Invinity Energy Systems Plc

Management Reports • Jun 13, 2016

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 9154A

RedT Energy PLC

13 June 2016

13 June 2016

redT energy plc

("redT" or the "Company")

First redT energy storage systems arrive in Africa to satisfy new customer order

redT energy plc (AIM:RED), the energy storage technology company, is pleased to announce that two of its 5-40kWh energy storage systems have arrived at a customer's site in Johannesburg, South Africa. These units represent a first step into Africa for the Company and the ongoing progress of redT's market seeding programme, a strategy which involves placing 18 storage units into 12 key customer applications across different regions, all of which have strong demand potential for energy storage.

The units have been purchased by a South African renewable energy developer and will be connected to a 20kW solar array at a residential development in Alberton, Johannesburg South. The redT units will provide two primary services; time-shifting of excess PV energy captured during the day for use at night, and back-up power during scheduled and unscheduled grid outages. System commissioning will take place later in the year, in-line with property development schedules.

With weak grid infrastructure across the continent resulting in many businesses and individuals looking to safeguard their supply through the use of effective energy storage, this is the first time redT has shipped its patented energy storage systems to Africa, a region the Company sees as a key future market for energy storage. 

The applications for redT's technology in Africa are wide ranging, from working alongside grid-connected solar to coupling with diesel assets in off-grid applications within the mining, commercial or hospitality sectors, where units provide blackout support for essential industry during frequent grid outages.

South Africa's on-grid potential energy storage market is vast. Renewable generation of 5GW has now been approved and this figure is targeted to be 17GW by 2030. Energy storage can be coupled with renewables to provide secure power for on-grid applications, however providing firm renewable power is also vitally important for the sub Saharan African off-grid market, where the market opportunities are even larger. Over 645 million Africans currently have no access to energy, and the recent widespread adoption of solar has opened up a huge market opportunity for redT's robust, modular long-duration storage, which is an ideal solution to unlock firm renewable energy in off-grid markets.

This large residential development customer order is in addition to redT's other market seeding unit planned for the Thaba Eco hotel, announced 18 March 2015.  This project has been working through location planning approval with respect to the renewable power development, and as a result of this delay, a new redT GEN2 unit will be delivered to the site once planning approval is gained.

Scott McGregor, CEO of redT said,

"We are pleased to announce our first unit sales into Africa. This is a core growth area for the commercial sale of our energy storage systems and we believe redT's units will help the continent unlock the potential of its renewable energy sources to provide firm power, bringing increased energy security to Africa. 

"These two sales also form an important part of our continued market seeding strategy. These are the eighth and ninth market seeding applications and will provide us with valuable market information which will help drive product development."

Enquiries:

redT energy plc	+44 (0)207 121 6100
Scott McGregor, Chief Executive Officer
Joe Worthington, Investor & Media Relations
finnCap Ltd (Nominated Adviser and Broker)	+44 (0)207 220 0500
Julian Blunt (Corporate Finance)
Tony Quirke (Corporate Broking)
Celicourt (Financial PR) Mark Antelme Joanna Boon	+44 (0)20 7520 9266

About redT energy

redT energy develops and supplies durable and robust energy storage systems based on proprietary vanadium redox flow technology for on and off-grid applications. The liquid storage medium affords an exceptionally long life of over 10,000 full charge/discharge cycles and a 100 per cent. usable depth of discharge. Combined with low maintenance requirements, this delivers industry leading 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 firm 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 system 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 a unit please go to the below web address:

http://www.redtenergy.com/register-interest

For sales enquiries, please email [email protected] or call +44 (0) 207 061 6233

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEBLFFQQFBBBE