With the need for urgent sector coupling to drive down emissions increasingly under focus, the U.K. has witnessed two recent announcements related to electric transport and energy storage.
London-based redT energy and Avalon Battery Corp, from Oakland, California, have announced plans for a £57.7 million (€63.4 million) merger to form the transatlantic Invinity Energy Systems vanadium redox flow battery manufacturer with the partners stating an intent to focus on solar-plus-storage grid scale projects around the world.
The merger was structured as a reverse takeover of listed company Avalon by private concern redT on a share-for-share basis, the Greenhouse PR company tasked with announcing the deal told pv magazine today. The new business will be headquartered in the U.K. and Canada, added the PR firm.
It was claimed Invinity has a 40-plus global project portfolio and a development pipeline that includes the supply of vanadium flow batteries to the £41 million Energy Superhub Oxford project launched in April. The English initiative will feature the installation of high-voltage cables to encourage electric vehicle (EV) take-up, including the electrification of the Oxford City Council fleet; ground source heat pumps to replace conventional electric and gas heating in more than 400 properties; and a grid scale hybrid battery. The battery system for the three-year project which is due to go live this year features a 2 MW Invinity vanadium flow device alongside a 50 MW lithium-ion battery to be supplied by Finnish energy company Wärtsilä.
The vanadium-flow company merger is aimed at uniting Avalon’s tech with redT’s “commercial business models”, according to a press release announcing the tie up yesterday.
The English company last year joined forces with Norwegian renewables business Statkraftto offer the first power purchase agreement-based vanadium-flow-plus-solar commercial solution for U.K. businesses. RedT’s vanadium flow systems were also, in 2019, the first of their kind to pre-qualify to offer dynamic firm frequency response services to the U.K. electricity transmission network.
Avalon delivered North America’s first vanadium redox flow battery project.