RedT has confirmed it has agreed outline terms for a reverse takeover of fellow vanadium redox flow battery firm Avalon, a move which the firm said would create a “leading player” in the energy storage market.
Concerns over the future of energy storage firm redT remain after it admitted that, without additional investment, the vanadium flow machine manufacturer could be forced to cease trading by the end of November.
Statkraft has been revealed as the major European utility to partner with redT on a fully-financed solar-plus-storage offering for the UK’s thriving C&I market.
Statkraft has partnered with energy & meteo systems to launch a 1GW wind, solar and battery storage virtual power plant in the UK, which it says will further renewables’ penetration into the country’s energy market.