Board Changes

RNS Number : 0560D

RedT Energy PLC

24 April 2017

 

24 April 2017

redT energy plc

("redT" or the "Company")

Board Changes

redT energy plc (AIM:RED), the energy storage technology company, is pleased to announce the appointment of Scott Laird, Finance Director, and David Stewart, Commercial Director, to the Board effective from 25^th April 2017. The Company also announces that Zainul Rahim has indicated his intention to step down from his role as a Non-Executive Director at the next AGM.

Scott Laird

Scott joined redT in 2015 and has played a key role in establishing the financial structure of the Company and ensuring tight financial control during the early growth phase. Scott was previously Financial Controller of Energy Assets plc during which he oversaw a successful high growth phase similar to that of redT. Before that, Scott was Finance Manager at Harsco Corporation. Scott is a qualified accountant and member of the Chartered Institute of Management Accountants. 

David Stewart

David joined redT earlier this year and has taken on a pivotal role leading redT's Commercial Sales, Software, Customer Support and Implementation teams. David was formerly the Director for Strategic Investment at Jabil Circuit Inc. and has extensive experience working with high growth technology product businesses such as; Hewlett Packard, Keysight and Oracle ERP Implementation. David has a BEng in Electrical & Electronic Engineering from Edinburgh Napier University.

Jeff Kenna, Chairman of redT commented:

"We are extremely pleased to welcome both Scott and David to the Board of redT.  Scott has been invaluable during his time at the Company and David has made a significant impact since he joined. I look forward to working with them as we look to capitalise on our position as a market leader in the energy storage sector.

I would also like to thank Zainul Rahim for his contribution to the Company over the past five years.  He has played a pivotal role in redT's corporate development and we wish him all the best in his future endeavours."

Save for the information disclosed below, there are no further disclosures to be made in accordance with Schedule Two paragraph (g) of the AIM Rules for Companies in respect of Mr Laird and Mr Stewart.

Full name:	Scott James Neilson Laird	David Stewart
Age:	35	48
Current Directorships:	Camco Services UK Ltd	None
	Camco Sales Ltd
	Camco Holdings UK Ltd
	Renewable Energy Dynamics Technology UK Ltd
	Re-Fuel Technology Ltd
	redT energy Ltd
Shareholding in the Company:	Mr Laird holds 3,779,661 options over ordinary shares in the Company, which were awarded under the 2015 redT Employee Share Plan  and are yet to vest	Mr Stewart holds 4,000,000 options over ordinary shares in the Company, which were awarded under the 2015 redT Employee Share Plan  and are yet to vest

Enquiries:

redT energy plc	[phone]
Scott McGregor, Chief Executive Officer
Joe Worthington, Investor & Media Relations
Cenkos Securities plc	[phone]
Nick Tulloch	[phone]
Derrick Lee
Celicourt (Financial PR) Mark Antelme Joanna Boon Jimmy Lea	[phone]

Notes to Editors

About redT energy

redT energy develops and supplies durable and robust energy storage machines based on proprietary vanadium redox flow technology for on and off-grid applications. The liquid storage medium affords an exceptionally long life of up to 25,000 full charge/discharge cycles and a 100 per cent usable depth of discharge. Combined with low maintenance requirements, this delivers industry leading lowest 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 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 storage machine 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 an energy storage machine 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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