RedT Energy gets planning approval for UK Superhub Project
Francesca Morgan
Company News - 2 mins
13:10, 22nd July 2019

AIM-listed firm RedT Energy (RED) FOLLOW, which specialises in energy storage infrastructure solutions, announced on Monday that it had secured planning permission for its first UK grid-scale project. The planning permission has been granted at the Cowley substation site -- the proposed location for the project. 

“Energy Superhub Oxford” project, or “ESO”, which is valued at an overall £41 million, involves the installation of the world’s first transmission-connected lithium ion and redox-flow hybrid battery. The project will showcase a range of cutting edge technologies, from electric vehicle charging to low carbon heating to support Oxford City Council’s journey to zero carbon emissions. 

Neil O'Brien, Executive Chairman at redT acknowledged the significance of the UK project in its showcasing of valuable energy solutions, commenting: 

“This is the first UK grid-scale project for redT and will be the largest deployment of vanadium redox flow technology in the UK to date."

The ESO project has progressed as global interest towards reducing emissions and improving public health continues to grow, with governments focusing their efforts increasingly towards sustainability goals. In particular, the project reflects the surge of lithium-ion batteries - a market expected to bring in $60 billion by 2024. 

RedT have been working alongside multiple parties to deliver the energy project after annoucing their intial involvement in April this year - and with this next development in place, considered an “important milestone”, the project has been pushed forward appropriately into its next phase. 

Mr O'Brien further added, "With planning approval now in place, we're looking forward to moving to the next phase on the Energy Superhub Oxford project alongside our consortium partners.”

For more news and updates on RedT Energy: FOLLOW

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Comments
info
Login or register to post comments

Recent Articles
Watchlist