Invinity Energy Systems (IES LN), which develops Vanadium Flow Batteries (VFBs) for utility scale grid storage, has issued a Trading Update and announced management changes. IES reported 1H 2024 revenue of just £1.6m and noted that FY 2024 revenue will be significantly impacted, due to upcoming U.S. elections and the UK change in government. Our FY 2024 revenue estimates are reduced to £4.8m (from £37.8m) and EBITDA loss to £21.2m (was £19.3m); the low gross margin on the current generation VFB ....
