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BUDAPEST - Invinity Energy Systems plc (AIM:IES) (OTCQX:IESVF) has received formal Notice to Proceed for a 10.8 MWh ENDURIUM battery system order from Hungarian engineering firm STS Group, the company announced Friday.
The energy storage system will be installed alongside a large-scale solar PV array in western Hungary as part of a solar-plus-storage project. The installation is supported by the European Union and is expected to receive debt funding from a major European bank.
With the notice now issued, Invinity will receive a downpayment to begin manufacturing, with shipment scheduled for later this year. This marks the first commercial deployment of the company’s ENDURIUM battery technology in Europe.
STS Group, founded in 2002, specializes in renewable energy power plants and has completed over 100 projects across Hungary. The company previously purchased and installed a 1.5 MWh VS3 battery from Invinity in March 2023.
"Receiving NTP on this project is the final milestone and now allows us to progress to manufacturing and ultimately delivery of the batteries," said Jonathan Marren, Chief Executive Officer at Invinity, in the press release statement.
The order follows an earlier announcement on March 12, 2025, when the potential deal was first disclosed. Invinity describes itself as a manufacturer of utility-grade energy storage systems.
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