National Wealth Fund invests £12.2m in Invinity fundraising

Invinity Energy Systems has raised approximately £25m, including a £12.2m investment from the National Wealth Fund.

The National Wealth Fund’s investment forms the cornerstone of the fundraising, alongside £10m from institutional investors and approximately £2.8m from retail investors.

The proceeds will be used to expand Invinity’s manufacturing capacity, support research and development and provide working capital as the company delivers its global sales pipeline.

Invinity manufactures vanadium-flow batteries for long-duration energy-storage applications. Its technology is designed to help electricity networks, commercial and industrial customers and data centres manage increasing demand for flexible power.

The latest investment is expected to support the company’s manufacturing operations in Scotland and internationally, as well as the commercial development of its battery technology.