Two of gildemeisres execs already over at red T. Avl posted that...

Two of gildemeisres execs already over at red T. Avl posted that the Europe director was in redT offices in Facebook.

Post of the article noting gildemeisterss demise and the movement of staff .
VSA Capital Market Movers - REDT Energy
2017-09-18 08:19:00



redT Signs Partnership Sales Agreements

redT energy (LON:RED)#, a developer of vanadium redox flow machines for large-scale energy storage applications, has signed partnership agreements with a number of distributors in Central & Eastern Europe, South East Asia and the Pacific region. It has also announced two new senior hires.

• Combined, the distributors have made an initial commitment of 12 units as part of a qualified pipeline of more than 300 units

• Bengt Stahlschmidt has been announced as Global Business Development Lead, alongside Adam Whitehead who has joined as Research Principle. Both join from flow battery peer Gildemeister, which has recently entered the administration process in Germany

VSA Comment

RED has secured its first commercial orders from a group of specialist energy sector distributors with longstanding experience selling flow machines from Gildemeister and others into the global market. The fact that RED has now been selected to deploy its machines through these channels highlights the company’s move towards becoming the flow machine manufacturer of choice in the market.

The apparent demise of key flow competitor Gildemeister has given RED access to its key people, the first two being Bengt and Adam as detailed above, as well as its future pipeline, with the Austrian company having done much to promote the benefits of flow machines in the global energy storage sector.

Although RED’s commercial sales have started slower than we had anticipated, this announcement is clearly good news for the company and we hope a sign of things to come as the company looks to move from generating a limited number of individual sales, to becoming the low cost mass market producer of flow machines for the global energy storage sector.

We maintain our BUY recommendation and target price of 22p.

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