Invinity Energy Systems (IES LN), which develops Vanadium Flow Batteries (VFBs) for utility scale grid storage, recently announced full year results for the period ending December 31st 2023 (FY 2023). Revenue rose by 511% to £22.0m (FY 2022:£3.6m) from sales of 32.5MWh of battery sales across 15 projects. The PBT loss increased to £23.2m (FY 2022: £18.5m) and end cash closed at £5.1m as the Group invested for growth. IES’ next-generation Mistral VFB technology will be commercially launched in H2 ....
