Centrify, the leader in securing hybrid enterprises through the power of identity services, has overnight revealed it hit a major milestone with more than US$100M in global sales during its 2016-17 financial year.
Centrify generated positive cash flow from operations during the financial year while achieving a customer retention rate of more than 95 per cent. Highlighting strong sales in Australia and New Zealand during the year, Centrify will have a prominent presence at the Gartner Security & Risk Management Summit in Sydney on August 21-22.
Centrify CEO Tom Kemp said the company had prioritised a customer-funded approach to the business during 2016-17. “This has allowed us to focus on long-term growth and customer needs,” he said.
Australian battery company Redflow Limited today unveiled an investment package that will raise $14.5 million to target sustainable delivery of its zinc-bromine flow batteries to high demand areas such as telecommunications.
Redflow’s capital-raising follows its May announcement of decisions from a strategic review including:
Redflow has provided an Investor Presentation containing details of the outcome of its Strategic Review and consequent activities undertaken or planned by the company, plus its new manufacturing partner, Malaysian-based MPTS, a long-term supplier of a core component of Redflow’s battery stack.
Australian battery company Redflow Limited (ASX:RFX) has praised proposed new regulations that prioritise fire safety for the deployment of lithium-based batteries inside homes.
Standards Australia has released final draft recommendations that require lithium-ion batteries - which are classified as “fire hazard class 1” - must not be installed inside a domestic dwelling, within a metre of any access or egress area or under any part of a domestic dwelling. There are no current Standards Australia regulations for in-home battery installations.
This draft standard follows Clean Energy Council industry rules issued last year, which state: “Some lithium-based batteries can fail due to internal overheating, in a process known as ‘thermal runaway’. The normal chemical reactions within the battery during charging are exothermic (heat-generating).
“If this heat is not able to dissipate, or the battery is overcharged for a long duration, the rate of chemical reaction can then speed up, which in turn increases the battery temperature further, in an increasing cycle until the battery is physically damaged ... Once this happens, there is a risk of fire and/or rupture of the battery, with emission of toxic material.”
Redflow CEO Simon Hackett said the safety-first principle should be a priority for the rapidly growing energy storage industry. “While manufacturers say modern lithium-based batteries are designed not to overheat, it only takes one poorly designed or deployed battery to catch fire at night to cost lives,” he said.