RedT Energy PLC Appointment of Non-Executive Director (3782J)
September 09 2016 - 1:00AM
UK Regulatory
TIDMRED
RNS Number : 3782J
RedT Energy PLC
09 September 2016
9 September 2016
redT energy plc
("redT" or the "Company")
Appointment of Non-Executive Director
redT energy plc, the energy storage technology company, is
pleased to announce the appointment of Neil O'Brien, aged 53, as
Non-Executive Director of the Company, with immediate effect.
Neil Christoper O'Brien's most recent role was as CEO of AIM
listed Alkane Energy ('Alkane') which he joined in 2008. Under his
leadership, the Company achieved rapid output increases through a
combination of organic growth and acquisition activity. Alkane
expanded its UK portfolio of baseload power generating sites and
established a leading position in the UK back-up power market
covering winter peaking, National Grid "STOR" programme and the
capacity market. During this period, Neil became a non-executive
director of Egdon Resources, an AIM listed oil and gas exploration
company. Neil stepped down from his position as CEO of Alkane
following the acquisition of the Company by Balfour Beatty
Infrastructure earlier this year.
Before joining Alkane Energy, Neil was Financial Director of
Speedy Hire Plc where he spent nine years in the role and during
his tenure oversaw consistently strong profit growth year on
year.
Neil started his career at Coopers & Lybrand in 1985, where
he qualified as a chartered accountant, before joining Blue Circle
in 1988, holding a number of senior financial and operational roles
in the UK and Europe. He then spent three years as a Group
Management Accountant at Aggregate Industries.
Neil read Politics, Philosophy and Economics at Oriel College,
Oxford University.
There is no further information disclosable in respect of Mr
O'Brien's appointment, pursuant to Schedule 2(g) of the AIM Rules
for Companies.
Dr Jeff Kenna, Chairman of redT said:
"We are extremely pleased to be able to welcome Neil to the
Board. Following a distinguished career to date, he brings with him
a wealth of relevant experience within the energy sector, across
finance and growth of AIM listed companies.
"Neil joins us at an extremely exciting time for redT. The need
for industrial scale energy storage systems has never been greater
and as we begin to market our technically and commercially
attractive second generation product, we are well placed for the
future."
Neil O'Brien commented:
"The power market is facing significant change over the coming
years to facilitate the move to low carbon generation. redT is
positioning its storage product to meet the needs of grids
requiring flexible and cost effective supply that co-exists with
intermittent renewable power. I am delighted to be joining the
group at this exciting time in its development."
Current directorships: Former directorships held in the last 5
years:
South Gables Limited Egdon Resources plc
Eastern Pegasus Limited
Alkane Energy Limited
Seven Star Natural Gas Limited
Coalgas (Cymru) Limited
Alkane Services Limited
Coalgas (Europe) Limited
Leven Power Limited
Alkane Biogas Limited
Rhymney Power Limited
MW Renewables Limited
Regent Park Energy Limited
Darent Power Limited
Alkane Energy UK Limited
Enquiries:
+44 (0)207 121
redT energy plc 6100
Scott McGregor, Chief Executive Officer
Joe Worthington, Investor & Media Relations
finnCap Ltd (Nominated Adviser and +44 (0)207 220
Broker) 0500
Julian Blunt (Corporate Finance)
Tony Quirke (Corporate Broking)
Celicourt (Financial PR)
Mark Antelme +44 (0)20 7520
Joanna Boon 9266
About redT energy
redT energy develops and supplies durable and robust energy
storage systems based on proprietary vanadium redox flow technology
for on and off-grid applications. The liquid storage medium affords
an exceptionally long life of over 10,000 full charge/discharge
cycles and a 100 per cent. usable depth of discharge. Combined with
low maintenance requirements, this delivers industry leading
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 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 a distributed energy network optimising
conventional and renewable generation. The redT energy system 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 a unit 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
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