LONDON (Alliance News) - Camco Clean Energy PLC Thursday said four of its units designed to test and validate its energy storage system REDT are in place with a further eight units to be deployed before the end of 2015.
Camco is focused on the REDT energy storage business, a vanadium flow battery that is used to store energy in remote locations or for renewable energy. Major manufacturer Jabil Circuit Inc is constructing the batteries, and are currently focused on delivering the remaining eight testing units in 2015.
"The 2015 REDT production is focussed on delivering market seeding units to place at customer locations with a view to demonstrating REDT's vanadium energy storage systems for key market segment applications. These units will be placed across different geographies, customer segments and technical applications including combining wind, [solar] PV and diesel generators on both grid, weak grid and off-grid environments," said Chief Executive Scott McGregor.
The four units already in place comprise of a 1.68 megawatt hour REDT being used on a Scottish wind project, a 240 kilowatt hour REDT for an African hotel that is not connected to the national grid, and a 40 kilowatt hour REDT for a UK solar farm, which is also in the process of connecting a further unit imminently.
"This approach should position the REDT storage system for maximum follow-on sales opportunities. The remaining eight placements will be announced later this year as they occur," said McGregor.
The other eight units to be deployed all will be 40 kilowatt hour units.
"After 15 years' of thorough and cautious development, REDT commercially enters the flow battery sector this year as a major participant, producing 12 units across the small, mid and large product range for key customer demand applications," added McGregor.
Camco shares were down 3.6% to 5.30 pence per share on Thursday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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