RedT Energy PLC First redT Gen 2 machine dispatched (1246Q)
25 November 2016 - 6:00PM
UK Regulatory
TIDMRED
RNS Number : 1246Q
RedT Energy PLC
25 November 2016
redT energy plc
("redT" or the "Company")
First redT Gen 2 machine dispatched from manufacturing
facility
Further Gen 2 machine sold to University of Strathclyde
redT energy plc (AIM:RED), the energy storage technology
company, is pleased to announce that its first Gen 2 energy storage
machine has been manufactured and shipped to the Company's
development centre. The 5kW, 20kWh machine will be commissioned and
used for customer demonstrations and training at the Company's
Wokingham-based development site. A second, larger Gen 2 15kW,
75kWh machine is currently being manufactured for redT's customer,
the Thaba Eco hotel, which is located in Johannesburg, South
Africa.
By incorporating the knowledge obtained from redT's Gen 1 market
seeding programme, the Company's production and engineering team
have been able to make substantial cost reductions and achieve a
market competitive system price, starting at $490/kWh for its Gen 2
energy storage machines.
redT is also pleased to announce an additional commercial sale
of a Gen 2 energy storage machine to University of Strathclyde. The
5kW, 20kWh machine will be used as part of a joint project between
Gaia Wind and University of Strathclyde at a site in Glasgow,
Scotland. The unit will be used alongside a grid connected
renewables project to demonstrate the benefits redT's energy
storage machines can provide Gaia Wind's commercial customers.
Given the level of customer interest redT has seen to date for
its Gen 2 units, the Company continues to focus on the full-scale
roll-out of its Gen 2 machines into key application markets over
the coming months.
Scott McGregor, CEO of redT said,
"I am pleased to report that we have now manufactured and
shipped our first Gen 2 energy storage machine. This is one of the
cheapest containerised Vanadium Redox Flow Machines available on
the market today and we believe that this price point, starting at
$490/kWh, is sufficient to unlock the market for large scale,
commercial energy storage in the UK, Europe and Africa.
We continue to see a considerable amount of customer interest as
we now focus on the sales and marketing of our Gen 2 machines."
Enquiries:
redT energy plc +44 (0)207 061 6233
Scott McGregor, Chief Executive
Officer
Joe Worthington, Investor
& Media Relations
Cenkos Securities plc +44 131 220 9772
Nick Tulloch +44 131 220 9100
Derrick Lee
Celicourt (Financial PR)
Mark Antelme
Joanna Boon
Jimmy Lea +44 (0)20 7520 9266
Notes to Editors
About redT energy
redT energy develops and supplies durable and robust energy
storage machines based on proprietary vanadium redox flow
technology for on and off-grid applications. The liquid storage
medium affords an exceptionally long system life of up to 25 years
and a 100 per cent usable depth of discharge. Combined with low
maintenance requirements, this delivers industry leading lowest
levelised cost of storage (LCOS) and total cost of ownership (TCO)
results. The modular approach allows the power and energy
components of systems to be independently sized to meet customer
requirements.
Until now it has not been possible to directly compare variable
renewable energy generation sources with diesel or fossil fuel
generation. PV + Storage is now reaching 'grid parity' in many
countries, a paradigm shift in energy production, which will
ultimately enable a distributed energy network optimising
conventional and renewable generation. The redT energy storage
machine has applications in remote power, smart grids, power
quality, and all aspects of renewable energy management.
To find out more about redT products or to register your
interest in purchasing an energy storage machine please go to the
below web address:
http://www.redtenergy.com/register-interest
For sales enquiries, please email enquiries@redtenergy.com or
call +44 (0) 207 061 6233
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDBIBRTMBJTBLF
(END) Dow Jones Newswires
November 25, 2016 02:00 ET (07:00 GMT)
Invinity Energy Systems (LSE:IES)
Historical Stock Chart
From Apr 2024 to May 2024
Invinity Energy Systems (LSE:IES)
Historical Stock Chart
From May 2023 to May 2024