redT to develop hybrid energy storage system

RNS Number : 1310J

RedT Energy PLC

07 September 2016

 

7 September 2016

redT energy plc

("redT" or the "Company")

redT partners with Newcastle University to develop hybrid energy storage system

redT energy plc, the energy storage technology company, is pleased to be working with Newcastle University in a Knowledge Transfer Partnership ("KTP") to research and develop the first ever hybrid energy storage system. The project has received £149,062 funding from Innovate UK partners; Engineering & Physical Sciences Research Council and the Scottish Funding Council.

The aim of the three year project which starts this month, is to develop a hybrid energy storage  system that enables a redT flow energy storage machine, typically used for long duration, energy intensive, industrial applications, to be operated alongside a short duration, power intensive, energy storage technology such as lead acid, lithium battery or super capacitator.  By combining different technologies, the hybrid system can utilise the individual energy and power strengths of these complimentary technologies and offer a full range of energy storage systems to serve the entire market. There is currently no model which offers a combination of technologies to the market in one system.

The KTP with Newcastle University also serves as a transfer of knowledge from academia to industry, utilising the resources of both parties through a mutually beneficial relationship. This will help deliver a high performance, low cost system to the market, whilst also developing a greater understanding of the technology through the research focus.

Scott McGregor, CEO, redT energy commented:

"We are very pleased to have received funding for the project and to be working alongside Newcastle University. Finding the right partner was critical to the success of the project and the team from Newcastle University provides us access to experts in electronic control systems for energy storage.

"Hybridisation holds a promising future for energy storage, and an area which requires research in order to identify the best power intensive technologies to work with vanadium energy storage machines, particularly to optimise the electrical control management of these complementary technologies to deliver a hybrid commercial storage system.  

"redT's energy storage machines, which don't degrade, are the lowest cost energy storage suitable for commercial and industrial energy intensive applications which require daily storage of energy for long durations.  Conventional batteries, which degrade quickly if used in this manner, are power intensive and can then be used for short term high power demands to prolong their life. 

"In a hybrid system, optimising the best and lowest cost technology solution, a redT energy storage machine will perform 70-80% of a customer's requirements for energy storage and a conventional battery the remaining 20-30% of power intensive services."

Dr Haris Patsios from Newcastle University said:

"We are looking forward to working with redT on the project. We recognise that in order to provide the most efficient energy storage solution, we need to be flexible and combine the various technologies that are best suited for different applications. By creating a model that facilitates this we will be providing the first ever hybrid energy storage system based on Vanadium Redox Flow machines to the market."

Enquiries:

redT energy plc	[phone]
Scott McGregor, Chief Executive Officer
Joe Worthington, Investor & Media Relations
finnCap Ltd (Nominated Adviser and Broker)	[phone]
Julian Blunt (Corporate Finance)
Tony Quirke (Corporate Broking)
Celicourt (Financial PR) Mark Antelme Joanna Boon	[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 over 10,000 full charge/discharge cycles and a 100 per cent. usable depth of discharge. Combined with low maintenance requirements, this delivers industry leading 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 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 a distributed energy network optimising conventional and renewable generation. The redT energy system 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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