http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 26 Sep 2018 15:18:12 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Redflow marks a milestone by manufacturing complete batteries in Thailand ]]> http://www.proactiveinvestors.com.au/companies/news/200253/redflow-marks-a-milestone-by-manufacturing-complete-batteries-in-thailand-200253.html Redflow Ltd (ASX:RFX) has marked an important milestone after manufacturing complete zinc-bromine batteries (ZBM2) at its new Thai manufacturing facility.

The company now has the capacity to consistently produce 90 ZBM2 batteries per month.

ZBM2 battery

These batteries are being shipped to customers in Australia and overseas with production volumes synchronised with customer demand.

Redflow chief executive officer Tim Harris said: “This achievement is underpinned by our ongoing focus on ensuring the consistent supply of quality batteries from this new facility.

“After rigorous qualification of our manufacturing process during the first half of 2018, we are very happy with the quality of these Thai-made batteries.

“We have already started shipping these complete batteries to customers in Australia and internationally and we look forward to scaling up production at a rate appropriate to market demand.

Focused on supplying key energy storage markets

Redflow’s 10 kilowatt-hour (kWh) zinc-bromine flow batteries are designed for demanding energy storage applications in the residential, commercial & industrial and telecommunications sectors.

Marketed as ZBM2 and ZCell, Redflow batteries can scale from a single battery installation through to grid-scale deployments.

Redflow, which sells its zinc-bromine flow batteries through an authorised partner network in Australia and internationally, is focussed on supplying key energy storage markets in Asia, Africa and Australasia.

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Fri, 06 Jul 2018 15:46:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200253/redflow-marks-a-milestone-by-manufacturing-complete-batteries-in-thailand-200253.html
<![CDATA[News - Redflow enters trading halt ahead of equity capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/195518/redflow-enters-trading-halt-ahead-of-equity-capital-raising-195518.html Redflow Ltd (ASX:RFX) was granted a trading halt by the ASX today as the company has commenced a capital raising.

Industry sources suggest the energy story company aims to raise up to $15.6 million at 10 cents through a combined placement and 1:5 rights issue.

Further details regarding the capital raising are expected to be released over the next 48 hours.

Manufacturing energy storage flow batteries

Redflow has developed, commercialised and commenced manufacturing energy storage flow batteries.

Its 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.

READ: Redflow’s first batch of zinc-bromine flow batteries ready for customers

In mid-March 2018, Redflow manufactured its first batch of ZBM2 zinc-bromine flow batteries using battery stacks made by its new Thailand factory.

Redflow is targeting sectors where its products can replace conventional batteries - especially lead-acid batteries.

The company is prioritising market development and sales to mature segments with a large, proven and ongoing demand for energy storage.

New CEO brought recently instated

At the end of March 2018, Redflow appointed a new technology executive, Tim Harris, as its new CEO.

Harris will focus on the company’s growth and commercialisation.

He has extensive international business experience from the telecommunications sector, a key market for Redflow.

Harris was previously chief commercial officer for Chorus in New Zealand and held senior leadership roles for BT Group in Singapore and the UK.

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Mon, 23 Apr 2018 12:29:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195518/redflow-enters-trading-halt-ahead-of-equity-capital-raising-195518.html
<![CDATA[News - Redflow’s first batch of zinc-bromine flow batteries ready for customers ]]> http://www.proactiveinvestors.com.au/companies/news/193038/redflows-first-batch-of-zinc-bromine-flow-batteries-ready-for-customers-193038.html Redflow Ltd’s (ASX:RFX) first batch of ZBM2 zinc-bromine flow batteries using battery stacks made by its new Thailand factory is now ready for shipment to customers.

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

This process can sustain 10 kWh (kilowatt-hours) of energy storage capacity for the battery’s operating life.

Energy storage in residential and commercial settings

Redflow’s zinc-bromine flow batteries are designed for stationary energy storage applications in residential as well as industrial and commercial settings.

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.

READ: Redflow receives first battery stacks from new Thai factory

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.

Once fully operational, the manufacturing line should be able to manufacture up to 250 complete batteries a month.

Redflow’s progressive commissioning of production from its Thai factory is part of the company’s strategic move to build high-quality zinc-bromine flow batteries closer to proven markets.

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Tue, 13 Mar 2018 16:02:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193038/redflows-first-batch-of-zinc-bromine-flow-batteries-ready-for-customers-193038.html
<![CDATA[News - Redflow receives first battery stacks from new Thai factory ]]> http://www.proactiveinvestors.com.au/companies/news/191267/redflow-receives-first-battery-stacks-from-new-thai-factory-191267.html Redflow Ltd (ASX:RFX) has received in Australia the first battery electrode stacks made at its new Thailand facility for use in zinc-bromine flow batteries.

The battery stack is a critical part of the Redflow ZBM2, containing electrodes that charge the battery by ‘plating’ zinc on a membrane and then discharge it by reversing that process.

This process can sustain 10 kilowatt-hours of energy storage capacity for the battery’s operating life.

Stationary energy storage uses

Redflow’s zinc-bromine flow batteries are designed for stationary energy storage applications in residential as well as industrial and commercial settings.

At Redflow’s Brisbane headquarters, the battery stacks will be installed on ZBM2 battery tank sets manufactured last year at the former factory in North America.

The complete batteries will then be tested and supplied to customers to meet existing orders.

As stacks for the circa 200 tank sets are manufactured, Redflow will progressively validate high-quality components and sub-assemblies at its factory.

Full production in Thailand by June

The company aims to produce fully tested new batteries ‘end-to-end’ on the Thai production line by June this year.

Once fully operational, the manufacturing line should be able to manufacture up to 250 complete batteries a month.

Progressive commissioning of production from the Thai factory is the latest step in a strategic redirection that aims to build high-quality zinc-bromine flow batteries closer to proven markets.

