Vanadium redox flow battery firms RedT Energy and Avalon Battery Corporation have finalised a merger with the goal of becoming a key competitor to lithium-ion technology in the growing energy storage markets.
The new firm is called Invinity Energy Systems (Invinity), and combines the existing strengths of both the UK-based RedT and the US-based Avelon.
The merger was agreed on 1 April following a shareholder meeting.
Larry Zulch, CEO of Invinity (former CEO of Avalon), said: “The merged company will be a world leader in flow batteries. This gives us the platform to compete head-to-head against incumbent lithium-ion giants, and in so doing prove that our robust, safe, non-degrading energy storage solutions are the best option for delivering the world’s ambitious decarbonisation targets.