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Sale of 1MWh hybrid system in Australia
Sale of 1MWh hybrid system in Australia.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n \nRNS Number : 4841S RedT Energy PLC 03 October 2017 \n\nThis announcement contains inside information\n \n3 October 2017\nredT energy plc\n \n(\"redT\" or the \"Company\")\n \nSale of 1MWh hybrid system as redT enters Australian market\nredT to supply first vanadium flow/lithium hybrid energy storage solution to Australia\n \nredT energy plc (AIM:RED), the energy storage technology company, is pleased to announce the sale of a 300kW 1MWh hybrid energy storage system for Monash University in Melbourne, Australia. This is the first time a vanadium flow / lithium hybrid energy storage system has been deployed in Australia and marks redT's entry into the burgeoning Australian market for energy storage which we currently estimate at between AUD $20-30bn, up to 2030.\n \nThe system, which comprises 900kWh of redT flow machines coupled with a 120kW C1-rated lithium battery, will be deployed as an active energy storage infrastructure asset at the University's new 11,400 m2 Biomedical Learning and Teaching building, which will house state-of-the-art biomedical research laboratories over 4 floors. Coupled with on-site solar PV assets, the system will be used to maximise the university's utilisation of renewable energy to significantly reduce energy costs for campus buildings. This will generate significant savings for the site and also open up potential new revenue streams, in the form of both contracted and merchant grid services in the future. The system will be used as a 'flexible platform' and will become part of the \"Monash Microgrid\", in partnership with Monash Energy Materials and Systems Institute (MEMSI). The project aims to integrate distributed renewables on Monash's campuses to increase reliability and stability within the local grid and in the future, allow for innovative, market based peer-to-peer energy trading.\n \nBy combining redT's vanadium flow machines with lithium batteries, the individual strengths of the two complementary technologies can be harnessed and provide a complete and financially robust energy storage solution. Whilst lithium batteries are able to deliver high power requirements, they can only be used for short periods and their usage must be carefully managed, due to their short life span. Flow machines, by comparison, address the weaknesses of Lithium batt...