Ann: Infigen Invests in Battery Energy Storage System, page-4

Hooray! Y'all know my strong support for adding an IFN-controlled battery to IFN's kit.

A battery on Lake Bonney makes sense - and it doesn't need to be big to provide out-size benefits.

The $38m capex is part-funded by $10m in grants, so cost to IFN is $28m.

A battery removes the frequency oscillation discount on Lake Bonney output AND introduces a genuine optional destination when it produces more than contracted.

IFN will be able to bid into the NEM more boldly or not bid when prices are low and send output to the battery. The low-value midnight to dawn production can be stored and sold into the afternoon peak - the widest arbitrage available in the electricity market.

"Construction activities are expected to commence in the coming weeks."

This will have a substantial and immediate benefit to revenues. I anticipate a prompt re-rating and share price gains.

Ash