AIB SEED CAPITAL FUND LEADS SYNDICATED €900,000 INVESTMENT IN RED-T WITH CO-INVESTORS ENTERPRISE IRELAND & COMPANY CEODUBLIN Ireland, 16 DECEMBER 2011, The AIB SEED CAPITAL FUND, managed by Dublin BIC has led a €900k investment in RED-T Limited, a leading developer of flow battery technology. The syndicated investment comprises co-investment by the AIB Seed Capital Fund, Enterprise Ireland and the CEO of RED-T.RED-T is headquartered in Clontarf, Dublin, and has an R&D facility in Reading, England. The company has developed a unique battery technology. RED-T’s technology is a unique Vanadium based flow battery which enables the cheap and efficient storage of electrical energy in liquid form. This represents a paradigm shift in energy storage, and ultimately the complete displacement of conventional fossil fuel power with renewable generation. Because the technology relies on the reaction of different valence forms of the same element, Vanadium, the system has unlimited life, with very long cycle life between component replacement (approx. 10,000 full cycles). This enables the sustainable storage of energy, and for the first time ever, provides the ability for an energy user to completely shift to renewable power sources. The initial markets for the system will be the remote power and communications market, which is valued at an estimated $6.8Bn. Initial customers for the system are located worldwide, including in Brazil, Czech Republic, France, Germany, Ukraine, Russian Federation, Italy, Spain, Saudi Arabia, Indonesia, and The Phillipines.Commenting on the announcement, Alex Hobbs, Dublin BIC said: “We are delighted to see Dublin BIC provide investment in a company like RED-T who are at the forefront of manufacturing energy storage technology for major international customers. This technology is of global importance for energy security, the move to renewable generation, and the creation of a low carbon economy. It is the missing enabling element that has eluded all industrialised nations in their commitment to creating a low carbon economy, and reducing emissions from power generation."Welcoming the announcement Greg Treston, Head of High Potential Start Ups at Enterprise Ireland, said: “Enterprise Ireland is delighted to have supported this highly innovative, export oriented company. This is an exciting project, led by an ambitious team, with a keen focus on anticipating and satisfying customer needs. We look forward to working closely with RED-T in developing this project and building their international growth”.John Ward, CEO and co-founder of RED-T, said: “This investment in RED-T is a very significant milestone, we intend to recruit highly skilled engineers and sales professionals to enable us to further strengthen our core offering and build market share in key international markets.” Scott Mc Gregor, RED-T Director and CEO of CAMCO, the majority shareholder of RED-T, added: “We congratulate the team for successfully completing a fully operating pilot. This round of financing is a major step towards commercialising the technology to provide a low cost solution to industry; we welcome our new shareholding partners. Low cost fuel storage is a critical solution if the world is to fully utilise clean energy to address climate change. Camco established Refuel (now RED-T) and is a proud supporter of the business.”ENDSFor further information please contact:RED-T 16 The Seapoint Building,44-45 Clontarf Road, Dublin 3john.ward(at)poweringnow.comwww.poweringnow.com +353 (0)86 8251891+353 (0)1 8535680 Petra Ernst-Gutierrez, Marketing & Communications Manager, Camco +44 (0)20 7121 6100 Citigate Dewe RogersonChris Gardner / Alistair Kellie / Malcolm Robertson +44 (0) 7638 9571Notes to Editors:About RED-T www.poweringnow.com RED-T has developed a unique energy storage technology which enables customers to efficiently and sustainably storge electrical energy . RED-T’s technology is a unique Vanadium based flow battery which enables the cheap and efficient storage of electrical energy in liquid form. Because the technology relies on the reaction of different valence forms of the same element, Vanadium, the system has unlimited life, with very long cycle life between component replacement (approx. 10,000 full cycles) . This enables the sustainable storage of energy, and for the first time ever, provides the ability for a customer to completely shift to renewable power sources. This represents a paradigm shift in energy production, and ultimately the complete displacement of conventional fossil fuel power with renewable generation. The system has applications in remote power, smart grids, power quality, and automotive industries.see also:

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About Dublin Business Innovation Centre www.dbic.ieDublin Business Innovation Centre, Fund Manager of The AIB Seed Capital Fund, has extensive expertise in supporting seed and early stage investments. The AIB Seed Capital Fund is the leading seed capital fund in the Irish market, established in 2007 under the Enterprise Ireland Seed and Venture Capital Programme 2007-2012 and has a total of €53m under management to provide seed and early stage capital for innovative companies across a range of sectors throughout the Republic of Ireland. More information on The AIB Seed Capital Fund is available at www.dbic.ie/services/access-to-finance/10-aib-seed-capital-fundAbout Enterprise Ireland www.enterprise-irelandEnterprise Ireland, the Irish government agency responsible for the development and growth of Irish industry, is actively involved in supporting early stage high potential start-ups. With over 80 new direct equity investments annually in these businesses, and through its investment in 41 seed and venture capital funds, Enterprise Ireland is now the largest early stage VC investor in Europe in terms of the number of investments made. In addition, through its network of 31 international offices, Enterprise Ireland actively supports Irish companies to grow their export markets and create valuable jobs in Ireland.About CAMCO www.camcoglobal.comCamco is a global developer of clean energy projects and solutions to reduce greenhouse gas emissions reduction and clean energy projects with business operations in the US, UK, China, Africa, Russia, and SEA.Camco has a 20-year track record in project development, technical delivery and policy development, working with local industry, multinational companies, governments and regulatory bodies.