Sale of nine commercial energy storage units

RNS Number : 6461W

RedT Energy PLC

16 November 2017

 

This announcement contains inside information

16 November 2017

redT energy plc

("redT" or the "Company")

Sale of nine commercial energy storage units in Asia

redT energy plc (AIM:RED), the energy storage technology company, is pleased to announce the sale of nine redT tank units to a customer in South-East Asia. This commercial order marks redT's entry, via partners, into the high-growth Asian energy storage market.

The sale consists of four 30kW-150kWh energy storage machines in addition to a single 5kW-20kWh machine. In total, the sale is equivalent to nine redT modular tank units with a combined capacity of over 0.6MWh. 

The machines will be used as flexible platform assets, connected to the local grid and performing a range of services.

Enquiries:

redT energy plc	[phone]
Scott McGregor, Chief Executive Officer
Joe Worthington, Investor & Media Relations
Cenkos Securities (Nominated Advisor & Broker)	[phone]
Derrick Lee
VSA Capital (Investor Relations Advisor) Andrew Monk	[phone]
Celicourt Communications (Financial PR) Mark Antelme Jimmy Lea Ollie Mills	[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 up to 25,000 full charge/discharge cycles and a 100 per cent usable depth of discharge. Combined with low maintenance requirements, this delivers industry leading lowest 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 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 storage machine 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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