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Redflow Chairman Brett Johnson

Australian energy storage company Redflow Limited (ASX: RFX) today announced it will raise $18.1 million in equity capital to scale up battery production and to grow Australian and international sales.

The Brisbane-based company is raising the funds through a combination of a placement to new investors and a fully underwritten rights issue offered to all current shareholders.

Redflow Chairman Brett Johnson said Redflow had made significant progress in the past six months. “We’ve opened our new wholly-owned manufacturing facility in Thailand which is making quality battery stacks,” he said.

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Sam Mostyn with Pia Peterson WEvoke customer Sam Mostyn (left) with company founder Pia Peterson

Australia’s first chauffeur-driven Tesla service, Evoke, has surpassed more than one million kilometres of zero-emission motoring by transporting passengers in its electric vehicles.

In reaching this milestone, the Sydney-based company, founded by Pia Peterson in 2015, has offset more than 325,000 kilograms of carbon emissions and avoided burning 130,000 litres of petrol.

As well as keeping the air cleaner, Evoke’s achievement enables many of its corporate customers to claim emission reductions delivered by the sustainable transport service as Scope 3 carbon offsets.

Regular Evoke passenger Sam Mostyn, who sits on the boards of Virgin Australia, Transurban Group, Mirvac, Citibank Australia, the Climate Council and ClimateWorks Australia, said she was delighted to support Evoke from its early days. “Pia Peterson and her team combine exceptional customer focus with a commitment to zero-emission transport,” she said.

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Redflow stack line WRedflow stack line at new factory in ThailandThe board of Australian battery company Redflow Limited has commended the successful commissioning of the company’s new factory in Thailand after visiting the facility this month.

During the two-day inspection, Redflow directors saw factory staff fully assemble two ZBM2 zinc-bromine flow batteries which are now undergoing post-production acceptance testing.

Redflow Chairman Brett Johnson said the board had been pleased by progress at the factory. “We are impressed by the commitment of the on-site team to producing high-quality components,” he said.

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  2. First Redflow Thai-stack batteries ready for customers (13 March 2018)
  3. Redflow simplifies Large Scale Battery design (20 February 2018)
  4. Accelerated’s Band 28 4G Router Beats NBN Blues (12 February 2018)
  5. Redflow’s first Thai battery stacks arrive in Brisbane (07 February 2018)
  6. Mossel Bay goes carbon neutral with Redflow (31 January 2018)
  7. Redflow produces first battery stacks in Thailand (23 January 2018)
  8. Redflow continues board renewal (22 December 2017)
  9. NBN problems help NPS win Accelerated award (20 December 2017)
  10. Redflow makes first battery components in Thailand (19 December 2017)
  11. Global boom for SA’s smartphone security app (12 December 2017)
  12. Redflow reveals Thai battery production timeline (24 November 2017)
  13. Launch of the book Yvonne was never going to write (20 November 2017)
  14. Redflow aims for 250 batteries/month from Thailand (06 November 2017)
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