Invinity Energy Systems is considering withdrawing its planned UK manufacturing expansion.
The decision follows Ofgem shortlisting only one project featuring the company’s vanadium flow battery technology for the government’s Long-Duration Energy Storage (LDES) support scheme.
CEO Jonathan Marren stated the provisional shortlist misaligns with government goals for domestic reindustrialization and industrial support.
Invinity is now reviewing its UK operations and may prioritize projects in Europe and the United States.
The company plans to engage with policymakers during the consultation process to seek an outcome that aligns with government objectives.