Business
Sale of nine commercial energy storage units
Sale of nine commercial energy storage units.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n \nRNS Number : 6461W RedT Energy PLC 16 November 2017 \n\nThis announcement contains inside information\n \n16 November 2017\nredT energy plc\n \n(\"redT\" or the \"Company\")\n \nSale of nine commercial energy storage units in Asia\n \nredT energy plc (AIM:RED), the energy storage technology company, is pleased to announce the sale of nine redT tank units to a customer in South-East Asia. This commercial order marks redT's entry, via partners, into the high-growth Asian energy storage market.\n \nThe sale consists of four 30kW-150kWh energy storage machines in addition to a single 5kW-20kWh machine. In total, the sale is equivalent to nine redT modular tank units with a combined capacity of over 0.6MWh. \n \nThe machines will be used as flexible platform assets, connected to the local grid and performing a range of services.\n \nEnquiries:\n \n\n\n\n\nredT energy plc\n\n\n+44 (0)207 061 6233\n\n\n\n\nScott McGregor, Chief Executive Officer\n\n\n\n\n\n\n\nJoe Worthington, Investor & Media Relations\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCenkos Securities (Nominated Advisor & Broker)\n\n\n+44 (0)131 220 9100\n\n\n\n\nDerrick Lee\n\n\n\n\n\n\n\n \nVSA Capital (Investor Relations Advisor)\nAndrew Monk\n\n\n \n \n+44 (0)203 005 5000\n\n\n\n\n\n\n\n\n\n\n\n\nCelicourt Communications (Financial PR)\nMark Antelme \nJimmy Lea\nOllie Mills\n\n\n+44 (0)20 7520 9266\n\n\n\n\n\n\n\n\n\n\n\n\n \n \nNotes to Editors\n \nAbout redT energy\n \nredT 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.\n \nUntil 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 s...