RedT Energy PLC redT sign agreement with RNLI (9733D)

TIDMRED

RNS Number : 9733D

RedT Energy PLC

03 May 2017

03 May 2017

redT energy plc

("redT" or the "Company")

redT sign agreement with Royal National Lifeboat Institution

redT energy plc (AIM:RED), the energy storage technology company, is pleased to have signed an agreement with the Royal National Lifeboat Institution ("RNLI") for a 180 kWh unit for installation at the RNLI's Inshore Lifeboat Centre in East Cowes on the Isle of Wight. The site is used to manufacture and maintain the RNLI's fleet of inshore lifeboats.

The 180kWh energy storage machine will be used to time shift excess solar from the site's 100kWp PV panels, enabling them to offset the cost of locally purchased electricity and providing additional energy security for their facility. The unit will also enable the RNLI to generate revenue by selling electricity back to the local grid. At present a significant proportion of the solar photo-voltaic energy generated is used for building and maintaining the lifeboats, whilst also exporting up to 15kW when generation exceeds on-site demand. Due to this export constraint, there is some excess energy which cannot be used.

redT's energy storage machine will be used to capture this excess electricity and time-shift it for use for the manufacture and maintenance of RNLI craft. In the future, the RNLI will be able to build portions of boats using 100% solar energy, for example the hull curing ovens can be completely powered by solar power. The machine will also act as a backup generator allowing critical operations to continue in the event of a mains power outage, so removing the need for a diesel backup generator.

Following on from redT's previous announcement on 18(th) April 2017, this 180 kWh redT energy storage machine is the re-deployment of the seventh and final machine manufactured for the Isle of Gigha, a joint project undertaken by DECC (now BEIS), redT and The Gigha Community to remove constraints placed on the island's community wind farm.

Scott McGregor, CEO of redT commented:

"We are pleased to be starting a commercial relationship with one of the UK's best known and most respected charities and look forward to working with them to access the full potential for solar power at one of their 238 sites across the UK. Our energy storage machines are ideally suited to the long duration, energy intensive activity required to create "firm solar" for sites such as this and we look forward to demonstrating the ability of our technology to not only reduce energy costs, but provide access to new revenue streams for UK charities such as the RNLI."

Victoria Limbrick, RNLI Energy Manager said:

"We are pleased to be working with redT. Their energy storage system will allow us to achieve more value from the solar power we generate at our Inshore Lifeboat Centre. Not only will the system reduce our power costs it will also further reduce the fossil fuel energy used in producing our inshore lifeboats, which is important to increasing our overall sustainability."

Enquiries:

 
 redT energy plc                    [phone] 
 Scott McGregor, Chief Executive 
  Officer 
 Joe Worthington, Investor 
  & Media Relations 
 Cenkos Securities plc              [phone] 
 Nick Tulloch                       [phone] 
 Derrick Lee 
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  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]

About Royal National Lifeboat Institution

The RNLI save lives by providing a 24-hour lifeboat search and rescue service, seasonal lifeguards, water safety education and initiatives, and flood rescue response. Working together with partners and communities, the RNLI aims to educate, influence, supervise and rescue those at risk from drowning. Since its foundation in 1824, the RNLI's brave lifeboat crews and lifeguards have saved over 140,000 lives. The organisation currently operates from 238 lifeboat stations around the UK and Ireland.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 03, 2017 02:00 ET (06:00 GMT)