RED-T COMMERCIALISING ENERGY STORAGE TECHNOLOGY FOR A NEW ERA

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Clontarf-headquartered RED-T is developing world-leading vanadium-based flow battery technology, which enables the cheap, efficient and sustainable storage of electrical energy in liquid form. RED-T's patented technology provides a scalable solution that stores and releases energy across a whole spectrum of applications, from renewable energy, electric vehicles and remote power applications to utility scale energy storage.

One of the biggest problems with renewable energy systems is the inability to store energy. RED-T's technology enables renewable energy operators to efficiently store the energy when it is available and release it to the grid when it is needed. For the first time ever, it provides the ability for an energy user to completely shift to renewable power sources.

RED-T's battery technology uses a single electrolyte, vanadium, allowing it to be fully recyclable and requiring minimal component replacement over time.

John Ward, CEO and co-founder of RED-T said:

"Batteries such as the lithium-ion battery seen in electric cars can charge/discharge around 1,500 times. After this, they degrade very quickly and then cannot be reused. They are also not great with partial charges."

Commenting on RED-T's technology, Ward said

"Effectively it does what no other battery does. It is completely reusable and has very long life, doing 12,000 full charge/discharge cycles."

AIB Seed Capital Fund led a €900k investment in RED-T in December 2011 along with co-investors Enterprise Ireland and CEO, John Ward.

Commenting on AIBSCF investment in RED-T, Alex Hobbs, Dublin BIC said:

"We are delighted to see Dublin BIC secure investment in a company like RED-T who are at the forefront of manufacturing energy storage technology for major international customers. This technology is of global importance for energy security, the move to renewable generation, and the creation of a low carbon economy. It is the missing enabling element that has eluded all industrialised nations in their commitment to creating a low carbon economy, and reducing emissions from power."

Following a 2-year development phase, the company is ready for the commercial launch of its first product, the 5kW battery stack platform. RED-T is also well advanced with research and development of its 25/50kW cell stack to address utility scale and large renewable generation applications. The company has approached the market through demonstrating a fully operational 5kW battery stack and allowing key customers to purchase pilot systems in late 2012. Significant orders have been placed for this product with early applications being focused in the telecommunications and small scale renewables sectors.

RED-T is looking to raise follow-on investment in late 2012 / early 2013 to establish a production plant in Ireland, to provide the working capital necessary to begin delivery of volume sales to its international client base and to fund ongoing research and development efforts to address further market applications.

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