Camco Clean Energy PLC REDT Energy wins Irish Times innovation award
April 22 2015 - 8:33AM
RNS Non-Regulatory
TIDMCCE
Camco Clean Energy PLC
22 April 2015
22 April 2015
Camco Clean Energy plc
("Camco" or "the Company")
REDT Energy wins prestigious Irish Times innovation award
Camco Clean Energy (AIM: CCE) is pleased to announce that REDT
Energy* has been awarded a major prize at The Irish Times
InterTradeIreland Innovation Awards 2015.
REDT's patented liquid energy storage system, which stores and
generates energy efficiently and inexpensively, won the 'Energy
& The Environment' category. The REDT storage system addresses
energy storage needs of medium to large applications for renewable
energy, off-grid diesel replacements and capacity reserve &
grid support.
Over 220 guests attended the event at Belfast City Hall
including Northern Ireland's Minister for Enterprise, Trade and
Investment Arlene Foster. In addition to the award, REDT Energy
will receive a EUR10,000 Irish Times media package.
The Awards, which is in its sixth year, is designed to showcase
and reward excellence in innovation across a range of products and
services throughout Ireland.
Aidan Gough, InterTradeIreland Strategy and Policy Director, who
presented the Company with its award said:
"Across all sectors, innovation gives companies a competitive
advantage and opens up new opportunities for them. We know that
innovative companies generate growth and create jobs and that is
why it is so important to foster a culture of constant innovation.
We look forward to following the future success not just of our
winners, but all of the nominees and the pioneering companies which
entered the competition."
Michael McAleer, Innovation Editor at The Irish Times, said:
"Year after year, it's tremendous to witness firsthand the
creativity, the skills and the dedication which all the nominated
companies bring to their endeavours. This year was no different and
the Awards provided a wonderful showcase for our innovators and
their wide range of groundbreaking products from all over the
island of Ireland. Many of these companies will no doubt go on to
become industry leaders".
John Ward, President of REDTenergy, said:
"The key to unlocking wind renewable generation across Ireland
is viable and cost effective energy storage which is what we are
delivering with our patented technology."
For more information on all the winners or to view all the
shortlisted videos, please visit
www.irishtimes.com/blogs/innovation-awards
Enquiries:
+44 (0)20 7121
Camco Clean Energy 6100
Scott McGregor, Chief Executive Officer
Jonathan Marren, Chief Financial Officer
+44 (0)20 7220
FinnCap Ltd (Nominated Adviser and Broker) 0500
Julian Blunt (Corporate Finance)
Tony Quirke (Corporate Broking)
Newgate (Financial PR)
+44 (0) 207 653
Tim Thompson, Helena Bogle, Edward Treadwell 9850
About Camco Clean Energy
Camco Clean Energy plc (AIM: CCE) is a clean energy development
company which combines technical and commercial expertise to
finance, develop, and operate renewable energy projects and storage
technology.
With 25 years of experience and an outstanding track record
throughout Asia, North America, Africa and Europe, Camco works with
local developers, governments, development banks, and private
investors to implement clean energy projects, policies, and
technologies and reduce emissions.
In the last year, Camco brought an advanced energy storage
technology to market (REDT energy), secured an investment advisory
fund mandate for African renewables, and has developed utility
scale biogas plants in the US.
About REDT
REDT has developed a new and proprietary energy storage
technology which enables the efficient and sustainable storage of
electrical energy in liquid form. The multi-valent properties of
the Vanadium Redox electrolyte are used to provide a storage medium
of virtually unlimited life with a system able to last more than
10,000 deep charge/discharge cycles. Combined with its very low
maintenance requirements, REDT systems are able to deliver some of
the lowest Total Cost of Ownership (TCO) results in the industry.
Long discharge durations are achieved by the simple addition of
extra electrolyte capacity at a relatively low marginal cost.
Until now it has not been possible to directly compare variable
RE generation with firm 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 the
complete displacement of conventional fossil fuel power with
renewable generation. The REDT system has applications in remote
power, smart grids, power quality, and all aspects of renewable
energy management.
* Camco Clean Energy plc, on a fully diluted basis, has an
economic interest of 49% in REDT.
This information is provided by RNS
The company news service from the London Stock Exchange
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