Avalon-redT’s merged ‘Transatlantic flow battery entity’ to be called Invinity

Share on linkedin
LinkedIn
Share on twitter
Twitter
Share on reddit
Reddit
Share on facebook
Facebook
Share on email
Email
Avalon Battery systems in place at a project by NEXTracker for Ideal Energy in the US. Image: NEXTracker / Ideal Energy.

Avalon Battery and redT have revealed that their proposed merger will create a new company to be known as Invinity Energy Systems.

The pair both manufacture energy storage systems based around vanadium redox flow battery technology. They have been trailing the merger – albeit explained as a ‘reverse takeover’ in accounting terms – for some time. With Avalon based in the US and redT headquartered in the UK, the pair issued a press release today describing it as a “Transatlantic energy storage merger” which “looks to create a global sector leader”.

The deal remains subject to shareholder approval with the new company set to be valued at around £57.7 million (US$70.95 million). A press release issued in the UK claimed that vanadium flow batteries of the type made by Invinity are “a key competitor to existing lithium-ion technology in the rapidly growing global energy storage market”.

Avalon is perhaps best known as flow battery supplier to US solar tracker and PV energy solutions company NEXTracker, as well as coming up with agile ways to reduce the capital cost of the non-degrading battery technology such as renting electrolytes to customers. redT meanwhile has a deal in place with Statkraft to offer solar-plus-storage to commercial and industrial (C&I) customers. Last week the UK company was given the go-ahead to manufacture 5MWh of vanadium battery storage for a ‘showcase’ project in its home country. The pair claim to have a combined portfolio of more than 40 flow battery projects. 

As announced in November last year, Avalon CEO Larry Zulch will also lead the merged entity. 

“The merged company will be a world leader in flow batteries. This gives us the platform to compete head-to-head against incumbent lithium-ion giants, and in so doing prove that our robust, safe, non-degrading energy storage solutions are the best solution for delivering the world’s ambitious decarbonisation targets,” Larry Zulch said. 

Read Next

December 8, 2021
Equinor has acquired a 45% stake in UK utility-scale energy storage and stability services developer Noriker Power.
December 6, 2021
News in brief from around the world in energy storage, this time focusing on long-duration.
December 3, 2021
Global investment manager Quinbrook Infrastructure Partners has acquired UK-based optimisation and trading platform Habitat Energy Limited.
November 30, 2021
A tiny, coral reef-surrounded island in southern Japan will be able to use renewable energy as its main source of power, thanks to a microgrid with battery storage technology at its heart. 
November 29, 2021
Two trial projects have been announced where vanadium redox flow battery (VRFB) energy storage systems will support electric vehicle (EV) charging solutions, one in South Korea, the other in Australia. 

Most Popular

Email Newsletter