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RCS - RedT Energy PLC - redT qualifies for UK frequency response service

Fri 26th July, 2019 7:00am
RNS Number : 7854G
RedT Energy PLC
26 July 2019
 

This announcement contains inside information

 

26 July 2019

redT energy plc

 

("redT" or the "Company")

 

redT flow machine first to qualify for UK Frequency Response service

redT passes testing for National Grid's dynamic FFR service, first for vanadium redox flow technology

 

redT energy plc (AIM:RED), the energy storage solutions company, is pleased to announce that one of its 300kWh flow machines, situated at a customer site in Southern England, has successfully gained pre-qualification status to provide Dynamic Firm Frequency Response (FFR) services to the UK grid following testing conducted by leading UK aggregator, Open Energi.

 

Dynamic FFR is a balancing service procured by the UK's National Grid, designed to keep grid frequency close to 50Hz. It is one of the most valuable balancing services available in the UK market today, requiring assets to respond within 2 seconds and sustain the response for up to 30 mins (although typically this requirement is much shorter).

 

The service plays a vital role in balancing out frequency volatility on the UK network caused by plant outages and other destabilising events. Until now, frequency services have been mainly supplied by conventional lithium-ion batteries, pumped hydro and demand-side response (DSR) mechanisms. This achievement by redT is the first time that heavy-cycling, redox flow machines have qualified for this market.

 

Situated at an industrial site in Dorset and coupled with 250kWp of solar panels, redT's customer benefits from the heavy-cycling, non-degrading characteristics of flow machines by 'stacking' multiple activities together, maximising returns on the project.

 

For instance, the site stores large amounts of excess solar power generated during the day for use at other times when grid prices are more expensive. This allows the site to reduce its exposure to peak electricity prices and offset a proportion of its carbon footprint, by more fully utilising its own solar generation. The site can also buy energy directly from the wholesale market at low prices, which generates further savings.

 

In addition to this, the site can also now earn revenue by providing a full suite of ancillary services (including, but not limited to dynamic FFR) via Open Energi's Dynamic Demand 2.0 aggregation platform.

  

Neil O'Brien, Executive Chairman at redT said:

 

"This is a key achievement which highlights the suitability of flow machines to provide a full range of services for the UK market. The flexibility and heavy-cycling nature of our technology will play an important role in the low carbon energy network of the future, reducing system balancing costs whilst providing real benefit to our customers at a distributed level."

 

 Enquiries:

 

redT energy plc

+44 (0)20 7121 6111

Neil O'Brien, Executive Chairman


Joe Worthington, Investor & Media Relations




Investec Bank plc (Nominated Adviser and Broker)

+44 (0)20 7597 5970

Jeremy Ellis / Chris Sim / Cassie Herlihy

 


VSA Capital (Financial Adviser and Joint Broker)

Andrew Monk / Andrew Raca

+44 (0)20 3005 5000

 



Celicourt Communications (Financial PR)

Mark Antelme

Jimmy Lea

Ollie Mills

+44 (0) 20 8434 2754



 

Notes to Editors

 

About redT energy

 

redT energy plc are experts in energy storage, specialising in the design, manufacture, installation and operation of energy storage infrastructure which creates revenue alongside reliable, low-cost renewable generation for businesses, industry and electricity distribution networks. Using patented vanadium redox flow technology to store energy in liquid, redT's own energy storage machines can be run continually with no degradation: charging and discharging for over 25 years, matching the lifespan of renewable assets in on-grid, off-grid and weak-grid settings.

 

redT's energy storage solutions, developed over the past 15 years, address today's changing energy market by providing a flexible platform for time shifting surplus renewable power, securing electricity supplies and earning revenue through grid services. The company has customers in the UK, Europe, sub-Saharan Africa, Australia and Asia Pacific. For more information, visit www.redTenergy.com

 

 For sales, press or investor enquiries, please contact the redT team on +44 (0)207 061 6233.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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