RedT Energy PLC Energy Storage Rating Report
December 05 2017 - 2:01AM
RNS Non-Regulatory
TIDMRED
RedT Energy PLC
05 December 2017
5 December 2017
redT energy plc
("redT" or the "Company")
Welcomes National Grid's energy storage duration storage report
rating
redT energy plc (AIM:RED), the energy storage technology
company, welcomes the energy storage rating report issued by
National Grid (LSE:NG) on 4 December 2017. In particular, the
metrics used to define duration-limited storage in the upcoming UK
Capacity Market auctions rate energy storage machines the highest
at 96.11%.
redT's vanadium redox flow machines store energy for over 4
hours and therefore, achieve National Grid's full rating. This
makes the Company's flow machines comparable with pumped hydro
storage. The report's lowest rating of 17.89% goes to batteries
that can only store energy for 30 minutes, effectively de-rating
short-term storage technologies, such as Lithium, in the upcoming
auction mechanism.
redT's storage machines are flexible platforms which offer a
full suite of services to the UK grid, such as time shifting solar
generation, Frequency Response, Short Term Operating Reserve
(STOR), and participating in the Capacity Market and Demand Turn
Up. The Company's solutions give customers greater flexibility
control over when and how they deploy their stored energy and
flexibility which hedges investment in the ever changing energy
sector.
redT is pleased to have already connected the largest operating,
containerised vanadium redox flow machine system in the UK to the
grid at The Olde House agri-business in Cornwall. This 1MWh project
is able to provide grid services at full rating, time shift
renewable energy and provide trading services to the customer.
Scott McGregor, CEO, commented:
"We welcome today's report and believe this is a positive step
forward for the UK's energy storage industry, as it shows there is
a growing need for more flexible storage options, such as our
patented liquid energy storage machines. We are proud to be the
first Company to have deployed a fully flexible storage platform in
the UK, which provides the full range of grid services and is
potentially saving the customer up to 50% on grid imports during
peak times. The UK market is a key of focus for us, as energy
storage has become economic and we are now able to deliver
attractive returns for our customers."
Enquiries:
redT energy plc +44 (0)207 061 6233
Scott McGregor, Chief Executive
Officer
Joe Worthington, Investor
& Media Relations
Cenkos Securities (Nominated
Advisor & Broker) +44 (0)131 220 9100
Derrick Lee
VSA Capital (Investor Relations
Advisor)
Andrew Monk +44 (0)203 005 5000
Celicourt Communications
(Financial PR)
Mark Antelme
Jimmy Lea
Ollie Mills +44 (0)20 7520 9266
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 enquiries@redtenergy.com or
call +44 (0) 207 061 6233
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRAFSSEFLFWSESE
(END) Dow Jones Newswires
December 05, 2017 02:01 ET (07:01 GMT)
Camco Clean (LSE:CCE)
Historical Stock Chart
From Jul 2024 to Aug 2024
Camco Clean (LSE:CCE)
Historical Stock Chart
From Aug 2023 to Aug 2024