David
Very sorry I will not be at the meeting on Monday. I am still recovering slowly
from my little ‘incident’ the other week and Beth and I have decided a bit of
R&R away in a hotel in Devon might be a smart idea !
There is not much news on either Real Estate Investors or SIMEC – RLE is down a
bit with the rest of the markets and remains a HOLD, SIMEC is up 55% following
a lot of buying in the last week which is not apparently supported by any news,
maybe just speculation that the Government’s review of strategy on domestic
power generation may tip the Welsh Government towards a more positive view on
Uskmouth. There is a bit more activity on tidal, but nothing very noteworthy –
still a HOLD.
I have watched Shopify drift downwards with the US Tech collapse, but it now
looks like it may have reached a low point at about 66% below its peak and
might now be worthy of consideration as a BUY.
Invinity Energy Systems is showing signs of more activity, has now dual listed
on the AQUIS growth stock exchange as well as AIM and has won government
funding for a feasibility study towards development of the UK’s largest – 40MWh
- storage enabled solar power installations. The share price is now moving
upwards and is 50% above it’s January low so might now be worth considering as
a BUY. My earlier notes on this Company are below.
Have a good meeting.
Best regards
Richard
Invinity Energy Systems (LON:IES) was formed in April 2020 as the result of a
merger between AIM listed RedT energy PLC and Canada based Avalon Battery
Corporation, two vanadium flow battery manufacturers.
Vanadium flow batteries are a form of non-degrading energy storage, already
used and proven as a key alternative to conventional lithium-ion batteries.
Vanadium flow batteries are a form of heavy-duty, stationary energy storage,
used primarily in high-utilization applications such as being coupled with
industrial scale solar and wind generation for low-carbon energy projects. Its
flow batteries store energy in a non-flammable, liquid electrolyte, held in
tanks within a self-contained module. Its storage markets are Europe, North
America, Asia, Australasia and Africa. The combined Group’s Vanadium Flow
Battery ("VFB") technology is backed by over 15 years of development, 73
patents and approximately £40m of investment. A flow battery is a cross between
a conventional battery and a fuel cell.
Invinity VFB storage systems are a commercially viable alternative to existing
battery technology such as lithium-ion and address the shortcomings of
conventional lithium-ion battery technology for backup storage. VFBs are
already amongst the cheapest storage available on a full-project life basis,
reflecting their very long life (20+ years) compared with lithium-ion
batteries. They are also regarded to be safer than lithium-ion - the large
number of reported fires from lithium-ion batteries highlights the risk - 20
lithium-ion fires were reported in South Korea in 2018/19.
To date, approximately 10 MWh of Invinity flow batteries have been installed by
IES at more than 40 sites, in 15 different countries, with a further 17.8 MWh
currently under contract for delivery in 2021/2 and a pipeline of a further
362mwh for 2022/23 (worth maybe $300m).
The Company has minimal revenue for 2021 (£5m), however is beginning to
commercialise it’s technology, but will be unprofitable until sales volumes
increase. It does have net cash of around £40m though after a recent fundraise.
At the moment while I like the technology and the potential particularly in
terms of offering an alternative to lithium-ion for storage in the very fast
growing renewable energy sector I don’t have sufficient confidence to recommend
this as a buy unless we are prepared to accept the risks that go with such an
early stage business.
From: David Hutchison
Sent: Friday, March 11, 2022 10:54 AM
To: wvic@xxxxxxxxxxxxx ; Nigel Wood ; Ray Palmer
Cc: Robin Phayre
Subject: [wvic] WVIC Monday 14 March
Dear everyone,
We meet on Monday at the Phayres at 7pm. Seating is limited to 12, so would
you please contact Robin & Jane (email above) to say if you are coming and the
first 12 to respond get the seats!
As Covid is still about, and afflicting several folk in Great Durnford, would
everyone attending please have a Lateral Flow Test beforehand.
Having read the Minutes from Feb I note that Putin’s aggression was deemed “a
concern” and that it was decided to "Hold all. But some suggested the
opposite.” That would have made Monday’s meeting even more interesting!
I enclose the usual bumf.
Best wishes
David
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Dear everyone,
We meet on Monday at the Phayres at 7pm. Seating is limited to 12, so would
you please contact Robin & Jane (email above) to say if you are coming and the
first 12 to respond get the seats!
As Covid is still about, and afflicting several folk in Great Durnford, would
everyone attending please have a Lateral Flow Test beforehand.
Having read the Minutes from Feb I note that Putin’s aggression was deemed “a
concern” and that it was decided to "Hold all. But some suggested the
opposite.” That would have made Monday’s meeting even more interesting!
I enclose the usual bumf.
Best wishes
David