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Wed, 07 Feb 2018 15:07:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191267/redflow-receives-first-battery-stacks-from-new-thai-factory-191267.html
<![CDATA[News - Redflow Ltd to begin installation of advanced energy storage system ]]> http://www.proactiveinvestors.com.au/companies/news/166044/redflow-ltd-to-begin-installation-of-advanced-energy-storage-system-71070.html Redflow Ltd (ASX:RFX) is on track to begin installation of its ZCell energy system, after the first shipment of ZBM2 batteries arrived in Australia yesterday.

ZCell is an energy storage system built by Redflow using ZBM2, the world’s smallest production zinc-bromide hybrid flow battery.

The ZCell system can deliver 10 kilowatt hours of stored energy each day, harvesting energy from solar panels or lower-cost off-peak power.

Installing ZCell with a suitable inverter as part of an energy management system can lower power costs and provide resilience during grid power cuts.

Redflow expect ZCell installations for Australian customers to commence from early October, following customs clearance, inspection and installation of batteries into ZCell enclosures.

Additionally, Redflow has ordered the dispatch of new ZBM2 batteries for a variety of other applications as they clear factory testing.

The company will ship these batteries to fill system integrator orders from South Africa, the Middle East and Europe, as well as commercial and residential system integrators in Australia.

Redflow will soon release details of the first group of Australian companies approved to install ZCell energy systems.

These companies will be able to provide ZCell proposals for retail customers and install ZCell-based energy systems around Australia.

The product demand for ZCell in Australia is expected to exceed available product supply for at least the remainder of this calendar year.

Redflow had a cash balance of $12.4 million as at 30 June 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 19 Sep 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/166044/redflow-ltd-to-begin-installation-of-advanced-energy-storage-system-71070.html
<![CDATA[News - Redflow's heavily oversubscribed placement to fund residential product ]]> http://www.proactiveinvestors.com.au/companies/news/161732/redflows-heavily-oversubscribed-placement-to-fund-residential-product-67198.html Redflow Limited (ASX:RFX) has received strong support from investors and the board in a capital raising which will fund a new residential product offering, which will be launched next month with deliveries expected from June 2016.

Redflow has developed the world's smallest, most advanced flow battery, which is cost effective, while being a safe energy utilisation and storage solution.

The company is now in a transition phase to commercialise its flow battery technology.

The raising will support technical and product development, product launch and marketing and establishing the commercial arrangements required by the business model including channels to market, training, installation and product support.

The product will add further depth to the Redflow product range, and could potentially open a whole new market and revenue stream.

Redflow is building a deployment channel strategy for Australia, with Europe the next likely market.


Capital raising

Redflow has completed a heavily oversubscribed placement at $0.23 to raise $7.36 million, and is now undertaking a fully underwritten entitlement offer to raise $5.56 million.

The placement received very strong support from the board, and includes a $1.5 million to interests associated with Simon Hackett, executive chairman, which is subject to shareholder approval in early April.


Details of the entitlement offer

The entitlement offer consists of a fully-underwritten pro-rata non-renounceable entitlement offer of 1 new share for every 15 shares held, priced at $0.23 per new share.

Under the offer, 24,185,028 new shares will be issued.


Redflow's near term key objectives

Residential product launch:

The Australian launch of Redflow's residential product in March 2016 with deliveries expected from June 2016.

Leveraging the residential product launch into core markets:

A continued focus on core markets of telecommunications and grid scale storage solutions with the aim of leveraging off the residential product launch and associated increased awareness of the product benefits and acceptance.

Full outsourcing of manufacturing to Flextronics:

The completion of the transition of electrode manufacturing to Flextronics and recommencement of production of completed products in April/May 2016.

Continuing focus on cost reduction in manufacturing:

- A program of cost reductions has commenced with Flextronics; and
- In addition, Redflow has a program of work to continue progress made in reducing the bill of material costs.

Continued ongoing product development:

- Optimisation of current technology expected to result in further reductions in cost per kWh in conjunction with ongoing next generation developments; and
- Developments focused on a combination of improved performance, lower cost and ease of manufacturability.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 25 Feb 2016 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161732/redflows-heavily-oversubscribed-placement-to-fund-residential-product-67198.html
<![CDATA[News - RedFlow Limited to outline capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/161731/redflow-limited-to-outline-capital-raising-67142.html RedFlow Limited (ASX:RFX) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The raising will comprise both a placement and an entitlement offer.

The halt will remain in place until the opening of trade on Thursday 25th February 2016, or earlier if an announcement is made to the market.

RedFlow has a very unique business strategy which is currently in a transition phase to commercialise its flow battery technology.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 23 Feb 2016 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161731/redflow-limited-to-outline-capital-raising-67142.html
<![CDATA[News - Redflow shares power up to 12-month highs ]]> http://www.proactiveinvestors.com.au/companies/news/161730/redflow-shares-power-up-to-12-month-highs-67038.html Redflow's (ASX:RFX) shares continued their recent rally yesterday, adding another 13.6% to close at $0.335.

So far for the month of February, shares have rallied around 70%.

Redflow has a very unique business strategy which is currently in a transition phase to commercialise its flow battery technology.

The company has developed the world's smallest, most advanced flow battery, which is cost effective, while being a safe energy utilisation and storage solution.

With further proliferation of its technology into commercial and residential applications, this would deliver significant commercial benefits.

Redflow's biggest shareholder is Simon Hackett with 13.4%, who brings immense technological and corporate experience.

Hackett founded Internode, is a director of NBN Co, and a former director of iiNet.

The company is well-funded with around $6.2 million at the end of 2015, which includes a recent R&D tax refund.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 16 Feb 2016 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161730/redflow-shares-power-up-to-12-month-highs-67038.html
<![CDATA[News - Redflow positioned to monetise flow battery technology ]]> http://www.proactiveinvestors.com.au/companies/news/161729/redflow-positioned-to-monetise-flow-battery-technology-66990.html Redflow Limited (ASX:RFX) has a very unique business strategy which is currently in a transition phase to commercialise its flow battery technology.

