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Update from Bushveld!
“The proposed merger of two proven VRFB suppliers, Avalon and redT Energy is an exciting first investment opportunity for the platform. The interim funding provided by Bushveld will help advance their merger and the eventual creation of a stronger VRFB company.”
Slowly,slowly!
PC
https://m.londonstockexchange.com/exchange/mobile/news/detail/14298077.html
It’s going to be the question of short term gain against long term pain!
Lithium, agreed, is currently flavour of the month, but at some stage if used in the wrong scenario, parts of the Lithium systems come under strain and will need to be replaced.(not sure you’ll get 20 years plus at no additional costs)
Others, including RedT themselves, will be able to make suitable comparisons!
I’m also sure, when we get to providing a battery system that’s very close to a built up area, that the chances of a serious fire risk are greatly reduced using flow rather than lithium!
Still keeping my hopes up !
PC
This takes me back too my biggest concern yet which I am really trying to overcome:
It is cheaper to buy a long duration lithium ion battery than it is to buy a redt battery. I no longer see why anyone would ever choose RedT's product. I want them to succeed so I can recoup some money but I just don't see any scenario where it makes sense to buy a RedT battery over an alternative.
RedT's involvement in the Oxford hub is a joke. Pivot Power have been all talk about the possibility of 50 MW projects linked with EV charging.
They have been slow playing this one for some time. There have been (getting close to) a hundred +50 MW projects deployed around the world - nothing stopping them buying Chinese battery modules and deploying a unit instead of talking about it for the past 2 years at least.
Those hub projects take years
So EDF are buying Pivot Power!
We have a connection here!
Pivot is also involved in a number of either high-profile or cutting-edge storage developments in the UK, deploying a battery storage system at Arsenal’s Emirates Stadium before partnering with long-duration energy storage technology firm redT for a grid-connected battery hybrid said to be a world first.
PC
always look on the bright side!
https://www.solarpowerportal.co.uk/news/edf_buys_pivot_power_to_accelerate_battery_storage_move
I'd just like to say I felt completely ripped off . Yes I fell for it and it's my own fault but to send out that German rns to get suckers like me to add even more is pure evil. If this company raises it head again it had better have new management .Rant over.
Good news, but presumably heavy dilution for existing holders?
Loads of good news in the RNS.
"Bushveld has agreed to provide a convertible loan of up to US$5 million to Avalon (the "Interim Funding"), half of which will be loaned by Avalon to redT"
Interesting that the loan is to Avalon, anyone would think BMN didn't trust the RED BoD.
OldFool just be grateful that BMN not only brings its money and vanadium to the party, but also the one thing Red seemed to lack ... Excellent management.
Welcome to the **** ditch Bushveld fans
beat me to the punch-line Alfa ...
Welcome to the fold RedT. Just make sure you don't bring that plonker (who shall remain nameless) with you.
Extract
RedT Energy PLC Proposed merger and interim funding secured
Source: UK Regulatory (RNS & others)
TIDMRED
RNS Number : 9589R
RedT Energy PLC
01 November 2019
While we await “any” news, interesting to see we are still out there punting the message! ( Ed Porter, RedT) at recent show!
Panel discuss benefits of storage with solar most of which we have heard before, but for others may be of interest !
Main reason for the post is that we are still out and about in the world!
PC
https://m.youtube.com/watch?v=nP_Pn4sFp54
From what I heard there might be more than one interested party which could, I suppose, be a reason for a delay (if I'm being optimistic)
Is the Avalon merger talk a myth, or is an announcement still expected?
http://seriesq.com/
EMPOWERING LGBTQ PEOPLE AT STARTUPS
https://beta.companieshouse.gov.uk/company/11514488
Just curious as to what his new venture is he's just become another director of a company In Wimbledon called series qici? Wouldn't thought he would have time to run another company as a director what with all was going on here. I've been here for 3 years old fool, have a holding, so why should I not be entitled to an opinion or investigation into what alot of people believe has been illegal activity?
Am I going to reply on a BB with a suspended share? Well if you want to waste your time visiting a share where nothing can be done, fill your boots. Funny I never had you down as one of DLG's Avatars, but you have proved me wrong . Where do you get off spamming the Red threads?
And yes all crap as nothing can be done about the past. Give it up, move on get over it, Red are dead, ****ed up and we got ****ed over, so what.
https://beta.companieshouse.gov.uk/company/07640710/filing-history
Yes I see they have not filed this years reports with an alarming warning sign on there company page. A few new notifications on there page saying register inspection adress changed and register moved
The information on Companies House Sbuild? Redt is a Jersey registered company. Only their UK subsidiaries are required to report anything on Companies House, not that they have managed to report their 2018 results on time this year for the UK subsidiaries , so they will be fined £150 initially per company. Sloppy management or a further sign of problems?
Are you going to offer a reply or are you under news blackout too like everyone at RedT? Anyhow, the important point is this bit: "Unless additional funding is obtained by December, the Group would have no option but to cease trading. The immediate focus is on securing interim funding to complete the proposed Merger..." This was the same sort of begging point RedT made on March 14th about having to secure funding or else go bust. Well, they had that last fund-raise and have done diddly squat with the money in the last 7 months except pay themselves multiple 100s of £k. Does anyone expect anything anymore from this bunch? Only 11 months ago there was a game changing deal... All b/s and board remuneration. Seriously suspect company.
More to the point the legal proceedings I am looking into have advised I would have a very strong claim against the company and ceo for all the lies that have been peddled. The fca is just a dog with no teeth you will have to go your own way with it.