Redflow

Redflow LogoRedflow’s unique zinc-bromine flow batteries are designed for stationary energy storage applications ranging from its ZCell residential battery to its scalable ZBM2 batteries for industrial, commercial, telecommunications and grid-scale deployment. Redflow Limited, a publicly-listed company (ASX: RFX), produces high energy density batteries that are sold, installed and maintained by an international network of system integrators. Redflow batteries offer unique advantages including 100 per cent depth of discharge, tolerance of ambient temperatures as hot as 50 degrees Celsius and sustained energy storage of 10 kilowatt hours (kWh) throughout its operating life.

Redflow CEO Simon Hackett with ZMB2 batteryRedflow CEO Simon Hackett with ZMB2 batteryAustralian battery company Redflow Limited has repeated its largest ever sale of ZBM2 zinc-bromine flow batteries, after receiving a second international order worth about US$600,000 (A$750,000).

Auckland-based Hitech Solutions placed this latest order for a major, multiple stage project which is using Redflow's ZBM2 batteries to build advanced hybrid energy storage systems that will deliver reliable power to multiple remote sites in a Pacific Island nation.

Hitech specialises in providing telecommunications and infrastructure services for clients in New Zealand and internationally.

Redflow has completed delivery of all batteries to fulfil Hitech's first order, announced in May.

Redflow CEO Simon Hackett said this repeat large sale validated the appeal of ZBM2 batteries to replace lead-acid batteries for network power applications in demanding and remote environments. "We are delighted that Hitech has again chosen Redflow batteries," he said.

Redflow CEO Simon Hackett: ”We remain on track to commence production with our new manufacturing partner MPTS as planned”Australian battery company Redflow Limited has today announced it has established a company in Thailand to manage production of its zinc-bromine flow batteries in South East Asia.

In May, the ASX-listed company (ASX:RFX) announced its decision to move its battery manufacturing from North America to South East Asia, to be closer to its most lucrative markets, in Australia, Oceania and southern Africa, and to reduce production costs.

In a statement to the ASX this morning, Redflow reported that it has established Redflow (Thailand) Limited, which is negotiating a lease on premises in a Thai free trade zone. It is also seeking Thai licensing and regulatory approvals.

As well as its location, close to Redflow’s supply chain and marketplaces, Thailand offers good manufacturing expertise, competitive logistics, an attractive labour cost and effective tax treatment for international manufacturers within its free trade zone structure.

Redflow CEO Simon Hackett said the final North American production batch of ZBM2 batteries was now in transit to Australia. “I’m pleased to report that our stack manufacturing equipment from North America has arrived in Thailand ahead of schedule,” he said.

Redflow Exchange Chairman and CEO Simon Hackett with ZCellRedflow Executive Chairman and CEO Simon Hackett with ZCellAustralian 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:

  • Prioritising sales to supply proven demand areas including mature telecommunications / industrial / commercial, remote/off-grid power and ‘weak-grid’ market segments
  • Transitioning battery production to South East Asia at a more appropriate manufacturing site to leverage proximity to proven markets and reduce supply chain costs
  • Implementing a range of key battery cost-down projects to reduce delivered product manufacturing cost by at least 30 per cent over the next 18 months, and
  • Targeting sustainable cashflow-positive operations by the end of 2018.

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.