Dentons has advised the UK Infrastructure Bank (‘UKIB’) on its £25 million direct equity investment in Invinity Energy Systems plc (‘Invinity’).
UKIB is a British policy bank, wholly owned and backed by HM Treasury. UKIB was set up to partner with the private sector and local government to increase investment in infrastructure projects that help deliver the UK Government’s ambitions for tackling climate change and promoting regional and local economic growth across the country.
Invinity, whose business is focused on developing and selling energy storage products to accelerate the global energy transition to renewable sources such as wind, solar and tidal power, is a global manufacturer of Vanadium Flow Batteries (VFBs), a leading alternative to Lithium-ion technology for the stationary energy storage market.
UKIB has agreed to invest a total of £25 million in Invinity as part of a wider fundraising which Invinity’s directors believe will help to unlock a transformational next stage for the business.
The Dentons team advising UKIB was led by Corporate partner Michael Snook with support from Corporate senior associate Verity Kent, Corporate associate Katie Henson and Energy, Transport and Infrastructure partner Gareth Tenner.
