RedT Energy PLC redT sign agreement with RNLI (9733D)
May 03 2017 - 2:00AM
UK Regulatory
TIDMRED
RNS Number : 9733D
RedT Energy PLC
03 May 2017
03 May 2017
redT energy plc
("redT" or the "Company")
redT sign agreement with Royal National Lifeboat Institution
redT energy plc (AIM:RED), the energy storage technology
company, is pleased to have signed an agreement with the Royal
National Lifeboat Institution ("RNLI") for a 180 kWh unit for
installation at the RNLI's Inshore Lifeboat Centre in East Cowes on
the Isle of Wight. The site is used to manufacture and maintain the
RNLI's fleet of inshore lifeboats.
The 180kWh energy storage machine will be used to time shift
excess solar from the site's 100kWp PV panels, enabling them to
offset the cost of locally purchased electricity and providing
additional energy security for their facility. The unit will also
enable the RNLI to generate revenue by selling electricity back to
the local grid. At present a significant proportion of the solar
photo-voltaic energy generated is used for building and maintaining
the lifeboats, whilst also exporting up to 15kW when generation
exceeds on-site demand. Due to this export constraint, there is
some excess energy which cannot be used.
redT's energy storage machine will be used to capture this
excess electricity and time-shift it for use for the manufacture
and maintenance of RNLI craft. In the future, the RNLI will be able
to build portions of boats using 100% solar energy, for example the
hull curing ovens can be completely powered by solar power. The
machine will also act as a backup generator allowing critical
operations to continue in the event of a mains power outage, so
removing the need for a diesel backup generator.
Following on from redT's previous announcement on 18(th) April
2017, this 180 kWh redT energy storage machine is the re-deployment
of the seventh and final machine manufactured for the Isle of
Gigha, a joint project undertaken by DECC (now BEIS), redT and The
Gigha Community to remove constraints placed on the island's
community wind farm.
Scott McGregor, CEO of redT commented:
"We are pleased to be starting a commercial relationship with
one of the UK's best known and most respected charities and look
forward to working with them to access the full potential for solar
power at one of their 238 sites across the UK. Our energy storage
machines are ideally suited to the long duration, energy intensive
activity required to create "firm solar" for sites such as this and
we look forward to demonstrating the ability of our technology to
not only reduce energy costs, but provide access to new revenue
streams for UK charities such as the RNLI."
Victoria Limbrick, RNLI Energy Manager said:
"We are pleased to be working with redT. Their energy storage
system will allow us to achieve more value from the solar power we
generate at our Inshore Lifeboat Centre. Not only will the system
reduce our power costs it will also further reduce the fossil fuel
energy used in producing our inshore lifeboats, which is important
to increasing our overall sustainability."
Enquiries:
redT energy plc +44 (0)207 121 6100
Scott McGregor, Chief Executive
Officer
Joe Worthington, Investor
& Media Relations
Cenkos Securities plc +44 131 220 9772
Nick Tulloch +44 131 220 9100
Derrick Lee
Celicourt (Financial PR)
Mark Antelme
Joanna Boon
Jimmy Lea +44 (0)20 7520 9266
Notes to Editors
About redT energy
redT energy develops and supplies durable and robust energy
storage machines based on proprietary vanadium redox flow
technology for on and off-grid applications. The liquid storage
medium affords an exceptionally long life of up to 25,000 full
charge/discharge cycles and a 100 per cent usable depth of
discharge. Combined with low maintenance requirements, this
delivers industry leading lowest 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 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 storage
machine has applications in remote power, smart grids, power
quality, and all aspects of renewable energy management.
To find out more about redT products or to register your
interest in purchasing an energy storage machine please go to the
below web address:
http://www.redtenergy.com/register-interest
For sales enquiries, please email enquiries@redtenergy.com or
call +44 (0) 207 061 6233
About Royal National Lifeboat Institution
The RNLI save lives by providing a 24-hour lifeboat search and
rescue service, seasonal lifeguards, water safety education and
initiatives, and flood rescue response. Working together with
partners and communities, the RNLI aims to educate, influence,
supervise and rescue those at risk from drowning. Since its
foundation in 1824, the RNLI's brave lifeboat crews and lifeguards
have saved over 140,000 lives. The organisation currently operates
from 238 lifeboat stations around the UK and Ireland.
This information is provided by RNS
The company news service from the London Stock Exchange
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