RedT Energy PLC redT Gen 2 unit sale (4362O)
November 07 2016 - 1:00AM
UK Regulatory
TIDMRED
RNS Number : 4362O
RedT Energy PLC
07 November 2016
redT energy plc
("redT" or the "Company")
redT Gen 2 unit sale into key African volume channel market
Milestone sale confirmed for redT Gen 2 energy storage
machine
redT energy plc (AIM:RED), the energy storage technology
company, is pleased to announce the sale of a Gen 2 energy storage
machine to Jabil Inala, a South African energy solutions provider
and systems integrator, operating across sub-Saharan Africa.
The 5kW, 30kWh redT energy storage machine will be provided by
Jabil Inala to one of Africa's largest telecoms companies. The
machine will be used to bridge power supply interruptions on the
local grid in order to maintain uninterrupted operations at a
telecom base station in South Africa.
This sale is a crucial development for the Company and
represents an important step into a key market for volume sales.
According to GSMA (Groupe Speciale Mobile Association) research,
sub-Saharan Africa has over 240,000 telecom towers providing mobile
coverage to 70% of the population. This figure is expected to grow
to over 325,000 towers by 2020, with the majority of sites situated
in either off-grid or weak-grid locations.
There is consequently a large market opportunity around the
displacement of diesel generators in the African telecoms market,
where fuel and associated costs to operators can be as high as 40%
of total network operating cost. Off-grid telecom sites consume
nearly 13,000 litres of diesel every year, at an average energy
opex of over $21,000 per site. In addition to this, the widespread
theft of diesel and conventional, disposable batteries adds
significant cost for telecoms operators in the region.
redT's energy storage machines are well suited to this
application due to their low maintenance requirements and ability
to perform 100% depth of discharge cycles on a daily basis without
significant degradation. The industrial nature and specific purpose
design of these energy storage machines ensures they are not a
target for theft.
Scott McGregor, CEO of redT said,
"We are delighted to announce this milestone sale to the market.
This opportunity to provide our energy storage machine to one of
Africa's largest telecoms companies, in one of the largest channel
markets is a great start to our Gen 2 sales program. Commercially
viable, durable energy storage solutions are now being sought to
displace costly diesel generation and disposable conventional
batteries in weak and off-grid applications. We look forward to
continuing our work across the continent and updating the market on
further sales of our Gen 2 units."
Enquiries:
redT energy plc +44 (0)207 061 6233
Scott McGregor, Chief Executive
Officer
Joe Worthington, Investor
& Media Relations
Cenkos Securities plc
Nick Tulloch +44 131 220 9772
Derrick Lee +44 131 220 9100
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 life of up to 25,000 full
charge/discharge cycles 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
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