RedT Energy PLC 1MWh energy storage project goes live (6767H)
November 19 2018 - 1:00AM
UK Regulatory
TIDMRED
RNS Number : 6767H
RedT Energy PLC
19 November 2018
This announcement contains inside information
19 November 2018
redT energy plc
("redT" or the "Company")
Australia's largest C&I energy storage system goes live
1MWh hybrid redT system now operational at Australia's largest
university
redT energy plc (AIM:RED), the energy storage solutions company,
is pleased to announce that its 1MWh vanadium flow / lithium-ion
hybrid energy storage system is now installed and operational at a
site in Melbourne, Australia.
Situated at Monash University, the system is the largest behind
the meter C&I (Commercial & Industrial) energy storage
system to be installed in Australia and the first of its type to be
commissioned worldwide. Comprising 900kWh (12 tank units) of
vanadium flow machine technology, coupled alongside a 120kW
C1-rated lithium battery, the system is located on the roof of the
University's new Biomedical Learning and Teaching Building at
Monash's largest campus in Clayton, Victoria.
redT's energy storage solution sits at the heart of a pioneering
microgrid, storing and dispatching energy from multiple sources,
including 1MW of solar panels. By utilising the complementary
strengths of two storage technologies, the hybrid system will act
as a flexible platform, integrating with building management
systems and EV charging stations whilst enabling cutting-edge
"peer-to-pool" energy trading. This project is a core part of the
University's Net Zero Initiative, an ambitious, unprecedented
project which aims to completely transform how the university uses
energy with a target of reaching net zero carbon emissions by
2030.
The Australian energy storage market is estimated to be worth
approximately AUS $30bn by 2030 with almost 400MWh of energy
storage projects estimated to be installed in behind-the-meter
C&I applications nationwide by 2022 according to industry
consultants Delta-ee.
The Company is currently in the process of organising site
visits for interested parties including media - for further
information, please send an email to enquiries@redTenergy.com
Scott McGregor, CEO of redT said:
"Energy storage unlocking low cost renewables will bring about a
significant reduction in energy costs for Australian businesses.
Monash University is leading the market with this pioneering
project and we are proud to provide their integrated energy storage
solution.
This project will demonstrate the economic benefits of Lithium
as a short term power solution alongside Flow Machine technology
which acts as heavy duty, baseload energy storage infrastructure,
capturing more solar energy to reduce overall energy costs."
Scott Ferraro, Program Director, Net Zero Initiative, Monash
University
"We're very happy to be working with redT on this exciting
project. redT's energy storage infrastructure is one of the core
components of the microgrid being developed as part of our Net Zero
Initiative, enabling us to dispatch renewable energy more
effectively across the campus and help achieve our goal of net zero
emissions by 2030."
Enquiries:
redT energy plc +44 (0)20 7121 6111
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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