Invinity Energy Systems

Canaccord Genuity acts as Nominated Adviser, Joint Bookrunner and Joint Broker to Invinity Energy Systems Plc on its £56 million Conditional Placing and Subscription

Canaccord Genuity’s Corporate Broking team is pleased to announce it has acted as Nominated Adviser, Joint Bookrunner and Joint Broker on an oversubscribed Conditional Placing and Subscription for £56 million for Invinity Energy Systems plc (“Invinity” or the “Company”) at price of 23 pence per Placing Share. This represents the largest fundraise on AIM in 2024.

The transaction comprised a Conditional Placing for £28 million and a Subscription for £28 million. The Subscription included a strategic investment of £25 million by the UK Infrastructure Bank (the British state-owned policy bank), their maiden investment in a public company. The Company will also be conducting an Open Offer as part of the transaction.

Invinity is a global manufacturer of Vanadium Flow Batteries (VFBs), a leading alternative to Lithium-ion technology for the stationary energy storage market. The Company’s next generation product, which has been co-developed with Gamesa Electric and is due for launch later this year, looks to unlock renewable energy on demand at cost lower than fossil fuel alternatives.

The Company will use the funds to support demand for their next generation product, to invest in long duration energy storage projects in the UK, and to ensure the Company is fully funded to net cash generation. The transaction is subject to the approval of the Company’s shareholders at a general meeting to be held later this month.