Energy storage: the next big growth area (Updated)
The well-supported fund raise to support its manufacturing expansion highlights the appeal of this energy storage specialist, whose proven technology should be in increasing demand as the move to renewables grows. Read on here to find out more about this fascinating business and the latest contract news.
Invinity Energy Systems (LON:IES), the manufacturer of vanadium flow batteries for large-scale energy storage requirements raised £20.5m at 175 pence share earlier in December drawing attention to its considerable growth prospects. There was also an Open Offer to raise a further £2m at the same price bringing the total raised to £22.5m.
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