LONDON, UK: Invinity Energy Systems (AIM: IES), a leading global manufacturer of utility-grade energy storage, has signed a non-binding Memorandum of Understanding (MoU) with Dawsongroup Power Solutions Limited with the intention of appointing Dawsongroup as Invinity’s exclusive partner for the UK equipment rental market.
Dawsongroup has also purchased a 0.22 MWh Invinity VS3 battery which will be installed at the company’s headquarters in Milton Keynes, UK later this year.
The system will be used as a showcase project, providing Dawsongroup’s corporate customers the opportunity to view Invinity’s vanadium flow battery technology in operation.
Dawsongroup is one of Europe’s leading asset rental, leasing and contract hire businesses and is the UK’s largest in this sector, owning over 31,000 premium supply chain assets including transport, municipal services and cold storage which are rented to a broad customer base of large, reputable companies.
The group is committed to reducing its environmental impact, through fleet electrification and using more renewable energy, that will allow its customers to accelerate their transition to net zero.
With the MoU signed, both parties will now work to conclude a definitive partnership agreement that would see Dawsongroup procure battery storage products exclusively from Invinity and become Invinity’s exclusive rental partner in the UK. Both parties see strong potential for a rental market in the UK for vanadium flow batteries and expect to target customer commitments of more than 50 MWh over the next two years.
Lee Vines, Managing Director at Dawsongroup said: “Dawsongroup Power Solutions’ proposed partnership with Invinity is an exciting step towards supplying sustainable solutions for our customers. Invinity’s vanadium flow batteries combined with our Smarter Asset Strategy will provide renewable energy that is safe, reliable and economical for the most demanding applications; ideal for the transition to net zero.”
Matt Harper, Chief Commercial Officer at Invinity said: “Flexible equipment ownership is a great way for organizations to increase operational efficiencies. Invinity already has a strong book of business where our vanadium flow batteries are decreasing energy bills and accelerating decarbonisation for commercial and industrial customers by providing on-site, clean power. We’re very excited to work with Dawsongroup to deliver those same benefits to customers whose needs include agile worry-free asset ownership, significantly expanding our commercial opportunities.”