Invinity Energy Systems (IES LN), which develops Vanadium Flow Batteries (VFBs) for utility scale grid storage, recently announced a trading update for the Full Year ending December 31st 2025 (FY 2025). IES now expects FY 2025 revenue of £17.0m (vs. our previous £21.7m) including, we estimate, £10.0m of grant income. Our FY 2025 PBT loss estimate of £20.1m is unchanged on improving gross margins as shipments of the new Endurium VFB ramp up. IES has commenced FY 2026 with the announcement of £17. ....
