Invinity Energy Systems PLC - London-based utility-grade energy storage manufacturer - Leases an additional manufacturing facility, ‘in order to meet the growing demand for long-duration energy storage in the UK.’ Says the 26,000 square foot facility located in Motherwell, North Lanarkshire is six times the size of the company’s existing facility in Bathgate, West Lothian. Expects the Motherwell facility to become operational during the third quarter of the year.
Chief Executive Larry Zulch says: ‘We are seeing the market for Long Duration Energy Storage in the UK expanding dramatically alongside increasing dependence on renewable energy. As the UK’s leading domestic energy storage manufacturer, we are looking forward to serving the country’s energy storage requirements with batteries made in Britain. Quadrupling our UK manufacturing footprint is a big step forward in this direction.’
Current stock price: 22.60 pence, up 2.7% in London on Monday afternoon
12-month change: down 44%
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