- Wind energy’s reliability challenge and its impact on the UK grid
- The potential of vanadium flow batteries to address energy storage issues
- Invinity’s growth prospects and partnership with Siemens in the battery market
Wind power now provides nearly a third of the United Kingdom’s electricity, surpassing all other sources, including petroleum. Costs have decreased while capacity has increased and turbines have been constructed. However, the wind is unreliable.
On tranquil days, it is in short supply. On windy days, excessive. This causes issues. When wind turbines produce more energy than the grid can absorb or disseminate, they are simply instructed to cease production.
According to the think tank Carbon Tracker, the process has cost approximately £1.5 billion and wasted enormous quantities of energy, enough to power over a million homes.
This issue worsens each year, making renewable energy more expensive than it should be and delaying the United Kingdom’s transition to a future without fossil fuels.
Infinity Energy Systems can assist in resolving the problem. The company manufactures vanadium flow batteries that are secure, durable, and capable of storing electricity for several hours.
Infinity shares are currently valued at 35 pence per share and are expected to appreciate significantly as the company expands its battery distribution not only domestically but globally.
Lithium batteries currently dominate the market. Utilized in mobile devices, computers, and electric vehicles, these batteries are ‘energy dense’ so they can store a great deal of energy for their dimensions.
However, they are better adapted for brief power surges and degrade within a few years. They are also highly flammable, necessitating extreme caution in their installation and maintenance.
Vanadium flow batteries are constructed with an entirely different chemical composition. Ideal for storing large amounts of energy and discharging it over several hours, they retain their potency for decades and pose no danger of overheating or igniting.
Additionally, these batteries are approximately 30% more expensive than their lithium counterparts. In 2021, Infinity partnered with the German engineering behemoth Siemens to create a battery that was both affordable and more effective than anything that had come before. The Mistral package is currently undergoing testing in Canada, and it is anticipated that commercial sales will begin the following year.
Siemens selected Invinity for a reason; the company has sold more vanadium flow batteries than any other operator and has assembled a world-class team in Bathgate, Scotland.
The group has produced results. Mistral’s up-front costs will be comparable to those of lithium batteries, but the product will last substantially longer, resulting in significantly lower lifetime costs.
Brokers anticipate that Mistral will accelerate Invinity’s growth. This week, sales figures for 2022 will be released, and they should total approximately £3.6 million.
This year, however, it is anticipated that sales will increase to £25 million, more than doubling to £53 million in 2024.
As a result of chief executive Larry Zulch’s investment in the company’s future, Invinity is currently operating at a loss, but its future looks promising.
This year alone, interest in Invinity’s products has skyrocketed. Zulch received £11 million from the government in April to build the largest vanadium flow battery outside Asia.
This should be provided the following year. Major initiatives are also underway in Australia, Canada, and California, and battery requests are increasing rapidly.
Rising demand makes logic. Unpredictability can be managed when renewable energy accounts for a minor portion of a country’s total power. However, as wind and solar continue to displace fossil fuels, the demand for efficient storage increases in tandem.
According to estimates, the United Kingdom will require 46 gigawatts (46,000 megawatts) of battery energy storage by 2035, with half of that amount anticipated to come from so-called long-duration products, such as vanadium flow batteries.
The majority of our 2,6 gigawatts of energy storage can barely power one or two hours.
Neither is the necessity limited to this country. Government subsidies are fueling the growth of renewable energy facilities in the United States, necessitating efficient storage. To meet renewable energy goals by 2030, California policymakers must boost storage capacity by eight.
Canada and Australia are also investing heavily in renewable energy, and interest in Asia is growing.
Invincibility has a tumultuous heritage. A merger between US-based firm Avalon and AIM-listed vanadium battery manufacturer RedT resulted in the formation of the group. The merged company should experience increased success. Its technology is cutting-edge, Zulch is a clever operator, and demand for safe, reliable, and resilient storage is rising rapidly.
Invinity is working with engineering giant Siemens and has global support, making it a safer investment than a losing company. At 35 pence per share, the stock should perform well.
