redT qualifies for UK frequency response service

RNS Number : 7854G

RedT Energy PLC

26 July 2019

 

This announcement contains inside information

26 July 2019

redT energy plc

("redT" or the "Company")

redT flow machine first to qualify for UK Frequency Response service

redT passes testing for National Grid's dynamic FFR service, first for vanadium redox flow technology

redT energy plc (AIM:RED), the energy storage solutions company, is pleased to announce that one of its 300kWh flow machines, situated at a customer site in Southern England, has successfully gained pre-qualification status to provide Dynamic Firm Frequency Response (FFR) services to the UK grid following testing conducted by leading UK aggregator, Open Energi.

Dynamic FFR is a balancing service procured by the UK's National Grid, designed to keep grid frequency close to 50Hz. It is one of the most valuable balancing services available in the UK market today, requiring assets to respond within 2 seconds and sustain the response for up to 30 mins (although typically this requirement is much shorter).

The service plays a vital role in balancing out frequency volatility on the UK network caused by plant outages and other destabilising events. Until now, frequency services have been mainly supplied by conventional lithium-ion batteries, pumped hydro and demand-side response (DSR) mechanisms. This achievement by redT is the first time that heavy-cycling, redox flow machines have qualified for this market.

Situated at an industrial site in Dorset and coupled with 250kWp of solar panels, redT's customer benefits from the heavy-cycling, non-degrading characteristics of flow machines by 'stacking' multiple activities together, maximising returns on the project.

For instance, the site stores large amounts of excess solar power generated during the day for use at other times when grid prices are more expensive. This allows the site to reduce its exposure to peak electricity prices and offset a proportion of its carbon footprint, by more fully utilising its own solar generation. The site can also buy energy directly from the wholesale market at low prices, which generates further savings.

In addition to this, the site can also now earn revenue by providing a full suite of ancillary services (including, but not limited to dynamic FFR) via Open Energi's Dynamic Demand 2.0 aggregation platform.

Neil O'Brien, Executive Chairman at redT said:

"This is a key achievement which highlights the suitability of flow machines to provide a full range of services for the UK market. The flexibility and heavy-cycling nature of our technology will play an important role in the low carbon energy network of the future, reducing system balancing costs whilst providing real benefit to our customers at a distributed level."

 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].

 

END

 

 

NRALLFIDDVIEFIA