RedT Energy PLC Management Team Update (3910H)
November 15 2018 - 1:01AM
UK Regulatory
TIDMRED
RNS Number : 3910H
RedT Energy PLC
15 November 2018
This announcement contains inside information
15 November 2018
redT energy plc
("redT" or the "Company")
Management Team Update
Energy Assets Director appointed to manage redT storage
portfolio
redT energy plc (AIM:RED), the energy storage solutions company,
is pleased to announce the appointment of Ed Porter to the role of
Energy Assets Director with effect from 2 December 2018. Ed will
take responsibility for business development activity for new
grid-scale energy storage projects and will lead the asset and
revenue optimisation of redT's energy storage assets under
management, maximising revenues gained from the operation of redT
energy storage infrastructure.
Ed joins redT after more than four years at Gazprom Marketing
& Trading, the energy marketing and trading arm of Gazprom. He
most recently held the position of Power Portfolio Manager, where
he was responsible for 1GW of UK assets under management including;
energy storage, gas peakers and a range of renewable generation. As
part of this role he also developed commercial market strategies
for these assets and undertook business development within the UK
market. Prior to this, Ed held various senior positions within the
fields of energy trading and asset optimisation, strategy and
business development for Gazprom, RWE npower and Innogy Renewables.
Ed holds a Master of Engineering degree from St Catherine's
College, Oxford University.
The Company also announces that David Stewart stepped down as
Chief Operating Officer on 14 November 2018. During almost two
years at redT, David made an important contribution to the
business, both technically and commercially throughout redT's
growth phase, and has been a valued member of the executive
leadership team.
David will remain as a Non-Executive Director and continue to
sit on the Board of Directors until 7 January 2019. His executive
responsibilities will be assumed by Paul Docherty, redT's
Operations Director, who joined redT earlier this year from Jabil
Circuit inc. and Jean-Louis Cols, redT's Technology Director, who
also joined earlier this year and brings over 25 years of complex
engineering and R&D experience across multiple fields including
fuel cells and energy storage systems.
Scott McGregor, CEO of redT said:
"I'm very pleased to have Ed joining the redT commercial team.
Ed has a wealth of experience in the energy markets having
developed and managed 1GW of UK assets. His experience will
accelerate redT's business development and asset management of our
large-scale, 'Mega' projects, implementing energy storage
infrastructure at grid level across the world. We are extremely
pleased to have attracted someone of Ed's calibre to redT.
I'd also like to thank David for the positive influence he has
had on the redT business during a period of rapid expansion for the
Company. Dave's personal dedication, relentless efforts to see us
through our early growth stage of the Company and commitment to our
success has been invaluable and we wish him all the best for his
future endeavours."
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 infrastructure which creates 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 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 experts located in the
UK, Europe, Australia, Africa, Asia 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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