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REDT signed a manufacturing agreement with Jabil Circuit, Inc. in June 2014. Since then the first key milestones have been achieved towards the anticipated delivery of first customer units in Q1 2015. The teams have been focussed on defining the first production optimised versions of the REDT storage systems and, importantly, the new production optimised design has resulted in an initial estimated 40% cost reduction and a 2/3 reduction in the physical size of the system. I think that suggests more than a concept again in the RNS 28th August 2014
"Costs and size had already come down just after Jabil joined." IN CONCEPT DESIGN, they then had to turn concept into actual product. Are you really saying that they should have turned a concept into reality, ignoring any improvements or faults they may come across just to get it out in time? Anyway I am ure I have posted to you about this before so sense a stirring the pot moment from yourself, rather than real agitation. This just out, answers your point far better than I can surmise and it's from the horse's mouth, https://www.brrmedia.com/event/140389/scott-mcgregor
As you say if they can't stick to timetables then don't issue them as they make themselves look very silly. Toom many aim companies make false statements if they can do it once they can do it again. They have sold off the carbon credits for the next couple of years therefore they will have little to no income coming in. Costs and size had already come down just after Jabil joined. Anyway no doubt another 6 months before we get info from them.
Graham, At that time design of the new products was still a concept, as the design turned to manufacture they have optimised the units as they go, this takes time and is a very important part of the manufacturing process. No point in rushing out poor product, this is a huge market and when they produce pilot units and start to take orders they need to be the best possible. They have also worked hard on decreasing the cost of units and this is really important as the cost base will determine their attractiveness to customers and ultimately the margin for the company. Now these things have been mentioned and yet you go back to an RNS from 2 months after the deal with Jabil was signed. I was happy they gave those timelines but actually in hindsight they should have not done so, as going from concept design to actual product on a production line takes lots of time and investment. Jabil's partnership has helped speed up design and keep costs down, their expertise will have helped reduce the size, the costs and increased the efficiency of the productline. Patience is required but we are now getting to the point that pilot units will be placed and orders will start to flow in, but be patient as this will take months not weeks or days. The next 6 months will be very important so if you can't wait that long, best not to invest in a manufacturer of a new product, going into a new market.
2015: o Q1 CE certification and electrical testing o Q1 deliver first customer production units 5-30kWh systems o Q2 install Gigha 1.26MWh system No explanation why all this went wrong. And they still havent installed Gigha.
Just realised I was beating up on the CCE guys early... LOL! Just checked my old post after Intersolar/ees Europe and they told me expect implementations in Q4 2015... Not September... Anyhow no excuses CCE Q4 is only 3 days away and we still need an update on progress please!
Agreed GW... When will any of the first systems be delivered?
Let's see if we get any meaningful update tomorrow when CEO & CFO are presenting the first 6 month results... It's well over 3 months since I caught up with REDT at Intersolar/ees Europe and back then I was told the first units would be being installed in September!!?? REDT really need to show field proven working commercial systems to get this ship out of dry dock and sailing...
I agree, now is an exciting time to be in new energy stocks, in fact my entire portfolio is in these emerging technologies. Whilst I understand it takes time to perfect the tec I just wish companies like CCE would set out a clear pathway and report against progress, even if this means reporting delays. I seem to recal that the REDT units for Gigha were orginally due to be shipped early this year, but from the latest update they're still been assembled at Jabil. You're having more luck with contacting them than I. Perhaps its a problem with my tablet. I keep getting the message 'invalid captcha'.
The silence is deafening! I've emailed REDT & Scott McGregor- nothing. Wish I'd never invested here seem the value fall by 50%. Lost too much to cut my losses & probably couldn't sell them due to quantity sadly held. FFS give us some positive trading news.
I agree always frustrating investing in technology companies. But, this is the most exciting time to be involved in sustainability companies. The world is crying out for energy storage and I suspect once proved REDT will be at the forefront for large scale installations. BTW, I have contacted the Company several times through their website and always obtained a quick response so maybe on the occasion you tried they had glitch. Listen to the latest Media presentation again, very plain speaking. Exciting times ahead I think, but no idea when.
Surely somethings got to happen soon. This is turning out to be the most dull investment I've ever made. tried contacting the company through their website but it doesn't work and they don't give any direct email addresses. Worring if the ompany can't even keep their website working how do they expect to get enquires about their products.
Still no news on Gigha.
19-Aug-1513:59:095.95 436,747Buy* 25.99k
Cats out of the bag.... REDT is needed to make renewables work now the subsidies are drying up in Europe yet where the sun shines they need storage to keep the lights on at night. African opportunity is vast!
I was hoping that the US news would have a better impact on my green energy shares, oh well........ it a waiting game.
Looks set for major growth: http://www.bbc.co.uk/news/world-us-canada-33753067
I take it hasn't been installed yet?
Looks like everyone has gone on holiday
Hi just like in South Africa with load shedding could we help in the UK ? http://www.bbc.co.uk/news/business-33527967
Doh - reputational not repetitional!