-cash charges including warranty provisions. End cash closed at £35.3m vs. our £38.7m estimate due to larger ....
