By Julian Singer At the end of June Invinity Energy Systems, the manufacturer of vanadium flow batteries (VFBs) for electricity storage, announced its results for 2021. They show a sharp increase in revenue, up from £0.7million in 2019, £0.2m in 2020 to £3.2m in 2021. As explained by CEO Larry Zulch, much of the revenue [...]
By Julian Singer In a trading update dated 9 March 2021 Invinity Energy Systems, the manufacturers of vanadium flow batteries, announced that it had 9.1MWh of capacity in the final stages of contract negotiation. This is on top of 18.6MWh of orders obtained in 2020 and 50.3MWh of sales under discussion. Invinity was formed from [...]
On 1 July 2019 RedT, the provider of flow batteries, announced its plan to merge with Avalon Battery Corporation, a private California-based supplier of flow batteries with engineering facilities in Vancouver and a manufacturing plant in Suzhou. Following AIM rules, trading was suspended at a price of 1.07pence. The merger is in fact a reverse [...]
A year ago RedT divested most of its carbon trading and consultancy business, Camco, in order to concentrate on vanadium flow batteries. Some 330 units worth £18.3 million were said to be in the final stage of customer selection. Staff numbers were doubled and analysts projected a profit in 2019. In July the company announced [...]
Two recent news items show that flow batteries are starting to receive more attention. In the first, RedT announced the sale of two systems, each with an energy storage capacity of 40MWh, to the German company Energy System Management GmbH (ESM). These are to help maintain equilibrium between supply and demand and to assure a [...]
On 17 May RedT released its results for 2017 showing a revenue of €11.8 million, up from €10.8m in 2016, for an operating loss of €7.5m (2016: 6.2m). However, these results are no indication of the future as they are dominated by the company’s Camco carbon trading and consultancy business, which was effectively divested by [...]
We recently wrote about Redflow’ s involvement in grid and off-grid energy storage through the use of Zinc-Bromine batteries. This article on the exciting developments in battery technology looks at the possibilities for Flow Batteries in this area. The distinguishing feature of a flow battery is that the electrical energy is stored in a liquid [...]
Like other renewable energy groups such as Flowgroup and Eden Research, redT energy (formerly Camco) seemed to be bogged down in development rather than arriving at commerciality. This was partly because they had too many potentially marketable but unproven lines. But it was also because, well, it can take a long time to establish pioneering [...]