Redflow has developed the world's smallest, most advanced flow battery, which is cost effective, while being a safe energy utilisation and storage solution.

The technology has been proven with over 10 years and $50 million of research and development, and is positioned to tap a rapidly growing global energy storage market.

Cost per kWh reduced by over 50% in 2015, with further reductions expected in 2016.

The company recently moved manufacturing to Tier 1 global manufacturer - Flextronics (NASDAQ:FLEX), a supply chain solutions provider operating in more than 100 manufacturing plants in 30 countries.

Flextronics can deliver Redflow volume manufacture, and is capable of high scale production to a world market.

Redflow is now moving to a position where the production ramp-up can begin.


Key applications for Redflow's batteries

The market for Redflow's flow battery continues to expand, as the technology has many universal applications.

Including:

- Telecommunication applications, including mobile phone towers in remote and rural areas without robust electricity grids.
- Off grid applications for cost effective energy storage, both in the commercial and residential markets.
- Reducing the need and costs of diesel generators in remote areas to improve reliability.
- Better control of energy storage and distribution during peak consumption times.
- Reduces the impact of peak demand, delaying the need for expensive equipment upgrades.


Key commercial markets

It is estimated there are five million cell towers globally, with a significant number in bad or poor grid environments and/or use diesel generators as back-ups.

As an example, in India, telecom tower sites consumed an estimated 3.2 billion litres of diesel in 2011.

In Africa, more than 50% of towers are off-grid and the remainder rely on unreliable grid power.

Redflow's batteries offer: Reduced diesel consumption; No need for air conditioning; No need for constant site maintenance; Lower operating expenses; Energy can discharge over a longer period of time; and Reduced chance of theft due to unique design.


Successful completion of trials in Africa

Redflow recently successfully completed an end user trial conducted in Africa, supporting the delivery of reliable power in an ‘unreliable energy grid’ environment.

The trial was deployed in conjunction with Specialised Solar Solutions (SSS), a key integration partner working with Redflow in this region.

The end customer has confirmed their intention to move to a full commercial roll out at the trial site, and similar systems are also expected be rolled out at up to a further 7 sites.

The full commercial roll out for this trial site, and the further sites, is expected to require 50 – 150 batteries in total depending on the load requirement at each site.

Other trials are continuing, and expanding, in Asia, Africa, Europe, Central America and Australia.


Continuing small orders for batteries

A commercial order for 12 batteries has been received from SSS for a commercial installation in Africa for a project separate from those mentioned above.

Other smaller commercial product orders also continue to be received by Redflow and are being delivered.


Residential potential

To add further depth to the Redflow product range, the company is developing a residential solutions using its unique flow batteries.

This could potentially open a whole new market and revenue stream, and the key will be demonstrating suitability.

Redflow said that it expects to commence marketing of its entry into the residential energy storage space at the end of March 2016.

Redflow is also building a deployment channel strategy for Australia, with Europe the next likely market.


Analysis

Redflow has positioned itself to monetise its flow battery technology.

With further proliferation of its technology into commercial and residential applications, this would deliver significant commercial benefits.

The company has confirmed the commercial viability of its technology in this space with more than 10 years and $50 million of research and development, in-field testing and demonstration work.

Redflow's biggest shareholder is Simon Hackett with 13.4%, who brings immense technological and corporate experience.

Hackett founded Internode, is a director of NBN Co, and a former director of iiNet.

The company is well-funded with around $6.2 million at the end of 2015, which includes a recent R&D tax refund.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 12 Feb 2016 13:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161729/redflow-positioned-to-monetise-flow-battery-technology-66990.html
<![CDATA[News - RedFlow signs energy storage deal with Ergon Energy ]]> http://www.proactiveinvestors.com.au/companies/news/161728/redflow-signs-energy-storage-deal-with-ergon-energy-66073.html RedFlow (ASX:RFX) has secured important market exposure for its energy storage technology by signing a demonstration agreement with one of Australia’s leading utilities.

The agreement with Ergon Energy will establish an on-grid demonstration of a RedFlow energy storage system integrated with community-scale solar PV.

The system will comprise 48 RedFlow zinc-bromide flow batteries (ZBM) in a containerised large-scale battery solution (LSB) producing 100kW and 480kWh of energy matched to an ABB PCS100 inverter.

The complete system has already been built and tested by RedFlow and delivery to Ergon and is expected within the next few weeks.

Ergon supplies electricity to over 733,000 customers across a vast operating area of over 1 million square kilometres, which is about 97% of the state of Queensland.

This extends from the expanding coastal and rural population centres to the remote communities of outback Queensland and the Torres Strait.


About zinc-bromide flow batteries

RedFlow’s ZBMs provide high energy density at 8kWh -11kWh and have a small footprint and represent the foundation of the company’s product range.

The batteries boast a robust and versatile design that is ideal for storing and shifting renewable energy, managing peak grid load and supporting off-grid power systems and telecommunications.

Contrary to the bulky vanadium storage products that use large tanks, ZBMs are small compact modular units measuring 33 inches by 32 inches by 16 inches that can deliver 10 kilowatt hour day in and day out each and every day.

Although RedFlow IP was developed in Australia, the company’s flow batteries are available globally through manufacturing partner Flextronics (NASDAQ:FLEX), a California-based manufacturing and supply chain solutions provider operating in more than 100 manufacturing plants in 30 countries.

This collaboration has resulted in ZBMs becoming the first flow battery globally to enter large scale production.


Analysis

The agreement with Ergon will allow RedFlow to demonstrate its market leading flow battery technology by providing high-density energy storage solution with a small footprint.

Further proliferation of RedFlow technology is underpinned by the rapidly growing global energy storage market, which will support early movers such as RedFlow with immediate commercial benefits.

