Appointment of Director

RNS Number : 0050P

RedT Energy PLC

15 February 2016

 

RNS

15 February 2016

redT energy plc

("redT" or the "Company")

Appointment of Director

The board of redT is pleased to announce the appointment of John Ward as Non-Executive Director of the Company, with immediate effect.

John Ward, aged 46, has over 13 years' experience as a director in the renewable energy sector. John is director and owner of three operational wind farms in Ireland. In each case, John designed, financed and developed/operates the facilities.

John has been an investor in the REDH business since December 2009, providing further funding on several occasions since then. Through his private investment vehicle (Alchemy Projects Limited), John is beneficially interested in 97,419,319 Ordinary Shares in the Company, respectively 21.1 per cent. of the issued share capital of the Company which were acquired as part of the roll-up of minority interests in REDH Ltd as announced on 30 September 2015.

Current directorships held by Mr Ward and directorships held by him in the last five years are as follows:

Current directorships:	Former directorships held in the last 5 years:
Aeren Renewables Limited	Maxboley Wind Energy Limited
Aerowest Wind Farm Limited	Rathyork Wind Energy Limited
Alchemy Projects Limited	Tapbury Limited
Altnagapple Wind Limited	The Irish Landscape Institute Limited
Ardagh Wind Energy Limited	Vevila Limited
Bartron Limited
Edenfinfreagh Wind Energy Limited
Fintown Hydro Limited
Garves Wind Limited
Helianthus Limited
Highland Wind Energy Limited
Ion Renewables Limited
Lackan Wind Energy Limited
Redwind Energy Limited
Renergy Limited
Renewable Energy Dynamic Holdings Limited
Renewable Energy Dynamics Technology Limited
Straboy Wind Energy Limited
Tangaveane Wind Energy Limited
Windy Meadow Holdings Limited

There is no further information disclosable in respect of Mr Ward's appointment, pursuant to Schedule 2(g) of the AIM Rules for Companies.

Enquiries:

redT energy plc	[phone]
Scott McGregor, Chief Executive Officer
Jonathan Marren, Chief Financial Officer
finnCap Ltd (Nominated Adviser and Broker)	[phone]
Julian Blunt (Corporate Finance)
Tony Quirke (Corporate Broking)
Celicourt (Financial PR) Mark Antelme	[phone]

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.

 

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