RedT Energy PLC redT Gen 2 unit sale (4362O)

TIDMRED

RNS Number : 4362O

RedT Energy PLC

07 November 2016

redT energy plc

("redT" or the "Company")

redT Gen 2 unit sale into key African volume channel market

Milestone sale confirmed for redT Gen 2 energy storage machine

redT energy plc (AIM:RED), the energy storage technology company, is pleased to announce the sale of a Gen 2 energy storage machine to Jabil Inala, a South African energy solutions provider and systems integrator, operating across sub-Saharan Africa.

The 5kW, 30kWh redT energy storage machine will be provided by Jabil Inala to one of Africa's largest telecoms companies. The machine will be used to bridge power supply interruptions on the local grid in order to maintain uninterrupted operations at a telecom base station in South Africa.

This sale is a crucial development for the Company and represents an important step into a key market for volume sales. According to GSMA (Groupe Speciale Mobile Association) research, sub-Saharan Africa has over 240,000 telecom towers providing mobile coverage to 70% of the population. This figure is expected to grow to over 325,000 towers by 2020, with the majority of sites situated in either off-grid or weak-grid locations.

There is consequently a large market opportunity around the displacement of diesel generators in the African telecoms market, where fuel and associated costs to operators can be as high as 40% of total network operating cost. Off-grid telecom sites consume nearly 13,000 litres of diesel every year, at an average energy opex of over $21,000 per site. In addition to this, the widespread theft of diesel and conventional, disposable batteries adds significant cost for telecoms operators in the region.

redT's energy storage machines are well suited to this application due to their low maintenance requirements and ability to perform 100% depth of discharge cycles on a daily basis without significant degradation. The industrial nature and specific purpose design of these energy storage machines ensures they are not a target for theft.

Scott McGregor, CEO of redT said,

"We are delighted to announce this milestone sale to the market. This opportunity to provide our energy storage machine to one of Africa's largest telecoms companies, in one of the largest channel markets is a great start to our Gen 2 sales program. Commercially viable, durable energy storage solutions are now being sought to displace costly diesel generation and disposable conventional batteries in weak and off-grid applications. We look forward to continuing our work across the continent and updating the market on further sales of our Gen 2 units."

Enquiries:

 
 redT energy plc                    [phone] 
 Scott McGregor, Chief Executive 
  Officer 
 Joe Worthington, Investor 
  & Media Relations 
 
 Cenkos Securities plc 
 Nick Tulloch                       [phone] 
 Derrick Lee                        [phone] 
 
 Celicourt (Financial PR) 
  Mark Antelme 
  Joanna Boon 
  Jimmy Lea                         [phone] 
 
 

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 [e-mail] or call [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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November 07, 2016 02:00 ET (07:00 GMT)