RedT Energy PLC Launch of Gen 3 energy storage machine (9233R)
June 20 2018 - 1:00AM
UK Regulatory
TIDMRED
RNS Number : 9233R
RedT Energy PLC
20 June 2018
This announcement contains inside information
20 June 2018
redT energy plc
("redT" or the "Company")
Launch of Gen 3 energy storage machine
Orders now being taken for next generation product
redT energy plc (AIM:RED), the energy storage solutions company,
today formally launched its third generation ("Gen 3") flow machine
at eeS Europe in Munich, Europe's largest and most international
exhibition for batteries and energy storage systems.
Featuring a new, proprietary system design, with multiple
patents filed, this new product offers improved charge/discharge
characteristics and increased efficiency within a more compact
format. redT's Gen 3 machine has been specifically engineered as a
high performance, distributed energy infrastructure asset. Designed
to unlock low cost, renewable energy for commercial customers,
utility scale grid projects and off-grid operations, the Company's
Gen 3 offering utilises unique, technical functionality embedded in
its design to achieve maximum performance and financial returns for
customers.
redT's Gen 3 product achieves technical superiority within the
energy storage industry and delivers best in class IP within the
field of flow technology. These machines are optimised for
industrial applications requiring 100kW to 2MW of power and 4 to 6
hours energy capacity. This makes the technology ideal for coupling
with renewable assets including solar, wind and tidal to maximise
customers' use of cheap renewable energy and reduce energy costs
significantly.
The Gen 3 product also has specific designed functionality
integrated within the system to enhance grid scale storage returns
for energy trading and grid services whilst delivering a fully
flexible asset for investors. When coupled with Lithium as a hybrid
energy storage asset, it allows customers to protect Lithium
batteries from degradation and extend their life. redT's grid
storage solutions are for large, megawatt-scale projects for system
sizes from 10MWh up to 50MWh.
The company is now taking orders for Q4 2018 delivery
onwards.
Scott McGregor, CEO of redT said:
"I'm very pleased to announce the commercial launch of our new
Gen 3 product in Munich today which delivers the best flow machine
IP in existence. Our dedicated design team have worked diligently
to embed advanced functionality into Gen 3 and they have delivered
a technically superior product, purpose built to unlock more cheap
renewable energy, generate enhanced returns for grid storage and
save more money on energy costs.
redT's 20 years of expertise provides customers with energy
storage designed business models to unlock more returns. Couple
this with Gen 3 embedded technical functionality, and our customers
benefit further by achieving even greater financial returns.
We've received significant pre-release demand for our Gen 3
units to date and we are very pleased to now launch Gen 3 publicly
to the market."
Enquiries:
redT energy plc +44 (0)20 7061 6233
Scott McGregor, Chief Executive Officer
Fraser Welham, Chief Financial Officer
Joe Worthington, Investor & Media
Relations
Investec Bank plc (Nominated Adviser
and Broker) +44 (0)20 7597 5970
Jeremy Ellis / Chris Sim / Alexander
Ruffman
VSA Capital (Joint Broker)
Andrew Monk / Andrew Raca +44 (0)20 3005 5000
Celicourt Communications (Financial
PR)
Mark Antelme
Jimmy Lea
Ollie Mills +44 (0)20 7520 9266
Notes to Editors
About redT energy
redT energy plc are experts in energy storage, specialising in
the design, manufacture, installation and operation of energy
storage systems which create revenue alongside reliable, low-cost
renewable generation for businesses, industry and electricity
distribution networks. Using patented vanadium redox flow
technology to store energy in liquid, redT's own energy storage
machines can be run continually with no degradation: charging and
discharging for over 25 years, matching the lifespan of renewable
assets in on-grid, off-grid and weak-grid settings.
redT's energy storage solutions, developed over the past 15
years, address today's changing energy market by providing a
flexible platform for time shifting surplus renewable power,
securing electricity supplies and earning revenue through grid
services. The company has operating machines deployed with
customers in the UK, Europe, sub-Saharan Africa, Australia and Asia
Pacific. redT energy plc is listed on the London Stock Exchange
(AIM:RED) and has offices in the UK, Africa and the USA. For more
information, visit www.redTenergy.com
For sales, press or investor enquiries, please contact the redT
team on +44 (0)207 061 6233.
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END
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