Invinity Energy Systems Secures 10.8 MWh ENDURIUM Battery Order in Hungary
Why we think this is good
The RNS announcement is positive, as it confirms Invinity Energy Systems has received a formal Notice to Proceed for a 10.8 MWh ENDURIUM battery system order in Hungary. This represents the first commercial deployment of ENDURIUM in Europe, which is an important milestone for the company. The project is supported by the European Union and is expected to receive debt funding from a major European bank, indicating strong financial backing. Additionally, the order is expected to provide a material portion of the company's anticipated 2025 revenues, which is a positive financial development. However, the news does not meet the criteria for a 'Very Good' rating, as it is not an explicit profit upgrade or a transformational acquisition.
Key Points
- Invinity receives Notice to Proceed for 10.8 MWh ENDURIUM battery system order in Hungary
- Project is supported by the European Union and expected to receive debt funding from a major European bank
- Represents the first commercial deployment of ENDURIUM in Europe, an important milestone for the company
- Order expected to provide a material portion of Invinity's anticipated 2025 revenues
Summary
Invinity Energy Systems plc (AIM: IES) (OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage, has received a formal Notice to Proceed from STS Group in respect of a 10.8 MWh ENDURIUM battery system for delivery to a project in Hungary. The project is supported by the European Union and is expected to receive debt funding from a major European bank. This represents the first commercial deployment of ENDURIUM in Europe, an important milestone for the company. The order is expected to provide a material portion of Invinity's anticipated 2025 revenues.