15 Feb 2016 07:00
RNS
15 February 2016
redT energy plc
("redT" or the "Company")
Appointment of Director
The board of redT is pleased to announce the appointment of John Ward as Non-Executive Director of the Company, with immediate effect.
John Ward, aged 46, has over 13 years' experience as a director in the renewable energy sector. John is director and owner of three operational wind farms in Ireland. In each case, John designed, financed and developed/operates the facilities.
John has been an investor in the REDH business since December 2009, providing further funding on several occasions since then. Through his private investment vehicle (Alchemy Projects Limited), John is beneficially interested in 97,419,319 Ordinary Shares in the Company, respectively 21.1 per cent. of the issued share capital of the Company which were acquired as part of the roll-up of minority interests in REDH Ltd as announced on 30 September 2015.
Current directorships held by Mr Ward and directorships held by him in the last five years are as follows:
Current directorships: | Former directorships held in the last 5 years: |
Aeren Renewables Limited | Maxboley Wind Energy Limited |
Aerowest Wind Farm Limited | Rathyork Wind Energy Limited |
Alchemy Projects Limited | Tapbury Limited |
Altnagapple Wind Limited | The Irish Landscape Institute Limited |
Ardagh Wind Energy Limited | Vevila Limited |
Bartron Limited | |
Edenfinfreagh Wind Energy Limited | |
Fintown Hydro Limited | |
Garves Wind Limited | |
Helianthus Limited | |
Highland Wind Energy Limited | |
Ion Renewables Limited | |
Lackan Wind Energy Limited | |
Redwind Energy Limited | |
Renergy Limited | |
Renewable Energy Dynamic Holdings Limited | |
Renewable Energy Dynamics Technology Limited | |
Straboy Wind Energy Limited | |
Tangaveane Wind Energy Limited | |
Windy Meadow Holdings Limited |
There is no further information disclosable in respect of Mr Ward's appointment, pursuant to Schedule 2(g) of the AIM Rules for Companies.
Enquiries:
redT energy plc | +44 (0)207 121 6100 |
Scott McGregor, Chief Executive Officer | |
Jonathan Marren, Chief Financial Officer | |
finnCap Ltd (Nominated Adviser and Broker) | +44 (0)207 220 0500 |
Julian Blunt (Corporate Finance) | |
Tony Quirke (Corporate Broking) | |
Celicourt (Financial PR) Mark Antelme | +44 (0)20 7520 9266 |
About redT energy
redT energy develops and supplies durable and robust energy storage systems based on proprietary vanadium redox flow technology for on and off-grid applications. The liquid storage medium affords an exceptionally long life of over 10,000 full charge/discharge cycles and a 100 per cent. usable depth of discharge. Combined with low maintenance requirements this delivers industry leading 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 firm 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 system has applications in remote power, smart grids, power quality, and all aspects of renewable energy management.