The company has confirmed the commercial viability of its technology in this space with more than 10 years and $50 million of research and development, in-field testing and demonstration work.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 09 Dec 2015 10:19:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161728/redflow-signs-energy-storage-deal-with-ergon-energy-66073.html
<![CDATA[News - Redflow's monetising the global shift to solar and storage, broker ]]> http://www.proactiveinvestors.com.au/companies/news/161727/redflows-monetising-the-global-shift-to-solar-and-storage-broker-66029.html Global investment bank Canaccord Genuity says Redflow (ASX:RFX) has a highly competitive and cost-effective battery for the fast-growing energy storage industry.

The broker suggests a 12–18mth price target in the range of A$0.41 – A$0.85. Redflow last traded at $0.22 before the report was published.

The following is an extract from the report.


Monetising the global shift to solar and storage


Strong leverage to the storage thematic

Redflow has developed a cost-effective battery for the fast-growing electricity storage industry.

While lithium-ion batteries are the higher profile battery type in the sector, other battery technologies such as Redflow’s ‘zinc-bromine flow battery’ are highly competitive for some major applications, providing strong leverage to the storage thematic.


Solar and storage forecast to grow ten-fold within four years

- Continued growth of solar is now due to lower costs, not subsidies. As incentives expire, consumers will want storage rather than providing cheap electricity to utilities.

- Solar and wind energy is ramping up globally, and the fact that these energy sources are intermittent increases the requirement for storage.

- Cost reductions for batteries are expected to follow a similar path to photovoltaics, which have seen 50% cost reductions over the last 5 years, and 75% over 10 years.

- Solar + storage can already be cost competitive with grid power, and stands to be seriously disruptive.

- The global market for grid-connected residential solar + storage is predicted to grow tenfold, to more than 900MW by 2018, up from just 90MW in 2014.


Redflow positioned for key storage markets

- RFX’s zinc-bromine battery of 10kWh capacity is bulkier and heavier than lithium-ion batteries of the same capacity making it competitive for stationary applications such as home storage and mobile phone towers.

- If Redflow can capture just 5% of the Australian market for residential energy storage, this would translate to 10,000 units per annum within 3-5 years, representing annual revenues of $50-60m. The global opportunity is even bigger.

- There are about 5m mobile phone towers globally. At least 2m are located off-grid or in locations with unreliable power. While this is just one commercial application, it is a key market segment targeted by Redflow. Even 5% market share represents 100,000 towers, needing on average two batteries (20kWh), driving a revenue opportunity of over $1 billion.


Significant revenue opportunities

It is due to these significant revenue opportunities that we are presenting Redflow as a Canaccord Colt, with the goal to transition to institutional coverage in the coming 12-18months as the strategy de-risks.

We regard Redflow as very well placed to drive strong revenues during this immediate growth phase, with scenario analysis suggesting a 12–18mth price target in the range of A$0.41 – A$0.85.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 08 Dec 2015 08:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161727/redflows-monetising-the-global-shift-to-solar-and-storage-broker-66029.html
<![CDATA[News - Redflow anticipates $1.8M refund ]]> http://www.proactiveinvestors.com.au/companies/news/161726/redflow-anticipates-18m-refund-65851.html Leading flow battery company RedFlow (ASX:RFX) is expecting to receive a tax refund of about A$1.8 million in either December 2015 or January 2016.

This comes after the company completed and submitted its tax return for the period ending June 30, 2015.

The new funds will support the company as it consolidates its new technologies expertise with the appointment of non-executive chairman Simon Hackett as executive chairman.

The appointment, effective from November 1, reflects Hackett’s increasing involvement in the company as it develops and commercialises a range of innovative battery storage solutions.

The company has recently poised its first grid-scale storage battery for commercial use this year as plans to release residential-use products shape up for early 2016.

The foundation of RedFlow’s product range is the zinc-bromide battery (ZBM) which thrives in hot, humid climates and is fully recyclable being made from plastic.

ZBMs boast a robust and versatile design that is ideal for storing and shifting renewable energy, managing peak grid load and supporting off-grid power systems and telecommunications.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 27 Nov 2015 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161726/redflow-anticipates-18m-refund-65851.html
<![CDATA[News - RedFlow names Simon Hackett executive chairman ]]> http://www.proactiveinvestors.com.au/companies/news/161725/redflow-names-simon-hackett-executive-chairman-65224.html RedFlow Limited (ASX:RFX) has consolidated its new technologies expertise with the appointment of non-executive chairman Simon Hackett as executive chairman.

The appointment, effective from November 1, reflects Hackett’s increasing involvement in the company as it develops and commercialises a range of innovative battery storage solutions.

RedFlow deputy chairman Howard Stack commented:

“His experience in taking new technologies to market is invaluable, and the board believes that his enhanced role as executive chairman will greatly assist RedFlow in successfully bringing its energy storage product range to market.”

The company has recently poised its first grid-scale storage battery for commercial use this year as plans to release residential-use products shape up for early 2016.

The foundation of RedFlow’s product range is the zinc-bromide battery (ZBM) which thrives in hot, humid climates and is fully recyclable being made from plastic.

ZBMs boast a robust and versatile design that is ideal for storing and shifting renewable energy, managing peak grid load and supporting off-grid power systems and telecommunications.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 22 Oct 2015 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161725/redflow-names-simon-hackett-executive-chairman-65224.html
<![CDATA[News - RedFlow Limited thinks big as grid-scale battery goes to market ]]> http://www.proactiveinvestors.com.au/companies/news/161724/redflow-limited-thinks-big-as-grid-scale-battery-goes-to-market-65003.html RedFlow Limited’s (ASX:RFX) first grid-scale storage battery (comprising 48 modules) is set to be put into commercial use this year, while plans to release residential solutions shape up for early 2016.

Confirmation of the progress comes as the battery company continues successful harsh-environment field trials in Africa, Asia and Central America.

RedFlow CEO Stuart Smith put these advancements in the context of a growing energy storage market during a conference presentation in the US this week.

Smith evoked the much celebrated rise of ‘gigafactories’ to produce lead-acid and lithium-ion batteries for companies such as Tesla Motors (NYSE:TLSA) in an argument that called for a more effective energy storage solution that uses no rare earth materials.

