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RedT losses widen 'in line with management expectations'

Thu, 13th Sep 2018 08:55

(Sharecast News) - RedT Energy saw losses widen in the six months leading to 30 June as the industrial energy storage outfit completed most of its scaling up for growth.Despite seeing revenues from continuing operations jump 33% to £1.2m, RedT turned in a trading loss of £5.4m from the first half of its trading year - a widening of 92% year-on-year.Investment was made as the AIM-listed group scaled up for growth during the half, with functional teams and key facilities now substantially in place to commence manufacturing of its third-generation energy storage flow machine, which was launched commercially in June.A fundraising raised £3.85m, however, the group's free cash also tightened 40% throughout the period to £3.9m.RedT chief executive Scott McGregor, said the interim financials were "in line with management expectations". He added: "RedT has validated its commercial and grid-scale energy storage solutions with the recent deals in Germany and with Anglian Water and the UK public sector confirming the suitability of redT's technology for both 'mega-projects' at grid level and as a long-term infrastructure solution for the commercial and industrial sector."As of 0900 BST, RedT shares had dropped 7.88% to 8.48p.
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11 Sep 2018 09:19

RedT Energy Selected As Preferred Energy Storage Supplier For NHS

LONDON (Alliance News) - RedT Energy PLC said Tuesday it has been selected a preferred supplier for energy storage solutions for the National Health Service and other public sector operators in at

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11 Sep 2018 08:52

RedT Energy wins place on Essentia's battery storage framework

(Sharecast News) - RedT Energy has been awarded a place on Essentia's battery storage framework to supply energy storage solutions to the NHS and other UK public sector sites.

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20 Aug 2018 10:21

WINNERS & LOSERS SUMMARY: House Of Fraser Woes To Hit Mulberry Profit

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - WINNERS----------NMC up 5.4%. a

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26 Jul 2018 11:24

redT Energy Shares Jump With Exclusive German Energy Storage Contract

LONDON (Alliance News) - Shares in redT Energy PLC climbed on Thursday as it signed an exclusivity agreement with German energy development company Energy System Management GmbH for the delivery a

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20 Jul 2018 15:51

UK Shareholder Meetings Calendar - Next 7 Days

Monday 23 JulyEthernity NetworksActive Energy GroupBSD CrownTuesday 24 Air 25

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17 May 2018 11:42

redT Energy Falls As Annual Loss Widens In Year Of Expansion

LONDON (Alliance News) - Energy storage firm redT Energy PLC's shares fell on Thursday as the company reported a wider loss for 2017 as it expanded operations despite revenue were down 6.7% on

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19 Mar 2018 10:06

RedT Energy Finalises Design For Third-Generation Storage Machines

LONDON (Alliance News) - Energy storage solutions firm RedT Energy PLC said Monday it has finalised the design of its third-generation liquid energy storage machines, which to

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14 Mar 2018 12:54

redT energy Appoints New CFO, COO In Executive Team Shake-Up

LONDON (Alliance News) - Energy storage solutions firm redT energy PLC announced Wednesday a number of senior executive changes, including a new chief financial officer and as

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7 Sep 2016 07:57

RedT To Develop Hybrid Energy Storage System With Newcastle University

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16 Aug 2016 15:03

UK Shareholder Meetings Calendar - Next 7 Days

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13 Jun 2016 09:36

Bushveld To Investigate Energy Storage Opportunities In South Africa

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13 Jun 2016 08:10

RedT Says First Energy Storage Systems Arrive In South Africa

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6 Jun 2016 06:38

RedT Says First Energy Storage Systems Arrive At Customer Project

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11 May 2016 08:53

E.ON Trialling Energy Storage For Customers Using RedT Batteries

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