20 Jun 2018 07:00
This announcement contains inside information
20 June 2018
redT energy plc
("redT" or the "Company")
Launch of Gen 3 energy storage machine
Orders now being taken for next generation product
redT energy plc (AIM:RED), the energy storage solutions company, today formally launched its third generation ("Gen 3") flow machine at eeS Europe in Munich, Europe's largest and most international exhibition for batteries and energy storage systems.
Featuring a new, proprietary system design, with multiple patents filed, this new product offers improved charge/discharge characteristics and increased efficiency within a more compact format. redT's Gen 3 machine has been specifically engineered as a high performance, distributed energy infrastructure asset. Designed to unlock low cost, renewable energy for commercial customers, utility scale grid projects and off-grid operations, the Company's Gen 3 offering utilises unique, technical functionality embedded in its design to achieve maximum performance and financial returns for customers.
redT's Gen 3 product achieves technical superiority within the energy storage industry and delivers best in class IP within the field of flow technology. These machines are optimised for industrial applications requiring 100kW to 2MW of power and 4 to 6 hours energy capacity. This makes the technology ideal for coupling with renewable assets including solar, wind and tidal to maximise customers' use of cheap renewable energy and reduce energy costs significantly.
The Gen 3 product also has specific designed functionality integrated within the system to enhance grid scale storage returns for energy trading and grid services whilst delivering a fully flexible asset for investors. When coupled with Lithium as a hybrid energy storage asset, it allows customers to protect Lithium batteries from degradation and extend their life. redT's grid storage solutions are for large, megawatt-scale projects for system sizes from 10MWh up to 50MWh.
The company is now taking orders for Q4 2018 delivery onwards.
Scott McGregor, CEO of redT said:
"I'm very pleased to announce the commercial launch of our new Gen 3 product in Munich today which delivers the best flow machine IP in existence. Our dedicated design team have worked diligently to embed advanced functionality into Gen 3 and they have delivered a technically superior product, purpose built to unlock more cheap renewable energy, generate enhanced returns for grid storage and save more money on energy costs.
redT's 20 years of expertise provides customers with energy storage designed business models to unlock more returns. Couple this with Gen 3 embedded technical functionality, and our customers benefit further by achieving even greater financial returns.
We've received significant pre-release demand for our Gen 3 units to date and we are very pleased to now launch Gen 3 publicly to the market."
Enquiries:
redT energy plc | +44 (0)20 7061 6233 |
Scott McGregor, Chief Executive Officer Fraser Welham, Chief Financial Officer | |
Joe Worthington, Investor & Media Relations | |
Investec Bank plc (Nominated Adviser and Broker) | +44 (0)20 7597 5970 |
Jeremy Ellis / Chris Sim / Alexander Ruffman
| |
VSA Capital (Joint Broker) Andrew Monk / Andrew Raca | +44 (0)20 3005 5000
|
Celicourt Communications (Financial PR) Mark Antelme Jimmy Lea Ollie Mills | +44 (0)20 7520 9266 |
Notes to Editors
About redT energy
redT energy plc are experts in energy storage, specialising in the design, manufacture, installation and operation of energy storage systems which create revenue alongside reliable, low-cost renewable generation for businesses, industry and electricity distribution networks. Using patented vanadium redox flow technology to store energy in liquid, redT's own energy storage machines can be run continually with no degradation: charging and discharging for over 25 years, matching the lifespan of renewable assets in on-grid, off-grid and weak-grid settings.
redT's energy storage solutions, developed over the past 15 years, address today's changing energy market by providing a flexible platform for time shifting surplus renewable power, securing electricity supplies and earning revenue through grid services. The company has operating machines deployed with customers in the UK, Europe, sub-Saharan Africa, Australia and Asia Pacific. redT energy plc is listed on the London Stock Exchange (AIM:RED) and has offices in the UK, Africa and the USA. For more information, visit www.redTenergy.com
For sales, press or investor enquiries, please contact the redT team on +44 (0)207 061 6233.