“RedFlow has not only invented this battery, we have successfully commercialised it and are manufacturing it today.” he told delegates at the Future in Review (FiRE) conference in the state of Utah.

“Our flow battery actually enjoys full charging and discharging on a daily basis – something that damages or destroys other types of batteries. It also thrives in hot, humid climates and is fully recyclable being made from plastic!  Even the electrodes, the heart of any battery, are made of plastic.”

The company’s zinc-bromide batteries (ZBMs) provide high energy density at 8kWh -11kWh and have a small footprint.

As the foundation of the RedFlow product range, ZBMs boast a robust and versatile design that is ideal for storing and shifting renewable energy, managing peak grid load and supporting off-grid power systems and telecommunications.

“When flow batteries are mentioned one associates them with large, bulky vanadium storage products with tanks as big as this room.” Smith added.  

“Our core flow battery product is the smallest flow battery in the world – it is a small compact modular unit measuring 33 inches by 32 inches by 16 inches that can deliver 10 kilowatt hour day in and day out each and every day.  This is obviously a significant difference from the past.”

Although RedFlow IP was developed in Australia, the company’s flow batteries are available globally through manufacturing partner Flextronics (NASDAQ:FLEX), a California-based manufacturing and supply chain solutions provider operating in more than 100 manufacturing plants in 30 countries.

This collaboration has resulted in ZBMs becoming the first flow battery globally to enter large scale production.

From an investment perspective, the relevance of this milestone is enhanced by the environmental imperatives worldwide which will drive increased application of the technology.

“With our product, we have a real opportunity to be one of the most disruptive energy storage technologies globally in a segment which is getting bigger on a daily basis and which constructively addresses climate and carbon emission issues facing the entire world.” Smith said.


International sales

The company has already outsourced the majority of its manufacturing to Flextronics but is now outsourcing the full manufacturing of its zinc-bromide batteries (ZBM) to Flextronics to enable scaling of its business.

In addition, new products are being developed to address the residential and small to medium enterprise energy storage sectors.


Analysis

RedFlow products offer exposure to the renewable energy-related sector of energy storage without dependence on supply of rare earths.

The company’s flow battery is made from totally recyclable plastic and charges and discharges 100% of its energy every day no impact on longevity. It also tolerates heat, humidity and harsh conditions better than any other battery.

As the U.S.’ largest manufacturing and supply chain solutions provider, Flextronics represents a credible manufacturing partner.

RedFlow offers investor upside in its potential to be one of the most disruptive energy storage technologies globally in a fast-growing segment.

The company’s IP offer’s marketing diversity by constructively addressing climate and carbon emission issues facing the entire world.

Direct interest from potential customers has led the company to develop new products to address the demand for energy storage systems in the residential and small to medium enterprise sectors.

The first supported deployment of ZBM products into this important market sector will be with inverter/charger products from European inverter manufacturer, Victron Energy, which are electrically approved and widely deployed by system integrators around the world.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 09 Oct 2015 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161724/redflow-limited-thinks-big-as-grid-scale-battery-goes-to-market-65003.html
<![CDATA[News - Redflow inks orders for zinc bromide batteries from Europe, Australia ]]> http://www.proactiveinvestors.com.au/companies/news/161723/redflow-inks-orders-for-zinc-bromide-batteries-from-europe-australia-64197.html Redflow Limited (ASX:RFX) has received orders for its ZBM products from Europe and Australia, with further progressive orders expected.

The company is also outsourcing full manufacturing of its zinc-bromide batteries (ZBM) to Flextronics (NASDAQ:FLEX) to enable scaling of its business.

In addition, new products are being developed to address the residential and small to medium enterprise energy storage sectors.

Adding interest, Redflow has appointed its largest shareholder, Internode founder and non-executive director Simon Hackett as the new chairman with effect from today.

However, the company advised that its expected progression into significant recurrent battery sales volume had not yet occurred.   

As a result, it is no longer in position to support its previous target of achieving operating cash-flow breakeven status by December 2015.

Ongoing field trials of ZBM products are also being conducted in in Africa, South America, Europe, Asia and Australia.

Redflow has also improved on its ZBM2 and ZBM3 electrode lifetime expectations, manufacturing warranty and base pricing as well as appointing Andrew Kempster as its global sales director.

Simon Hackett, chairman, commented:

“The package of new initiatives announced today will combine to allow Redflow to address a much broader market. These initiatives are also great news and offer great benefit to existing and prospective Telco and LSB customers.”

“I look forward to working with the board, with CEO Stuart Smith, and with our entire team to help us to deliver products that are capable and deserving of significant success around the world.”


New manufacturing initiatives

While the majority of manufacturing of its ZBM products have already being outsourced to Flextronics, electrodes are still being manufactured in Brisbane.

The company is now moving to fully outsource manufacturing to Flextronics in order to maximise the scalability of its production process.

This includes the transition to the use of its latest electrode surface coating, ACN13, which in-house testing has demonstrated substantial improvement in physical operating characteristics and projected lifetime.

Production of fully outsourced ACN13 batteries will commence at Flextronics in December 2015.

To allow for the full outsourcing to be completed efficiently, and to maximise the benefits of the transition to ACN13, the production rate of ZBM products by Flextronics will be substantially reduced until the full electrode outsourcing process is concluded.

The reduction in production volume during this transition process will deliver substantial operating cost reductions to Redflow. Ongoing operating cost reductions in Brisbane will also be realised once the full outsourcing transition is completed.

Redflow will retain the capability to build ZBM’s in quantities appropriate for research and development purposes.

This ongoing work will drive future cost reductions and energy density increases.

Redflow anticipates having sufficient operating cash reserves for the next 12 months, even with minimal sales over that period.


ZBM Improvements

The company has increased ZBM2 and ZBM3 electrode lifetime expectations, manufacturing warranty as well as reducing base pricing.

