Australian energy storage company Redflow Limited (ASX: RFX) reports it has completed a successful turnaround during 2017-18 and is focussed on growth in the current year.
In a letter to shareholders accompanying the company’s 2017-18 results, Redflow reports that the past year had seen the company successfully set up its wholly owned factory in Thailand, where it now produces its unique zinc-bromine flow batteries.
Chairman Brett Johnson said Redflow’s primary focus was on producing high-quality batteries to meet the commercial and technical requirements of its customers. “Redflow's priority is to maintain an efficient, high-quality manufacturing facility that, with increasing sales revenue, will progressively improve our gross profit margin,” he said.
Brisbane-based technology company Citrus is winning both global and tier one Australian retailers such as Dan Murphy’s to its online advertising platform which boosts web sales and keeps revenues in the local economy.
Led by CEO Brad Moran, Citrus provides online retailers and their suppliers a digital advertising tool similar in nature to Amazon’s advertising network that increases product sales from websites while retaining advertising revenues within the Australian retail ecosystem rather than losing it offshore.
Citrus equips retailers to create a new revenue stream and monetise their digital real estate by allowing suppliers to target customers by bidding in a live auction for prime product positioning and banner advertising on retail websites. The innovative Citrus real-time relevancy engine gives consumers a more personalised shopping experience by letting suppliers more accurately predict and satisfy their preferences through prime ad positions and banner placement at the online point of purchase.
Redflow’s ZBM2 zinc-bromine flow batteries have solved the problem of insufficient energy supply that was holding back a $4 million renovation of a heritage-listed building in central Adelaide.
After architectural firm Williams Burton Leopardi bought the derelict 1916 Darling Building, largely neglected since the 1960s, they learned that the planned peak energy demand for the renovated building would require more electricity than the local power grid could supply. The peak power draw during summer was calculated at 290 amps - whereas SA Power Networks could initially supply only 150 amps, although this was later revised upwards to 200 amps.
Williams Burton Leopardi director David Burton said many solutions were so expensive they would have made the renovated building commercially unviable. “We didn’t have the space in the building for a transformer; gas would cost us hundreds of thousands of dollars and ‘winging it’ was not an option,” he said.