Dublin BIC et al. invest €900,000 in RED-T
Dublin BIC, manager of the AIB Seed Capital Fund, and Enterprise Ireland have taken part in a €900,000 funding round for RED-T, a developer of flow battery technology.
RED-T's management also participated in the round. The investors are convinced that RED-T's technology is of global importance for energy security and the creation of a low carbon environment.
Company
RED-T is headquartered in Dublin and has developed a Vanadium-based flow battery technology, which allows cheap and efficient storage of electrical energy in liquid form. Founded in 2001, the company operates an R&D facility in Reading.
People
Mason Hayes Curran worked on the investment for AIB Seed Capital Fund and Greg Treston is head of High Potential Start Ups at Enterprise Ireland.
Advisers
Company – BDO, Byrne Wallace, Nigel Brooks (Legal).
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