Invinity Energy Systems Announces Board Changes

Source: www.gulfoilandgas.com 9/6/2024, Location: Europe

Invinity Energy Systems plc a leading global manufacturer of utility-grade energy storage, announces that the Company's Chief Executive Officer Larry Zulch has informed the Board of his intention to retire and has stepped down as CEO and from the Board of Invinity with immediate effect.

Jonathan Marren, previously Chief Financial Officer and Chief Development Officer, has been appointed as CEO on a permanent basis to lead Invinity through the next phase of the Company's corporate journey. Jonathan will be supported on the executive team by Chief Commercial Officer Matt Harper and a new Chief Financial Officer, for which the Board has immediately commenced the selection process.

Neil O'Brien, Non-Executive Chairman at Invinity said:
"Invinity was created out of a transatlantic merger executed at the very peak of the COVID crisis. Larry led the Company through a period of unprecedented disruption and out the other side, launching a new product, the VS3 - now one of the world's most widely deployed modular flow batteries. He has been instrumental in the development and design of our next-generation product as well as being a global advocate and spokesperson not just for Invinity and the flow battery industry but for the energy transition as a whole.

"On behalf of the Board as well as the entire team at Invinity, I would like to thank Larry for the dedication, hard work, wisdom and skill he has brought to his four years as CEO at Invinity. We wish him all the best in his retirement."

Larry Zulch, Chief Executive Officer at Invinity said:
"It's been a privilege to have led Invinity from its inception in April 2020 until now. Our incredibly talented and dedicated team has successfully commercialised modular flow batteries and proven their position as the leading alternative to lithium-ion for stationary energy storage.

"The launch of our next-generation product, scheduled for later this year, will mark the next phase in Invinity's journey, making now the right time to hand over leadership. I have every faith in Jonathan, Matt, and the entire Invinity team continuing Invinity's journey toward playing a vital role in our net zero future. I will be a strong supporter, now in my capacity as a shareholder rather than an executive."


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