This new electrode energy throughput warranty applies for a maximum period of ten years from date of purchase, or until the stated total energy throughput is reached.

Remaining components maintain a one year warranty against manufacturing defects.

Redflow has also reduced pricing of the ZBM2 by 16% to US$7,000 and ZBM3 by 10% to US$8,000.

The nominal Levelised Cost Of Energy for the delivery of energy from ZBM2 and ZBM3 batteries has reduced by over 50% to US$0.20/kWh.


New Product Developments

Direct interest from potential customers has led the company to develop new products to address the demand for energy storage systems in the residential and small to medium enterprise sectors.

The first supported deployment of ZBM products into this important market sector will be with inverter/charger products from European inverter manufacturer, Victron Energy, which are electrically approved and widely deployed by system integrators around the world.

Redflow is currently developing a new Battery Management System (BMS) product to enable ‘plug and play’ inverter integration and management of the ZBM into multiple energy storage systems.

The BMS is a compact unit that will plug in to a string of 1 to 8 Redflow ZBMs. It will feature web based, automated battery string management and performance monitoring.

Development work will be undertaken in Adelaide under the guidance of new chairman Hackett.

The first version of this product is expected to be released in the first calendar quarter of 2016. It will be available to new and existing ZBM customers, and will work with all production versions of the ZBM.


Board Changes and Appointments

The appointment of Hackett as chairman reflects the recognition that the transition to supporting a broader customer base for Redflow products is contingent on the successful execution of a technically advanced and customer-centric delivery strategy.

Hackett has demonstrated his capacity to build business value by taking Internode Pty Ltd from inception in 1991 through to its successful sale to iiNet Limited (ASX:IIN) in 2012 for $105 million.

Howard Stack will remain on the board and will take up the position of deputy chairman.

The new chairman will also review the composition of the company’s board and may bring in additional expertise or adjust it.

Redflow has also appointed Andrew Kempster as its global sales director to lead structuring of new sales channels with system integrators.

This will ensure the company can pursue new opportunities in the residential and SME space from early in 2016, while continuing to work with its global sales team to pursue active leads and trials around the world in the Telco and LSB markets.   


Analysis

Sales of zinc bromide batteries in Europe and Australia reflects the technical and environmental advantages they have over lithium-ion and lead-acid batteries.

Full outsourcing of manufacturing to Flextronics will also maximise scalability as it develops new products to meet demand from the residential and SME energy storage market.

New chairman Simon Hackett will also bring his experience in developing and commercialising disruptive technologies into support the transition to supporting a broader customer base for the company’s products.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong.

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Wed, 26 Aug 2015 11:22:00 +1000 http://www.proactiveinvestors.com.au/companies/news/161723/redflow-inks-orders-for-zinc-bromide-batteries-from-europe-australia-64197.html
<![CDATA[News - Redflow receives upgraded Price Target from broker ]]> http://www.proactiveinvestors.com.au/companies/news/161722/redflow-receives-upgraded-price-target-from-broker-63099.html Redflow (ASX:RFX) has received a Stock Rating of Add from Morgans, with an upgraded price target of A$0.39.

The target is 35% above the last traded price of A$0.29. The following is an extract from the report.


KICK STARTING SALES

RFX’s ZBM is commercial in key applications.

While trials are going well, conversion to revenue is slower than expected, which prompted the recent A$16.1m capital raising.

In the last 12 months RFX has reduced its selling price by 36% to US$44cents per kilowatt hour and we believe it’s well placed to slide down the cost curve at a faster pace than competitors (including the well promoted Tesla Powerwall).

If the ZBM follows the ~20% pa cost reduction that solar experienced, then we believe it has the potential, within a couple of years, to be one of the most economically compelling energy storage products in the market.


Use of the A$16m recently raised

Slower-than-expected sales have led us to reduce our FY16 sales targets by 20% and have led RFX to allocate the majority the recent capital raised to improving sales.

The company has said fifty percent will go towards operating expenses (increasing sales capabilities and covering an additional 12 months of cash burn);

- twenty five percent will go towards demonstration units;
- fifteen percent towards inventory (for faster delivery times); and
- the balance to machinery and offer costs.


Product performance and cost reductions are the key

RFX’s product is competitive in target markets (for example when combined with solar it’s cheaper than diesel and other decentralised generation).

However, the ongoing cost trajectory should see the ZBM become competitive with many other applications within the next 24 months, in our view.

We also note that Tesla’s recent entry into the household energy storage market demonstrates strong consumer interest.

However, we believe the economics for households do not currently work. Importantly, RFX has the potential to outpace Tesla in this market.

Tesla, for example, has committed US$4-5 billion to building its “Gigafactory” but expects this to reduce battery costs by just 30% over a five-year period.

RFX reduced battery costs by 36% in the last year and should comfortably continue to reduce end user costs.


Investment view

The key deliverables for RFX are improving sales in the current target markets and delivering ongoing reductions in the cost per kilowatt hour so as to make mass market adoption a possibility.

Upside and downside risk revolves around these key items.

We are comfortable with management’s ability to deliver so retain our Add recommendation and upgrade our price target to A$0.39.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 24 Jun 2015 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/161722/redflow-receives-upgraded-price-target-from-broker-63099.html
<![CDATA[News - RedFlow Limited recognised for its zinc-bromide battery technology ]]> http://www.proactiveinvestors.com.au/companies/news/161721/redflow-limited-recognised-for-its-zinc-bromide-battery-technology-62737.html RedFlow Limited (ASX:RFX) has been recognised for its innovative zinc-bromide battery technology with its selection as a 2015 FiReStarter company to be featured at the 13th annual Future in Review (FiRe) conference.

A leading technology conference, FiRe features global thought leaders including Elon Musk, Craig Venter, Michael Dell, Vint Cerf, Leroy Hood, Patti Grace Smith, Mark Hurd, Paul Jacobs, and many others.

FiReStarters are selected based on the strength of their innovations and their potential to bring positive change to the world.

