Redt Energy New Contract in Ireland

RNS Number : 6144E

Camco Clean Energy PLC

05 November 2015

 



5 November 2015

Camco Clean Energy plc

("Camco" or "the Company")

RedT Energy contracts with Udaras Na Gaeltachta in Ireland to implement an RedT vanadium energy storage system to support a renewable building with solar PV generation

RedT Energy (Camco's energy storage business) is pleased to announce its latest order to deliver a 5-40kWh energy storage system to a building housing an 11kW renewable photovoltaic ("PV") application at Aughleam Enterprise Centre, County Mayo, Ireland. The RedT storage system will enable PV renewable power generation to reach its full potential, significantly increasing the consumption of self-generated renewable energy by the Enterprise Centre.

A key challenge for renewable energy generation, particularly building integrated PV, is that power generation is not consistent with peak consumption demands throughout the day, making it difficult to match supply with demand. The location of the RedT system at the Enterprise Centre will demonstrate that, by using RedT's vanadium energy storage system, the business can maximise self-consumption of its local PV generation, resulting in significant economic benefits of power usage.

The RedT system is very durable with limited degradation over its system lifetime. Coupling storage with PV requires energy storage technologies that can handle a long charge cycle throughout the day and a long discharge cycle during the night. This process often leads to rapid degradation if using conventional storage technologies such as lead and lithium, however RedT's energy storage system can efficiently support these long full discharge cycles without degradation.

The facility for the installation project is located at Aughleam, on the outskirts of Belmullet, Co Mayo. This area is becoming a national hub of wave energy research, and this new project will further enhance the area as a centre of renewable energy demonstration excellence.

The small business/retail price for power in Ireland is about €0.16 per kWh and combining PV and storage is providing a viable alternative model for businesses to achieve a high degree of electrical energy autonomy. RedT estimates that the size of the market for storing PV generation associated with building development is in excess of 3 GWh in the UK and Ireland.

Scott McGregor, CEO of Camco said,

"Our strategy for 2015 is to close orders for market seeding units and place these into key application markets which have strong demand for storage. 

The Udaras 40kWh order is our fifth market seeding unit to be announced focussed on the building PV sector. This project will demonstrate that commercial buildings can become largely energy self-sufficient with renewable generation technologies and energy storage. Our vision has always been to enable the decarbonisation of the electrical network with energy storage. We are proud to be associated with this project as it demonstrates the opportunity that exists to build a self-reliant, robust, and entirely renewable power system with indigenous energy resources.

Prior market seeding announcements have included; Gigha 1.68MWh system for a Scottish wind utility application, Thaba hotel 240kWh for an African diesel weak grid application and Green Acorn 40kWh for a UK PV dairy farm application as well as the RedT system which has recently been delivered to our Wokingham development centre."  

Enquiries

Camco Clean Energy plc	[phone]
Scott McGregor, Chief Executive Officer
Jonathan Marren, Chief Financial Officer
finnCap Ltd	[phone]
Julian Blunt (Corporate Finance)
Tony Quirke (Corporate Broking)
Newgate	[phone]
Tim Thompson
Helena Bogle
Ed Treadwell

About Camco Clean Energy

Camco Clean Energy plc (AIM: CCE) is a clean energy development company which combines technical and commercial expertise to finance, develop, and operate renewable energy projects and storage technology.

With 25 years of experience and an outstanding track record throughout Asia, North America, Africa and Europe, Camco works with local developers, governments, development banks, and private investors to implement clean energy projects, policies, and technologies and reduce emissions.

Over the past year, Camco has brought an advanced energy storage technology to market (RedT energy), secured an investment advisory fund mandate for African renewables, and has developed utility scale biogas plants in the US.

* Camco Clean Energy plc, on a fully diluted basis, has an economic interest of 97.1% in RedT.

About RedT energy

RedT has developed a new and proprietary energy storage technology that enables the efficient and sustainable storage of electrical energy in liquid form.  The multi-valent properties of the Vanadium Redox electrolyte are used to provide a storage medium of virtually unlimited life with a system able to last more than 10,000 deep charge/discharge cycles. Combined with its very low maintenance requirements, the RedT systems are able to deliver some of the lowest Total Cost of Ownership (TCO) results in the industry. Long discharge durations are achieved by the simple addition of extra electrolyte capacity at a relatively low marginal cost.

Up until now it has not been possible to directly compare variable RE generation 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 the complete displacement of conventional fossil fuel power with renewable generation. The RedT system has applications in remote power, smart grids, power quality, and all aspects of renewable energy management.

About Udaras Na Gaeltachta - udaras.ie

Established in 1980, Údarás na Gaeltachta is the regional authority responsible for the economic, social and cultural development of the Gaeltacht. The overall objective of Údarás na Gaeltachta is to ensure that Irish remains the main communal language of the Gaeltacht and is passed on to future generations.

The Authority endeavors to achieve that objective by funding and fostering a wide range of enterprise development and job creation initiatives and by supporting strategic language, cultural and community based activities.

This project is one of a number of demonstration projects organised under the GREAT Project (Growing Renewable Energy Applications and Technologies) which aims to accelerate the deployment of Smart Grid (SG) in North West Europe. The focus of the Project is on the provision of information to Regulatory Authorities on technological development, encouraging small to medium sized enterprises (SMEs) and communities to develop technological solutions in relation to SG, renewable energy (RE) and distributive generation (DG).  

 

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