redT energy awarded £750,000 funding grant by UK Government
redT energy plc is pleased to announce the award of a £750,000 UK Government grant as part of a scheme to fund innovative smart energy systems.
The award is part of an initiative aimed at UK-based companies which are at the forefront of energy market innovations.
The grant will be used to accelerate redT’s research and development initiatives. This includes:
- stack development (increasing performance and reducing costs)
- production automation (using cutting-edge manufacturing processes)
- further development of the vanadium electrolyte.
With the grant, redT will further reduce costs associated with its technology whilst increasing performance and accelerating the development of the company’s future generations of energy storage machine. redT’s third-generation machines are expected to be released later this year.
This continued support from the government demonstrates the increasing significance of flow machine technology in the UK and highlights its growing importance as a long-term solution for the country’s future energy system.
Scott McGregor, CEO, redT energy commented:
“We would like to thank the government for their continued support at what we believe is a tipping point for energy storage in the UK.
Winning this grant demonstrates that redT is at the forefront of the energy storage industry and shows that the government is keen to support energy technologies that will help to decarbonise the UK economy.
The funding will enable us to further develop our technology, by reducing cost whilst increasing performance at the same time, making flow machines an even more financially compelling proposition to our customers.”
- Read about the UK government funding for innovative smart energy systems