They are showcased at an exclusive investor reception at the FiRe conference, in panels throughout the event, and with ongoing relationships introduced and supported by Strategic News Service.

RedFlow’s 5kW continuous/11kWh ZBM module is designed to be integrated into electricity storage systems for a range of stationary applications.

Its characteristics of daily deep charge and discharge capability mean it is ideal for storage and shifting of intermittent renewable energy, managing peak load on the grid as well as supporting off-grid (“island”) power systems.

RedFlow is one of the first companies to install fully operational and functional ZBMs into a range of stationary energy applications.

“We are honoured to be one of only a few technologies selected for such a prestigious event,” managing director Stuart Smith said.

“Our technology has the potential to be truly disruptive in the energy storage market, and with the size of the opportunity already validated we are well placed to capitalise on this.”

Strategic News Service chief executive officer Mark Anderson added:

“Like many others concerned about global warming and the requirements of building out new alternative energy sources, we at FiRe have recognized the dramatic requirement for grid-scale batteries.

“These will have unique characteristics suited to the maintenance, cost, and performance associated with mammoth scale. 

“We are delighted to present RedFlow as one of our FiReStarter companies this year, with a solution for this problem that can help the planet with this critical project.”
   
Future in Review is a world leader in exploring how technology drives the world economy and in using technology to solve major social challenges.

It will take place from 6th October to 9th October 2015, at the Stein Eriksen Lodge Deer Valley in Park City, Utah.


ZBM advantages

RedFlow’s ZBM batteries are available now and that they offer substantial technical and environmental advantages over Lithium-ion and Lead-Acid batteries especially when paired with renewable energy sources.

Its 48V DC modules are also easily and rapidly integrated into Telco and off-grid DC based micro-grid applications.

A key differentiator of RedFlow’s ZBM is its capability to operate as a daily full-discharge, full-power workhorse that thrives upon being fully cycled each day.

The maintenance-free lifetime energy throughput of a flow battery is insensitive to variations in daily cycle depth.

In contrast, conventional Lithium-ion and Lead-Acid batteries are highly sensitive to discharge depth.

The overall lifetime of traditional batteries is also a complex function of the depth of discharge that is engaged by the energy application. A large proportion of their battery capacity must be reserved simply to ensure an adequate operating lifetime.

Further, these traditional cell types are temperature sensitive, requiring complex thermal control mechanisms and risking damage due to overheating or thermal runaway should the control mechanisms fail or the environmental conditions become unexpectedly worse.

In contrast, RedFlow’s ZBM flow battery offers unique technical and robustness advantages:

- Operating in harsh environmental conditions, including running in ambient temperatures up to 50 degrees celsius without external cooling systems;
- Intrinsically safe, as their internal chemistry is naturally fire-retardant;
- ‘Smart’ batteries that self-protect when required. They cannot be overcharged;
- Can be charged and disconnected for extended periods, maintaining a 100% state of charge indefinitely, ready for later use;
- Can also be fully discharged and disconnected for storage purposes with no battery condition damage or degradation. By contrast, long-term storage of traditional batteries without an ongoing energy “trickle charge” input will render them into a ‘brick’;
- The internal modular construction of the RedFlow ZBM, based on a separation of electrode, electrolyte and control systems and constructed without rare-earth metals, produces a battery that can be recycled cost effectively and in an environmentally friendly manner. The RedFlow ZBM is also capable of in-field renewal to full operating capacity in the future via an electrode ‘stack swap’.

The RedFlow LSB assembles and integrates up to 60 RedFlow ZBM batteries into an intrinsically safe, high availability, grid-scale energy storage and delivery system with a capacity of up to 660 kWh per energy delivery cycle.

Any number of LSBs can be deployed together in order to scale energy storage and delivery to any required grid-scale requirement.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 04 Jun 2015 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/161721/redflow-limited-recognised-for-its-zinc-bromide-battery-technology-62737.html
<![CDATA[News - RedFlow raises $16M with large investor appetite ]]> http://www.proactiveinvestors.com.au/companies/news/161720/redflow-raises-16m-with-large-investor-appetite-61959.html RedFlow (ASX:RFX) has received strong shareholder support in receiving $7 million in subscriptions in its pro-rata non-renounceable entitlement offer.

Valid applications for New Shares totalled approximately $7.07 million resulting in oversubscriptions of approximately $0.7 million.

The raising was priced at $0.20 and also comprised a A$9.7 million placement.

Shares last traded a $0.23, a premium to the offer.

RedFlow produces a unique modular zinc-bromide flow battery which provides cost effective, safe energy utilisation and storage.

Making sales is the company's prime focus for 2015.


Use of funds

- Funding a higher level of inventory;

- Placing demonstration systems of both individual batteries and containerised solutions in selected regions. These demonstration units will be available for immediate sale; and

- Investment in new machinery to facilitate higher volumes and reduce costs through automation of some key processes in manufacturing.


Notable shareholder support

Wotif.com founder Graeme Wood recently became a substantial shareholder, after he invested $3 million in the placement.

Non-executive director of RedFlow and a director of NBN Co, Simon Hackett (and interests associated with him), invested $3.4 million in the placement.


RedFlow sells first large scale energy storage system

Earlier in the year the company sold its first commercial large scale energy storage system to Base64 Pty Ltd.

The system is a 20ft shipping container modified to accommodate 60 ZBM3 battery modules providing up to 300kW and 660kWh of energy with a voltage output between 400V and 800V DC.

Delivery and installation is expected in June 2015.    

This system is well suited to commercial buildings where solar or other renewable energy sources can be integrated with larger scale energy storage.

The design of this commercial system, once completed, will be available to the company’s system integration partners at no charge.   

Base64 Pty Ltd is a company associated with Simon Hackett.

Key benefits of this system are a full DC architecture, easy installation, ability to be interfaced with a range of commercially available inverters and a DC voltage of between 440V and 800V and it is relocatable.

