RedT Energy PLC Management Team Update and Board Changes (6296H)
March 14 2018 - 3:01AM
UK Regulatory
TIDMRED
RNS Number : 6296H
RedT Energy PLC
14 March 2018
This announcement contains inside information
14 March 2018
redT energy plc
("redT" or the "Company")
Management Team Update and Board Changes
redT energy plc (AIM:RED), the energy storage solutions company,
is pleased to announce the appointment of Fraser Welham to the
Board of the Company and to the role of Chief Financial Officer of
redT, with effect from 3(rd) April 2018. In addition, David Stewart
has been promoted to the role of Chief Operating Officer and
Jean-Louis Cols appointed as Technology Director.
Prior to joining redT, Fraser was a Managing Director, Finance
at The Green Investment Group, formerly the UK Green Investment
Bank, having previously spent five years as Group Finance Director
of Element Power, a private equity owned global, utility-scale,
solar and wind renewable energy developer. Before this, he spent 14
years at Shanks Group PLC a LSE-listed waste management company,
where he became Group Finance Director during the period in which
the company was in the FTSE 250. Fraser is an ICAEW Chartered
Accountant and holds a BSc (Eng) First Class Honours degree in
Mechanical Engineering from Kings College London.
Fraser brings a wealth of experience of project finance in the
renewable energy sector, which is core relevant experience that
will further enable redT's customers to embrace energy storage. He
also has significant experience managing City relationships, having
led the finance function at a FTSE 250 listed business.
David Stewart, who joined redT one year ago as Commercial
Director and was appointed to the Board of redT in April 2017, has
been promoted to the role of Chief Operating Officer. David was
formerly the Director for Strategic Investment at Jabil Circuit
Inc. (NYSE: JBL) and has extensive experience working with high
growth technology product businesses including Hewlett Packard.
Jean-Louis Cols joined redT at the start of this year in the
role of Technology Director and brings with him over 25 years
experience in Technology and Product Development, relevant to the
current stage of redT's growth. He has managed complex R&D and
product development teams in fuel cells and energy storage systems
for the last 5 years with Logan Energy and Intelligent Energy.
Prior to this, he led successful technology product launches in the
semiconductor, consumer electronics and aerospace industries with
companies such as Texas Instruments and Ericsson.
Scott Laird will be stepping down from the Board on 3(rd) April
2018 and as Finance Director on 30th April. During his 3-year
tenure, Scott implemented strong financial controls within redT's
business, oversaw the raising of institutional capital, ensured
full regulatory compliance, and built a quality finance team, all
of which has been crucial during the early stage growth of redT. He
has also provided valuable contributions to redT's management team
and as a member of the Board. Scott will ensure an orderly handover
of responsibilities to Fraser in due course.
Scott McGregor, CEO of redT said:
"I'm very excited to have assembled a management team of this
calibre at redT. The collective experience and knowledge base of
our executive team is first class and demonstrates our leading
position in the energy storage sector. This announcement shows our
ability to recruit best in class personnel and our determination to
utilise the best resources from other sectors to capture the market
opportunity in front of us.
I would also like to thank Scott Laird for his dedicated efforts
over the past three years. His hard work and commitment in
establishing the financial structure of the Company and ensuring
strict financial discipline during redT's early growth phase has
been an invaluable factor in the continued success of the company
and we wish him every success in his future endeavours."
Save for the information disclosed below, there are no further
disclosures to be made in accordance with Schedule Two paragraph
(g) of the AIM Rules for Companies in respect of Mr Welham.
Full name: Fraser Andrew Norton
Welham
---------------------------- -------------------------------
Age: 53
---------------------------- -------------------------------
Current Directorships F Welham Consulting Ltd
/ Partnerships:
---------------------------- -------------------------------
Former Directorships / Element Power Asset Management
Partnerships Limited
(within the last 5 years): Element Power Chile S.A.
Element Power Finland
Developments Oy
Element Power Ireland
Development Limited
Element Power Ireland
Finance Limited
Element Power Ireland
Limited
Element Power Ireland
Project Company Limited
Element Power Limited
Element Power Polska
SP. Z o.o
Element Power Sweden
AB
EPCL Element Power Cyprus
Limited
EPCL2 Element Power Cyprus
2 Limited
Greenwire Energy Limited
Greenwire Limited
Hudson Element Power
GP, LLC
lipuisto Oy
Monashee Windfarm Limited
Parque Eolico Arauco
S.A
RDS Element Power Limited
Tullymurdoch Limited
Otsotuuli Oy *
Element Power Cattiva
Holdings S.a.r.I
Element Power Hellas,
S.A.
Granskog Vindkraft AB
Julkuvaaran Tuulivoima
Oy
Korvennevan Tuulivoima
Oy
Mikonkeitaan Tuulivoima
Oy
Hiperion Energy, S.L.
Element Power G.P S.a.r.l
Element Power Holdings
B V.
Element Power Northern
Europe Developments Limited
* Alternate Director
Enquiries:
redT energy plc +44 (0)20 7061 6233
Scott McGregor, Chief Executive
Officer
Joe Worthington, Investor
& Media Relations
Cenkos Securities (Nominated
Advisor & Broker) +44 (0)131 220 9100
Derrick Lee
VSA Capital (Investor Relations
Advisor)
Andrew Monk +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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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