Planning permission granted for Oxford 'Superhub'

RNS Number : 1953G

RedT Energy PLC

22 July 2019

 

This announcement contains inside information

22 July 2019

redT energy plc

("redT" or the "Company")

Planning permission granted for Oxford 'Superhub' project

First UK grid-scale project for redT moves into next phase

Further to the RNS dated 3 April, redT energy plc (AIM:RED), the energy storage solutions company, is pleased to announce that planning permission has now been approved in respect of the Cowley substation site, the proposed location for the Energy Superhub Oxford project.

This development represents an important milestone which has now been achieved, allowing the project to move into the next phase.  

redT are 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 which will be connected at transmission level.

Neil O'Brien, Executive Chairman at redT said:

"With planning approval now in place, we're looking forward to moving to the next phase on the Energy Superhub Oxford project alongside our consortium partners. This is the first UK grid-scale project for redT and will be the largest deployment of vanadium redox flow technology in the UK to date."

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 / Cassie Herlihy
VSA Capital (Financial Adviser and 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. For more information, visit www.redTenergy.com

 For sales, press or investor enquiries, please contact the redT team on [phone].

 

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