First UK grid project for redT

RNS Number : 8967U

RedT Energy PLC

03 April 2019

 

3 April 2019

redT energy plc

("redT" or the "Company")

Oxford 'Superhub' launch marks first UK grid-scale project for redT

Largest deployment of flow machines in UK to support EV charging network

Further to the announcement of a signed purchase agreement to supply 72 units for a large UK grid project on 14^th March, redT energy plc (AIM:RED), the energy storage solutions company, is pleased to provide an update on its role as part of a consortium of companies delivering an overall £41 million grid-scale project in Oxford, UK which will include 5MWh (72 units) of vanadium redox flow machines as part of a grid-connected 50MW Vanadium / Lithium-ion hybrid energy storage system.

The Energy Superhub Oxford ('ESO') project will showcase a cutting-edge electric vehicle charging network alongside the largest vanadium/lithium hybrid energy storage system ever to be deployed and low carbon heating and smart energy management technologies.

This project will represent the Company's first grid-scale, 'front of the meter' project. 5MWh of redT flow machines (72 units) will be hybridised with a 48MW, 50MWh lithium battery system and connected at transmission level to support a local EV charging network consisting of approximately 100 ultra-rapid and fast chargers. As flow machines can cycle heavily, multiple times each day, without degradation, they are well suited to use alongside lithium-ion batteries, which provide high power, but must be managed carefully to prolong their life. Together, flow machines and lithium batteries will operate as a hybrid system, making use of the relevant strengths of the two complementary technologies to balance the network and meet the complex demands of the ESO project.

The Energy Superhub Oxford project plans to locate the energy storage near Cowley substation, with the location subject to planning permission being gained, and is due for delivery across 2019 and 2020.

redT are a global leader in vanadium flow machines and innovators in the field of vanadium redox / lithium ion hybrid energy storage systems, having deployed the first system of its type at a site in Melbourne, Australia in November 2018. Once installed, the ESO hybrid energy storage system will be the largest deployed globally, with the flow machine element becoming the largest deployment of the technology in the UK to date.

The project consortium consists of Oxford City Council, Pivot Power, redT energy, Habitat Energy, Kensa Contracting and the University of Oxford.

To find out more about the project follow this link: https://redtenergy.com/eso-news-release/

Neil O'Brien, Executive Chairman at redT said:

"We're pleased to update our shareholders on the details of our first UK grid-scale project. This will be the largest deployment to date of our technology in the UK and a significant achievement for redT."

Enquiries:

redT energy plc	[phone]
Neil O'Brien, Executive Chairman
Joe Worthington, Investor & Media Relations
Investec Bank plc (Nominated Adviser and Broker)	[phone]
Jeremy Ellis / Chris Sim / Alexander Ruffman
VSA Capital (Joint Broker) Andrew Monk / Andrew Raca	[phone]
Celicourt Communications (Financial PR) Mark Antelme / Jimmy Lea / Ollie Mills	[phone]

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 [phone].

 

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