VSA Capital is pleased to have acted as Financial Adviser and Joint Broker on the £56m raise by Invinity Energy Systems Plc .Â
The Company is also enabling existing qualifying shareholders to participate in an open offer at the issue price to raise additional gross proceeds of up to £6.6m.Â
The deal, which is subject to a general meeting on the 22 May, was strongly supported by strategic investors including the UK Infrastructure Bank which has made an investment of £25m marking its first investment on public markets. The use of proceeds will support the commercialisation of the Company’s new generation Mistral battery it has developed with Siemens Gamesa as well as providing ring fenced capital for UK owner-operated projects using Invinity Vanadium Flow batteries. It also launched a Licence & Royalty model for sales in Taiwan, Korea and Japan.Â