Blake Morgan advises AIM-quoted Invinity Energy Systems Plc on £25 million conditional fundraising

Blake Morgan Equity Capital Markets team has advised AIM‑quoted Invinity Energy Systems Plc (Invinity), a global leader in vanadium flow battery technology, on its £25 million conditional fundraising (the Fundraising). The Fundraising is conditional on certain conditions including the passing of resolutions at a general meeting of the Company being held on 11 November 2026.

The Fundraising includes a subscription, placing and retail offer comprising:

• The issue of 121,976,365 new ordinary shares at an issue price of 10 pence per share (the Issue Price) to raise gross proceeds of approximately £12.2 million by way of direct subscription from the cornerstone investor the National Wealth Fund Limited (NWF);
• The issue of 100,000,000 new ordinary shares at the Issue Price to raise gross proceeds of approximately £10,000,000 through an oversubscribed placing by way of an accelerated bookbuild (the Placing)
• The issue of 28,023,635 new ordinary shares at the Issue Price to raise gross proceeds of approximately £2.8 million for the retail offer via the Winterflood Retail Access Platform (the Retail Offer).

The Fundraising will enable the Company to progress its product cost reduction plans, building on the margin improvements reported in the H1 2026 results and strengthen its working capital position as the Company delivers against key commercial and corporate milestones.

The Blake Morgan team was led by Partner Joan Yu, supported by Senior Associate Cameron Sutton and Trainee Solicitor Samia Ahmed.

Commenting on the transaction, Joan Yu said:

Blake Morgan has a nationally recognised Corporate and Equity Capital Markets practice both ranked in Legal 500, with deep experience advising listed and privately owned companies, investors, and financial institutions. The team provides comprehensive support across the full spectrum of corporate activity, including fundraisings, IPOs, secondary issues, M&A transactions, joint ventures, restructurings and ongoing corporate governance.