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Highlights
- Invinity expects to record approximately GBP 17m in revenue and grant income for 2025.
- The company signed new agreements totalling 20 MWh of energy storage systems in Hungary.
- The 2026 order book currently stands at GBP 17m in signed contracts and sales agreements.
Invinity Energy Systems plc (LSE:IES), a manufacturer of utility-scale long duration energy storage systems, has announced two new sales agreements alongside an update on its trading performance through the end of 2025. The company also provided details on project deliveries, manufacturing expansion, and its order book heading into 2026.
Commercial Activity and Product Deployment
Invinity entered 2025 following the launch of its Endurium product and the shipment of its first 1.2 MWh demonstration system from its Vancouver manufacturing facility. During the year, the company focused on reducing Endurium product costs while expanding its commercial footprint across multiple markets.
Commercial sales announced in 2025 included agreements with Pacific Northwest National Labs for a 12 MWh Endurium system, Charles Murgat for a 3.5 MWh Endurium Enterprise system, STS Group for 10.8 MWh of Endurium, and Ideona Group for two VS3 contracts totalling 4 MWh. Invinity also confirmed the progression of the Invinity Copwood VFB Energy Hub project, comprising 20.7 MWh of VS3 systems.
Operational Progress and Manufacturing Expansion
Deliveries to several major projects expected to complete in 2025 were concluded, including shipments to STS, HITT, Ideona, and the Copwood VFB Energy Hub. The Copwood project is progressing toward full operation in the first half of 2026 and will be managed in partnership with Enel X for dispatch and revenue optimisation.
Manufacturing capacity was expanded through the installation of a semi-automated stack production line in Scotland. In addition, Endurium balance-of-system manufacturing was transferred to partner Baojia in China, enabling shipments from the UK, Canada, and China. Invinity also outlined plans to scale manufacturing capacity in the United States and India through partnerships.
Revenue Outlook and Order Book
In September 2025, Invinity disclosed approximately GBP 15m in signed committed or booked revenue and grant income, alongside GBP 5m in signed but uncommitted projects and GBP 6m in near-term contracts. The company now expects to recognise approximately GBP 17m in revenue and grant income for 2025, excluding any potential licence fee income from UESNT.
As of the current date, Invinity reported a 2026 order book of GBP 17m, comprising around GBP 8m in signed committed contracts and GBP 9m in signed uncommitted agreements. These uncommitted projects remain subject to customer notices to proceed and other project-related milestones.
New Hungarian Sales and Cap and Floor Programme
Invinity also announced two new agreements with Central European Vanadium Storage Kft, a subsidiary of Ideona, for the supply of two Endurium systems totalling 20 MWh in Hungary. These projects, located in Veszkény and Dunaföldvár, will be co-located with solar installations and supported in part by Hungarian government funding.
Separately, the company continues to advance applications under the UK Long Duration Energy Storage Cap and Floor programme, with bids covering up to 16.7 GWh across 21 projects. Ofgem is expected to provide a final determination on the scheme in summer 2026.
