….I had thought the 10% new energy tax credits section of that bill (which would be so useful to AVL if passed) was currently under Parliamentary discussion with other aspects of the Future Made in Australia bill, but accordimg to the Australian they put a raincheck on any discussions until later in the year :/
So I guess we’ll be:
• maybe hearing more on that in August or after
• maybe hearing more on the OFS in August or after
• maybe even getting a share consolidation after that (considering current tidying up of shares)
• maybe getting word on the Invinity pilot plant being finally plugged in
• and possibly having some other news to flesh out the AVL Diggers & Dealers presentation before anything else?
••• and what about that EPA?
It was June 2023 , as I recall that a bevy of EPA officials were flown up to Meekatharra to inspect the area and all I’ve noticed since then in the area was the sad deaths in March of a prospecting father and son on Polelle Station about 60km south of Meekatharra,
(For the record this property was recently sold (31/10/22) , and I think I remember reading {without references} that it abuts the G~ababintha leases so maybe it’s the new owners cessing about how for the next 30 years or whatever there’ll be a dirty old vanadium mine wrecking their peace and quiet?)
One can only be a wishin’ and a hopin’ that that is not the issue, and that much good is on the way whilst twiddling the collective thumb, and considering the nature of attrition and opportunity cost?
AND IN OTHER NEWS ?
Our mates at Invinity over on the UK and Canada received a tasty review from Cannacord the other day.
Its’ full of future-facing comment that might one day be applied also to AVL too - if all goes well “The report underscores the importance of long-duration storage solutions globally, driven by decreasing costs of solar PV and wind energy.”
I’ll put it in the spoiler for anyone who wants a look.
Invinity Energy Systems plc (LON:IES), a leading manufacturer of vanadium flow batteries (VFBs), continues to make significant strides in the renewable energy sector.
According to a recent research report by Canaccord Genuity Ltd, analyst Alex Brooks highlights the company’s robust performance in 2023 and its promising outlook for the coming years.
Invinity’s financial health, innovative technology, and strategic market expansions are central to its growth trajectory.
Strong Financial Performance and Positive Cash Flow
Invinity’s fiscal year 2023 results align with Canaccord Genuity’s forecasts, reflecting a strong working capital performance and a positive cash position.
As of the end of May 2024, the company reported cash reserves of £53 million, surpassing expectations by at least £3 million.
This improved cash flow underscores Invinity’s efficient capital management, contributing to a more optimistic financial outlook.
Alex Brooks notes, “We are making a number of minor amendments, chiefly reflecting a more positive cash position for the group after strong working capital performance in FY23 and 1H24E.”
He further emphasises the company’s substantial revenue growth prospects for 2024 and 2025, with expectations for 2024 to be the first year of positive gross margins due to higher volumes.
Technological Advancements and Market Expansion
Invinity’s vanadium flow batteries offer a durable and cost-effective solution for long-duration energy storage, essential for integrating renewable energy sources into the grid.
The technology’s ability to endure over 40,000 charge/discharge cycles with minimal degradation positions it as a viable alternative to lithium-ion batteries, especially for utility-grade storage.
The company’s strategic expansions in the UK and North America highlight its growing market presence.
In the UK, Invinity’s low-capital intensity model is exemplified by the expansion of capacity to 500 MWh at the Motherwell and Bathgate sites.
Automation at Bathgate is expected to further reduce costs.
Significant announcements regarding the 30 MWh UK LODES project are anticipated, potentially driving major revenue streams over the next six to nine months.
In North America, Invinity’s largest revenue market in 2023, key projects such as Chappice Lake in Canada and the Viejas microgrid project underscore its market leadership.
The company is awaiting confirmed funding for 84 MWh of demand across six major projects awarded in September 2023, including a 12 MWh project at the Pacific Northwest National Laboratory (PNNL).
Analyst Insights and Future Outlook
Brooks remains optimistic about Invinity’s future, retaining a BUY rating with an unchanged target price of 65p.
He asserts, “We continue to expect substantial revenue growth this year and going into 2025, and note that we expect 2024 to be the first year of positive gross margin for the group, on the higher volume.”
The report underscores the importance of long-duration storage solutions globally, driven by decreasing costs of solar PV and wind energy.
Invinity’s VFB technology is well-positioned to capitalise on this trend, offering reliable and cost-efficient energy storage.
Final Thoughts
Invinity Energy Systems plc is poised for significant growth, driven by its innovative vanadium flow battery technology, strategic market expansions, and strong financial management.
Analyst Alex Brooks’ positive outlook reflects confidence in the company’s ability to achieve substantial revenue and profitability in the coming years.
As the world continues to transition towards renewable energy, Invinity’s role as a key player in the energy storage market becomes increasingly vital.
(20min delay)