Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate change mitigation and adaptation
• Waste and pollution prevention
• Transition to a circular economy

Environmental Achievements

• 101 companies and funds accredited with the Green Economy Mark, a 36% increase since 2019
• Green Economy Mark issuers raised £2.6bn in 2021 year-to-date, representing 9% of total capital raised on the London Stock Exchange
• Green Economy Mark issuers outperformed global market benchmarks in share price performance over a five-year period

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Growing concerns in the financial industry over ‘greenwashing’
• Need to mobilize investment at scale in green business activities

Mitigation Strategies

• Robust framework to determine green products and services recognized through the Green Economy Mark accreditation
• Alignment of Green Economy Mark methodology with the EU Taxonomy for Sustainable Activities

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: EU Taxonomy for Sustainable Activities, TCFD, GRI

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate change
• Social Impact
• Responsible Governance

Environmental Achievements

• 72% Reduction in carbon intensity vs 2020 (base year chosen as year of Invinity’s formation)
• Three significant installations of Invinity batteries will alone contribute a reduction of more than 24,000 tonnes of annual greenhouse gas emissions.

Social Achievements

• Launched employee well-being program including health and wellbeing support, employee assistance program, and covering costs of professional subscriptions.
• Active role in local community, partnerships with education sector, work experience and internships, supporting national initiatives such as the UK Government’s STEM agenda.
• Launched Women in Technology roundtable to address challenges faced by women in the company.

Governance Achievements

• Established an ESG Committee in 2022.
• Adopted the Quoted Companies Alliance Corporate Governance Code 2018 (the QCA Code).

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Ongoing supply chain disruptions
• High costs of transport, steel and vanadium
• Non-lithium storage projects are not yet considered ‘bankable’ by project finance.
• Competition attracting & retaining skilled personnel.

Mitigation Strategies

• Moving away from sole sourcing where and when possible
• Strategic relationships, such as offtake agreements with suppliers can reduce short-term price volatility.
• A bankability study was completed during 2022
• Strict quality control procedures during manufacturing and acceptance tests prior to shipping combined with real-time performance reporting from the field into a dedicated support team.
• Continued shareholder engagement, particularly with Institutions able to make material investments.

Supply Chain Management

Responsible Procurement

• Supplier code of conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol, SME Climate Commitment

Certifications: ISO 14001

UN Sustainable Development Goals

• Goal 7
• Goal 11
• Goal 13

Sustainable Products & Innovation

• Mistral

Awards & Recognition

• London Stock Exchange’s Green Economy Mark

Environmental Metrics

ESG Focus Areas

• Climate Change
• Social Impact
• Governance

Environmental Achievements

• 91% reduction in carbon intensity vs 2020
• 2023 Group Carbon Intensity: 8.96g CO2e per £1 of recognised revenue

Social Achievements

• Increased student hires by 25% YoY
• Launched Invinity Leadership Council (ILC) to foster better culture, communication and collaboration
• Established Women in Tech Roundtable

Governance Achievements

• Adopted the Quoted Companies Alliance Corporate Governance Code
• Established an ESG Committee
• Appointed a Senior Independent Director

Climate Goals & Targets

Environmental Challenges

• Lithium battery manufacturers dominating the market
• Delays in permitting and grid interconnection
• Non-lithium storage projects not yet considered ‘bankable’
• Limited operational performance data for Mistral
• International supply chain vulnerabilities
• Negative cash flows

Mitigation Strategies

• Focus on markets where Invinity has advantages (safety, domestic content)
• Careful project screening
• Expertise in grant applications
• Cost reduction through value engineering and supply chain management
• Bankability study
• Strict quality control procedures
• Expanding manufacturing with new partners
• Continued sales growth, product development, and standardization

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol, SME Climate Commitment

UN Sustainable Development Goals

• Goal 7: Affordable and Clean Energy
• Goal 11: Sustainable Cities and Communities
• Goal 13: Climate Action

Sustainable Products & Innovation

• Mistral

Awards & Recognition

• Bloomberg New Energy Finance Global Tier 1 battery manufacturer