TIDMCCE
RNS Number : 6144E
Camco Clean Energy PLC
05 November 2015
5 November 2015
Camco Clean Energy plc
("Camco" or "the Company")
RedT Energy contracts with Udaras Na Gaeltachta in Ireland to
implement an RedT vanadium energy storage system to support a
renewable building with solar PV generation
RedT Energy (Camco's energy storage business) is pleased to
announce its latest order to deliver a 5-40kWh energy storage
system to a building housing an 11kW renewable photovoltaic ("PV")
application at Aughleam Enterprise Centre, County Mayo, Ireland.
The RedT storage system will enable PV renewable power generation
to reach its full potential, significantly increasing the
consumption of self-generated renewable energy by the Enterprise
Centre.
A key challenge for renewable energy generation, particularly
building integrated PV, is that power generation is not consistent
with peak consumption demands throughout the day, making it
difficult to match supply with demand. The location of the RedT
system at the Enterprise Centre will demonstrate that, by using
RedT's vanadium energy storage system, the business can maximise
self-consumption of its local PV generation, resulting in
significant economic benefits of power usage.
The RedT system is very durable with limited degradation over
its system lifetime. Coupling storage with PV requires energy
storage technologies that can handle a long charge cycle throughout
the day and a long discharge cycle during the night. This process
often leads to rapid degradation if using conventional storage
technologies such as lead and lithium, however RedT's energy
storage system can efficiently support these long full discharge
cycles without degradation.
The facility for the installation project is located at
Aughleam, on the outskirts of Belmullet, Co Mayo. This area is
becoming a national hub of wave energy research, and this new
project will further enhance the area as a centre of renewable
energy demonstration excellence.
The small business/retail price for power in Ireland is about
EUR0.16 per kWh and combining PV and storage is providing a viable
alternative model for businesses to achieve a high degree of
electrical energy autonomy. RedT estimates that the size of the
market for storing PV generation associated with building
development is in excess of 3 GWh in the UK and Ireland.
Scott McGregor, CEO of Camco said,
"Our strategy for 2015 is to close orders for market seeding
units and place these into key application markets which have
strong demand for storage.
The Udaras 40kWh order is our fifth market seeding unit to be
announced focussed on the building PV sector. This project will
demonstrate that commercial buildings can become largely energy
self-sufficient with renewable generation technologies and energy
storage. Our vision has always been to enable the decarbonisation
of the electrical network with energy storage. We are proud to be
associated with this project as it demonstrates the opportunity
that exists to build a self-reliant, robust, and entirely renewable
power system with indigenous energy resources.
Prior market seeding announcements have included; Gigha 1.68MWh
system for a Scottish wind utility application, Thaba hotel 240kWh
for an African diesel weak grid application and Green Acorn 40kWh
for a UK PV dairy farm application as well as the RedT system which
has recently been delivered to our Wokingham development
centre."
Enquiries
+44 (0) 207 121
Camco Clean Energy plc 6100
Scott McGregor, Chief Executive
Officer
Jonathan Marren, Chief Financial
Officer
+44 (0)207 220
finnCap Ltd 0500
Julian Blunt (Corporate
Finance)
Tony Quirke (Corporate Broking)
+44 (0)207 653
Newgate 9850
Tim Thompson
Helena Bogle
Ed Treadwell
About Camco Clean Energy
Camco Clean Energy plc (AIM: CCE) is a clean energy development
company which combines technical and commercial expertise to
finance, develop, and operate renewable energy projects and storage
technology.
With 25 years of experience and an outstanding track record
throughout Asia, North America, Africa and Europe, Camco works with
local developers, governments, development banks, and private
investors to implement clean energy projects, policies, and
technologies and reduce emissions.
Over the past year, Camco has brought an advanced energy storage
technology to market (RedT energy), secured an investment advisory
fund mandate for African renewables, and has developed utility
scale biogas plants in the US.
* Camco Clean Energy plc, on a fully diluted basis, has an
economic interest of 97.1% in RedT.
About RedT energy
RedT has developed a new and proprietary energy storage
technology that enables the efficient and sustainable storage of
electrical energy in liquid form. The multi-valent properties of
the Vanadium Redox electrolyte are used to provide a storage medium
of virtually unlimited life with a system able to last more than
10,000 deep charge/discharge cycles. Combined with its very low
maintenance requirements, the RedT systems are able to deliver some
of the lowest Total Cost of Ownership (TCO) results in the
industry. Long discharge durations are achieved by the simple
addition of extra electrolyte capacity at a relatively low marginal
cost.
Up until now it has not been possible to directly compare
variable RE generation 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
the complete displacement of conventional fossil fuel power with
renewable generation. The RedT system has applications in remote
power, smart grids, power quality, and all aspects of renewable
energy management.
About Udaras Na Gaeltachta - udaras.ie
Established in 1980, Údarás na Gaeltachta is the regional
authority responsible for the economic, social and cultural
development of the Gaeltacht. The overall objective of Údarás na
Gaeltachta is to ensure that Irish remains the main communal
language of the Gaeltacht and is passed on to future
generations.
The Authority endeavors to achieve that objective by funding and
fostering a wide range of enterprise development and job creation
initiatives and by supporting strategic language, cultural and
community based activities.
This project is one of a number of demonstration projects
organised under the GREAT Project (Growing Renewable Energy
Applications and Technologies) which aims to accelerate the
deployment of Smart Grid (SG) in North West Europe. The focus of
the Project is on the provision of information to Regulatory
Authorities on technological development, encouraging small to
medium sized enterprises (SMEs) and communities to develop
technological solutions in relation to SG, renewable energy (RE)
and distributive generation (DG).
This information is provided by RNS
The company news service from the London Stock Exchange
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November 05, 2015 02:00 ET (07:00 GMT)
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