redT wins Storage Business Model award

RNS Number : 6797E

RedT Energy PLC

22 October 2018

 

22 October 2018

redT energy plc

("redT" or the "Company")

redT wins Storage Business Model award

redT energy plc (AIM:RED), the energy storage solutions company, is pleased to announce that it has won the 2018 Solar Power Portal award for "Storage Business Model Innovation of the Year" in relation to its 1MWh project at The Olde House in Cornwall, UK.

A newly added category for 2018, the award is designed to recognize outstanding achievement in the development of innovative business models for energy storage. The independent judging panel considered innovation across the financing, revenue stacking, aggregation and unique technical applications adopted for a specific project, with nominations received from across the entire industry.

redT were shortlisted alongside aggregators Limejump and Flexitricity and leading renewable energy company Anesco. The award was announced at a gala dinner on 17^th October during the Solar & Storage Live 2018 event held in Birmingham, UK.

Scott McGregor, CEO of redT said:

"Our team has created innovative, low risk, infrastructure business models integrating solar and energy storage which bring significant benefits to UK businesses delivering up to 50% energy cost savings. 

This achievement underlines our expertise in developing long term, flexible and financially secure business models for energy storage infrastructure behind the meter both here in the UK and further afield and is testament to the high level of passion, experience and expertise of the investment modelling team we have assembled at redT.  

We are very honoured to have been chosen to receive this award, especially in light of the very high calibre of our fellow nominees."

Enquiries:

redT energy plc	[phone]
Scott McGregor, Chief Executive Officer Fraser Welham, Chief Financial Officer
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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