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In Redflow
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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.

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In Evolution Business Systems
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Vic Air Supplies Financial Accountant Shelley Hughes Vic Air Supplies Financial Accountant Shelley Hughes Melbourne-based air conditioning company Vic Air Supplies has migrated its business systems to the cloud after replacing its old accounting system with Microsoft Dynamics NAV.

Vic Air Supplies http://vicair.com.au/ is an Australian owned, family-run business which was established by Peter and Caroline Wood in 1994. During the past two decades, Vic Air Supplies has grown to employ more than 30 people at three branches in Victoria. The company manufactures flexible ducting and sheet metal and operates a wholesale division with more than 4000 products.

Since deploying Microsoft Dynamics NAV, the heating, ventilation and air conditioning specialist has delivered better planning, more accurate reporting, strengthened stock management and more responsive customer service.

Vic Air Supplies chose Melbourne-based enterprise software specialist Evolution Business Systems (EBS), the company’s IT partner of 15 years, to deploy Microsoft Dynamics NAV in early 2016.

Vic Air Supplies Financial Accountant Shelley Hughes said they had outgrown their old system. "EBS’s skill and experience with NAV made it easy to do the design phase," she said.

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In Redflow
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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.

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