LONDON: Invinity Energy Systems plc (AIM: IES) (OTCQX: IESVF), a global leader in utility-grade energy storage, has signed a non-binding memorandum of understanding with Xiamen C&D Corporation Limited to explore the establishment of manufacturing facilities for vanadium flow batteries in Xiamen.
The agreement, signed during the opening of the UK Government Pavilion at the 25th China International Fair for Investment and Trade (CIFIT), marks a strategic step toward expanding Invinity’s manufacturing footprint in China. The MoU was formalized in the presence of senior British and Chinese officials, underscoring the UK’s role as the Country of Honour at this year’s CIFIT.
Under the MoU, C&D — a state-owned Fortune Global 500 company with annual revenues of approximately $100 billion — will support a proposed consortium led by Invinity in scaling up production capabilities. The Xiamen Municipal Government is expected to assist in the initiative, while C&D has indicated its willingness to provide working capital and access to its global supply chain platform to accelerate procurement, logistics, and distribution.
The consortium includes International Resources Limited, owner of South Africa’s Mapochs mine; Baojia New Energy, Invinity’s current manufacturing partner in China; and Guangxi United Energy Storage New Materials Technology Limited, which entered a strategic partnership with Invinity in July.
“Invinity is committed to leveraging strategic partnerships to meet growing global demand,” said Jonathan Marren, CEO of Invinity. “This MoU strengthens our network in Hong Kong and China and supports our ambition to scale manufacturing and supply chain operations.”
Negotiations toward binding agreements are expected to continue in the coming months.