Invinity Energy Systems, the vanadium flow storage company created by the merger of Avalon and RedT, says it has signed orders for 1.7MWh of new sales despite Coronavirus disruption.
The orders, a total of those received since the start of 2020, are worth £1.1m in revenue according to the firm. That revenue will be recognised when the units, some 40 vanadium redox flow modules, are commissioned.
The company did not say when commissioning would take place, but said production has resumed and deliveries suspended by Covid-19 would recommence in the second half.
Its new buyers include a US-based municipal utility, an Asia-based storage developer and a global retail chain.
Invinity is also tasked with delivering a 2MW/5MWh storage system for a smart grid project in Oxford, dubbed the ‘superhub’. The £41m scheme involves a 52MW lithium-vanadium hybrid battery, an 8km private wire, some 300 connected heat pumps as well as electric vehicles and a smart charging network.
Invinity said it “continues to progress towards fulfilment of the 162-module order” for use at the superhub and had cash reserves of £5.8m as of end of May.
CEO Larry Zulch said the Covid-19 crisis may yet offer a “silver lining … if the global response to the potentially larger crisis of climate change is sped up”.
He added: “We believe that renewable energy requires a proven alternative to lithium storage that is safe, economical and long-lasting”.