Business
redT selected for large-scale tidal project
redT selected for large-scale tidal project.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n \nRNS Number : 2120I RedT Energy PLC 20 March 2018 \n\nThis announcement contains inside information\n \n20 March 2018\nredT energy plc\n \n(\"redT\" or the \"Company\")\n \nredT selected as storage technology partner for large-scale tidal project\n \nredT energy plc (AIM:RED), the energy storage solutions company, is pleased to announce that it has been selected by a consortium of European companies to be the primary energy storage technology provider for a large scale tidal generation project in the UK.\n \nThe project, for which a 0.6MW, 3MWh redT flow machine system has been selected, remains subject to finance and formal contract awards. The EU project will demonstrate the technical and financial feasibility of using tidal energy plus energy storage to provide reliable, renewable baseload energy. redT will contribute research, analysis and optimisation of tidal and flow machine technology to provide base load power.\n \nTidal generation is cyclical, depending on the moon's position and phase, with two high and two low tides occurring each day. The third hour of each tidal flow offers the highest power, occurring approximately every 6 hours. Given the nature of the application, a heavy cycling, non-degrading energy storage asset such as redT's was favoured over less robust battery alternatives.\n \nThis is a key development for the Company and is an affirmation of the business case, created by redT's energy analysts, for the use of flow energy storage alongside tidal generation. Having proven the financial viability of solar coupled with storage, this achievement is a key signal that tidal power coupled energy storage projects are a suitable technology match.\n \nThis project is planned to be fulfilled by redT's 3rd Generation product, to be delivered in 2018. Large projects such as this demonstrate how flow machine technology can scale to address base load energy requirements. It is also consistent with redT's corporate strategy of expanding into large projects during 2019.\n \nScott McGregor, CEO, redT energy commented:\n \n\"Flow machine technology is ideal for heavy daily use alongside renewables. Our expert energy storage team has done a great job of revolutionising how to couple solar and energy storage in the UK to red...