Invinity Energy Systems (IES LN), which develops Vanadium Flow Batteries (VFBs) for utility scale grid storage, recently announced Interim results for the period ending June 30th, 2023 (H1 2023). In H1 2023, the Group reported revenue of £14.8m, delivered a record 26.5 MWh of VFBs and manufactured 15.6 MWh (a 2.6x increase YoY). The Company is now rapidly ramping up production, investing in marketing and R&D, which saw a 1H 2023 EBITDA loss of £11.9m. We see the next generation, higher margin “M ....
