Key unit sales in sub-Saharan Africa

RNS Number : 6348R

RedT Energy PLC

25 September 2017

 

This announcement contains inside information

25 September 2017

redT energy plc

("redT" or the "Company")

redT makes key unit sales in sub-Saharan Africa

14 units sold for use in Botswana communications infrastructure

redT energy plc (AIM:RED), the energy storage technology company, announces the sale of fourteen units into sub-Saharan Africa, a key growth market for the Company.

Fourteen of redT's 40kWh modules have been purchased by the Botswana-based customer, who will use the machines to provide energy security at critical communications infrastructure sites across the country. All fourteen sites are in remote locations with no grid connection and will use 11kWp of solar panels per site as the sole form of generation. redT's units will be used to store a proportion of the solar energy generated during daylight hours for use during the evening. This process is known as 'timeshifting' and effectively creates 'firm' 24h solar power, which is cheaper per kWh of energy than running a diesel generator off-grid.

redT's technology was chosen for the project owing to the machines' long service life, low maintenance requirements and the product's ability to operate at challenging sites such as these, where conventional lead-acid and lithium batteries have been used before and have experienced critical failure. redT, which has an office in South Africa, has already deployed a number of units in sub-Saharan Africa and views the  region as a key future growth market for their products.

Scott McGregor, CEO, commented:

"This represents a sizable commercial order for redT after deploying our initial units in South Africa.  Low cost secure energy, achieved by combining solar with a redT energy storage machine is key to bringing reliable power to Africa where 700 million people don't have access to grid electricity. We look forward to continuing  to deliver secure energy to the African market".

Enquiries:

redT energy plc	[phone]
Scott McGregor, Chief Executive Officer
Joe Worthington, Investor & Media Relations
Cenkos Securities plc	[phone]
Nick Tulloch
Derrick Lee
Celicourt (Financial PR) Mark Antelme Joanna Boon Jimmy Lea	[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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