Appointment of Non-Executive Director

RNS Number : 3782J

RedT Energy PLC

09 September 2016

 

9 September 2016

redT energy plc

("redT" or the "Company")

Appointment of Non-Executive Director

redT energy plc, the energy storage technology company, is pleased to announce the appointment of Neil O'Brien, aged 53, as Non-Executive Director of the Company, with immediate effect.

Neil Christoper O'Brien's most recent role was as CEO of AIM listed Alkane Energy ('Alkane') which he joined in 2008. Under his leadership, the Company achieved rapid output increases through a combination of organic growth and acquisition activity.  Alkane expanded its UK portfolio of baseload power generating sites and established a leading position in the UK back-up power market covering winter peaking, National Grid "STOR" programme and the capacity market. During this period, Neil became a non-executive director of Egdon Resources, an AIM listed oil and gas exploration company. Neil stepped down from his position as CEO of Alkane following the acquisition of  the Company by Balfour Beatty Infrastructure earlier this year.

Before joining Alkane Energy, Neil was Financial Director of Speedy Hire Plc where he spent nine years in the role and during his tenure oversaw consistently strong profit growth year on year.

Neil started his career at Coopers & Lybrand in 1985, where he qualified as a chartered accountant, before joining Blue Circle in 1988, holding  a number of senior financial and operational roles in the UK and Europe.  He then spent three years as a Group Management Accountant at Aggregate Industries. 

Neil read Politics, Philosophy and Economics at Oriel College, Oxford University.

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

Dr Jeff Kenna, Chairman of redT said:

"We are extremely pleased to be able to welcome Neil to the Board.  Following a distinguished career to date, he brings with him a wealth of relevant experience within the energy sector, across finance and growth of AIM listed companies.

"Neil joins us at an extremely exciting time for redT.  The need for industrial scale energy storage systems has never been greater and as we begin to market our technically and commercially attractive second generation product, we are well placed for the future."

Neil O'Brien commented:

"The power market is facing significant change over the coming years to facilitate the move to low carbon generation.  redT is positioning its storage product to meet the needs of grids requiring flexible and cost effective supply that co-exists with intermittent renewable power.  I am delighted to be joining the group at this exciting time in its development." 

Current directorships:                                Former directorships held in the last 5 years:

South Gables Limited                                    Egdon Resources plc

                                                                       Eastern Pegasus Limited

                                                                       Alkane Energy Limited

                                                                       Seven Star Natural Gas Limited

                                                                       Coalgas (Cymru) Limited

                                                                       Alkane Services Limited

                                                                       Coalgas (Europe) Limited

                                                                       Leven Power Limited

                                                                       Alkane Biogas Limited

                                                                       Rhymney Power Limited

                                                                       MW Renewables Limited

                                                                       Regent Park Energy Limited

                                                                       Darent Power Limited

                                                                       Alkane Energy UK Limited

Enquiries:

redT energy plc	[phone]
Scott McGregor, Chief Executive Officer
Joe Worthington, Investor & Media Relations
finnCap Ltd (Nominated Adviser and Broker)	[phone]
Julian Blunt (Corporate Finance)
Tony Quirke (Corporate Broking)
Celicourt (Financial PR) Mark Antelme Joanna Boon	[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.

To find out more about redT products or to register your interest in purchasing a unit please go to the below web address:

http://www.redtenergy.com/register-interest

For sales enquiries, please email [e-mail] or call [phone]

 

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