Redflow raises A$18.1M to grow battery sales

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.

“We now have the ability to manufacture and supply quality batteries in predictable quantities. The current plan is to increase our manufacturing capacity in Thailand so we can manufacture as many as 90 complete batteries a month by June 2018 and, subject to demand, scale up production to as many as 250 batteries by December 2018. We’ve also appointed a new Chief Executive Officer, Tim Harris, who has extensive international business experience in the telecommunications sector.

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Redflow board pleased by Thai factory progress

The Redflow Limited board 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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Redflow recruits new skills for next phase of growth

Redflow has named experienced technology executive Tim Harris as its new CEO to focus on the company’s growth and commercialisation.

Long-term Redflow executive Richard Aird returns to the role of Chief Operating Officer, a critical position that focuses his deep skills and experience with development of Redflow’s unique ZBM2 battery to ensure its successful production by the new factory in Thailand. Richard will continue his successful work in driving cost-downs, optimisations and quality improvements in the supply-chain and manufacturing process as the company prepares to ramp-up battery production during 2018.

Since last year’s strategic review, Redflow has transferred its manufacturing operations from North America to Thailand, where it is now successfully producing battery stacks – the critical component of its zinc-bromine flow batteries – and is on track to produce full batteries by June this year.

Tim Harris has extensive international business experience from the telecommunications sector – a key market for Redflow – where he was previously Chief Commercial Officer for Chorus in New Zealand and held senior leadership roles for BT Group in Singapore and the UK. More information about Tim is available at https://redflow.com/about-us/board-management/.

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Frost & Sullivan lauds Redflow with 2018 Asia Pacific Battery Manufacturer Award

Global consulting firm Frost & Sullivan has presented Redflow Limited with its 2018 Asia Pacific Battery Manufacturer Competitive Strategy and Innovation Leadership Award

Frost & Sullivan said the award acknowledged the relentless efforts of the Redflow team and recognised the company’s outstanding performance throughout 2017. “It is a reflection of your great achievement in year 2017 and we hope it will inspire your team to even greater levels of performance,” said Frost & Sullivan Senior Vice President – Energy & Environment, Asia Pacific Ravi Krishnaswamy.

Frost & Sullivan is a business consulting firm involved in market research and analysis, growth strategy consulting, and corporate training across multiple industries.

The Frost & Sullivan Best Practices awards have identified and honoured best-in-class companies that have demonstrated excellence in their respective industries. Award recipients were identified based on in-depth interviews, analysis, and extensive secondary research conducted by Frost & Sullivan’s analysts. Companies are typically studied on their revenues, market share, capabilities, and overall contribution to the industry in order to identify best practices.

First Redflow Thai-stack batteries ready for customers

Redflow Limited has completed the first ZBM2 batteries using battery stacks made by its new Thailand factory, which are now ready for shipment to customers.

The battery stack is the critical part of the Redflow ZBM2 zinc-bromine flow battery, with electrodes that charge the battery by depositing zinc on a membrane and discharge it by reversing that process.

At Redflow’s Brisbane headquarters, the Thai-made battery stacks were installed on existing ZBM2 battery ‘tank sets’ and connected to performance-testing equipment. After passing pre-delivery tests, these complete batteries are now scheduled for delivery to supply existing customer orders.  Redflow will continue to assemble, test and deliver limited quantities of ZBM2 batteries with Thai-produced battery stacks until it starts end-to-end manufacturing and testing of complete batteries in Thailand by June.

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Simon Hackett with the redesigned Redflow LSB

Redflow simplifies Large Scale Battery design

Redflow Limited (ASX:RFX) has simplified using its batteries in large energy storage systems by integrating plug-and-play technology into its LSB (Large Scale Battery) reference platform.

Implemented in an LSB installed at Simon Hackett’s Base64 property in Adelaide, the new design incorporates six 12-kilowatt (kW) Victron Quattro 48/15000 battery inverter/chargers with 45 Redflow ZBM2 batteries. By implementing this improved design, the Base64 LSB will deliver an energy storage capacity of 450 kilowatt-hours (kWh).

The LSB Reference Platform is a container-sized deployment of Redflow batteries, which can operate as a single ‘virtual” battery to assist Redflow system integrators with designing and deploying larger energy storage systems. Base64 installed its original LSB in 2016, running it for about a year before undertaking the redesign process in conjunction with Redflow.

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Redflow’s first Thai battery stacks arrive in Brisbane

Redflow Limited has today received in Australia the first battery electrode stacks made by its new Thailand facility.

The battery stack (pictured below) is the critical part of the Redflow ZBM2 zinc-bromine flow battery, containing electrodes that charge the battery by “plating” zinc on a membrane and then discharge it by reversing that process, which can sustain 10 kilowatt-hours of energy storage capacity for the battery’s operating life.

At Redflow’s Brisbane headquarters, the Thai-made battery stacks will be installed on ZBM2 battery tank sets (without stacks) which were manufactured last year at the former factory in North America.

Redflow Chairman Brett Johnson said these complete batteries would be tested and then supplied to customers to meet existing orders. “As we manufacture stacks for these approximately 200 tank sets, we will progressively validate high-quality components and sub-assemblies at our factory,” he said.

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Mossel Bay goes carbon neutral with Redflow

Mossel Bay Municipality in the Southern Cape province of South Africa has eliminated the carbon footprint of its Technical Services Department buildings by deploying ZBM2 batteries from Redflow.

Installed in late 2016, the four 10 kilowatt-hour (kWh) zinc-bromine flow batteries have enabled the ageing offices to become net exporters of electricity to the power grid through the intelligent storage of energy harvested from 114 rooftop photovoltaic solar panels.

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Redflow produces first battery stacks in Thailand

Australian battery company Redflow Limited has achieved a second manufacturing milestone by successfully producing the first battery electrode stacks from its new factory in Thailand.

The battery stack is a critical part of the Redflow ZBM2 zinc-bromine flow battery, containing electrodes that charge and discharge the battery by “plating” and “deplating” zinc on a membrane – a process that can sustain 10 kilowatt-hours of energy storage capacity throughout the battery’s operating life. Redflow produced its first battery components from the factory last month.

ASX-listed Redflow (ASX: RFX) reports that the factory has set up and qualified its battery stack machines and processes, optimising them for Thai environmental conditions.

Redflow Limited Managing Director and CEO Richard Aird said assembly of the battery stacks in Thailand had gone according to plan. “The manufacturing team is very happy with the consistent quality and acceptable yield metrics of the stack line,” he said.

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Redflow continues board renewal

Australian battery company Redflow Limited (ASX: RFX) has recruited senior financial executive and director Jenny Macdonald to its board as it prepares to start production in Thailand.

Sydney-based Ms Macdonald has extensive experience working for ASX-listed and global companies at the CFO and general management level. She is on the board and audit committee of API, the parent company of Priceline Pharmacy, Soul Pattinson Chemist and Pharmacist Advice. Previous roles include non-executive director for hipages and Fitted for Work; CFO and interim CEO at Helloworld Limited; and CFO and General Manager International with REA Group.

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