Accounting shenanigans | Dividends | Contract wins
Results and updates covered here include news of encouraging contract wins as well as a big dividend increase from one high-quality company. However, it’s the ludicrous number of accounting adjustments from another which frustrates.
Another nice contract win Invinity Energy Systems (AIM: IES), the manufacturer of utility-grade energy storage, has announced a 1.5 MWh sale for use in a solar plus storage project near the municipality of Öskü, central Hungary. This project, supported with EU funding, will see seven VS3 flow batteries coupled alongside a 2 MWp solar array that will provide power for up to 6 hours. Invinity's battery will increase the use of renewable energy and provide grid-balancing services for the local grid by storing and dispatching excess solar generation. Delivery of the Invinity batteries is expected to commence in the second…