They plan to become key opponents to present lithium-ion engineering in the fast growing global energy storage market.
The merger combines the firms under a new name, Invinity Energy Systems (Invinity), also unites the present strengths of both firms together with the scale and market presence to compete with the significant players at a global energy storage market, prediction for #55bn ($67bn) of fresh investment by 2024.
Vanadium flow batteries are a sort of heavy duty, stationary energy storage, utilized chiefly in high-utilisation applications for example being combined with industrial scale solar generation for spread, low-carbon energy jobs. This form of application necessitates daily, heavy usage and is ideal for flow battery life technology, which is anticipated to become a 3.5bn market by 2028. This provides us the stage to compete against incumbent lithium-ion giants, and in so doing establish our strong, secure, non-degrading energy storage solutions will be the optimal solution for delivering the planet’s challenging decarbonisation targets.
“Invinity unites the very best of British and British American flow battery experience. By joining the advantages of both companies under one brand, we could realise the massive potential of the game-changing energy storage technologies and unlock significant industrial opportunities globally.”
Invinity’s flow batteries store energy at a non-flammable, liquid electrolyte, stored in tanks inside a self indulgent module. Larger, safer and much stronger than lithium-ion systems, flow batteries don’t interfere with use like conventional batteries also have a 20-25 year life, significantly more than similar lithium-ion solutions.
This key attribute means flow batteries are ideal for heavy duty, daily usage along with intermittent renewables like solar, storing surplus energy occasionally of peak generation then releasing it when demanded.
Batteries are being used in this way to make low-cost, low-carbon, reachable energy’on-demand’ from renewable resources, substituting conventional fossil-fuel based generation and allowing the global transition into 100 percent renewables. It will concentrate on key markets, with a focus on unlocking the utmost value from solar generation via”solar and flow battery” solutions. This proposition maximises carbon reduction possible whilst producing appealing, investable job returns through substantial invoice savings and other earnings opportunities that may be piled on top.