Target applications for this system are larger mini-grid applications, grid support, distributed generation and renewables integration.


Key Catalysts

- Converting trials currently underway in Australasia, Africa, Europe, USA, Central and South America, and the Philippines to firm sales orders;
- Consolidate and focus on current geographic markets and opportunities with no additional regions to be added unless in conjunction with existing system integration partner using existing product;
- Sales team in place in U.S. and Asia Pacific with Europe to commence from 1 April;
- Continuing focus on cost reduction in manufacturing with the sharing of cost savings an incentive for manufacturing partner Flextronics;
- Ongoing product development focused on improved performance, lower cost and ease of manufacturability.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 24 Apr 2015 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/161720/redflow-raises-16m-with-large-investor-appetite-61959.html
<![CDATA[News - Redflow Limited director Simon Hackett increases stake through share placement ]]> http://www.proactiveinvestors.com.au/companies/news/161719/redflow-limited-director-simon-hackett-increases-stake-through-share-placement-61919.html Redflow Limited (ASX:RFX) non-executive director Simon Hackett has increased his indirect interest in the company by 17,222,515 shares through participation in its recent $9.7 million share placement.

The share placement was part of a broader $16.1 million capital raising.

Interests associated with Hackett paid $3.4 million for the shares priced at $0.20 each.

Hackett and his interests now hold 41,218,705 shares. He also has a direct interest in 1,001,709 shares.

He had led a consortium to invest $2.2 million in the company in May 2014.

Redflow is currently undertaking a fully underwritten 1 for 9 non-renounceable entitlement offer to raise $6.4 million.

Proceeds will be used to fund a higher level of inventory, placing demonstration systems of both individual batteries and containerised solutions in selected regions as well as investment in new machinery to facilitate higher volumes and reduce costs.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 22 Apr 2015 17:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/161719/redflow-limited-director-simon-hackett-increases-stake-through-share-placement-61919.html
<![CDATA[News - Redflow's shares continue to rally ]]> http://www.proactiveinvestors.com.au/companies/news/161718/redflows-shares-continue-to-rally-51967.html Redflow's (ASX: RFX) shares have been on the ascendency recently, with the company gaining another 16.7% yesterday to $0.14, on volume of 860,000.

Redflow's value is now more than three times higher the twelve-month’s lows touched in mid-2013.

The company's strategic focus is on cost effective energy storage solutions, which includes batteries, and in particular zinc bromine flow batteries.

The three primary applications for energy storage – electric and hybrid vehicles, distributed energy and utility grid storage – are largely interrelated and are forecast to have a significant economic impact within the next 10 years.

Additional potential users include developing economies, an unstable electricity supply is a major constraint to doing business.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 17 Jan 2014 11:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161718/redflows-shares-continue-to-rally-51967.html
<![CDATA[News - Redflow banks $2.96M research and development tax rebate ]]> http://www.proactiveinvestors.com.au/companies/news/161717/redflow-banks-296m-research-and-development-tax-rebate-48286.html Energy storage solutions provider Redflow (ASX: RFX) has received a $2.96 million payment from the Australian Taxation Office for the Research and Development Tax Incentive.

This is higher than the $2.5 million that it had been expecting.

The company’s ongoing development of its core zinc-bromide flow batteries is continuing with recent improvements resulting in a product that is believed to be suitable for volume manufacture.

It has engaged with contract manufacturers and is in the process of reviewing final proposals from shortlisted manufacturers with a decision expected soon.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong/China.

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Fri, 20 Sep 2013 13:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/161717/redflow-banks-296m-research-and-development-tax-rebate-48286.html
<![CDATA[News - Redflow to develop energy storage systems for telecommunications industry ]]> http://www.proactiveinvestors.com.au/companies/news/161716/redflow-to-develop-energy-storage-systems-for-telecommunications-industry-44885.html Redflow (ASX: RFX) has entered into an initial battery supply agreement with Emerson Network Power Australia to develop a flow battery storage solution for off-grid and micro-grid markets in the Asia Pacific Region.

This initial trial will focus on an application for the telecommunications network industry.

Redflow will combine its experience in zinc-bromide flow batteries for energy storage systems with Emerson’s history and capabilities in power and electronics to produce a modular and scalable energy storage systems.

The company added that most of its battery components were made of plastic, making them ideal for storage applications in the harsh environments that are often found in off-grid locations.

In June, Redflow was notified of a Federal Government clean technology grant for $2.9 million had been approved and an offer received.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong/China.

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Wed, 26 Jun 2013 17:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/161716/redflow-to-develop-energy-storage-systems-for-telecommunications-industry-44885.html
<![CDATA[News - RedFlow bags battery orders from US defence contractor ]]> http://www.proactiveinvestors.com.au/companies/news/161715/redflow-bags-battery-orders-from-us-defence-contractor-37898.html RedFlow (ASX:RFX) has received an initial order for 12 of its zinc-bromide battery modules(ZBMs) from a US conglomerate that is involved in the US defence industry.

The trials with this US conglomerate would involve the delivery of some 50 battery modules in the current financial year.

The 12 units will be supplied before end of this month.

A teaming agreement has been negotiated and is awaiting final internal approval from RedFlow's US partners.

RedFlow is a developer and manufacturer of zinc-bromide flow batteries and the standard 5 kilowatt/10kilowatt-hour zinc bromide battery is designed to be integrated into electricity storage systems for a range of stationary applications.

The ZBM's specific characteristics of daily deep charge and discharge capability make them ideal for storage of intermittent renewable energy, managing peak load on the grid as well as for supporting off-grid power systems.

RedFlow's ZBM battery is currently being evaluated by a number of companies for potential integration into electricity storage systems.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 07 Jan 2013 15:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161715/redflow-bags-battery-orders-from-us-defence-contractor-37898.html
<![CDATA[News - RedFlow shares fly 83% ]]> http://www.proactiveinvestors.com.au/companies/news/161714/redflow-shares-fly-83-34482.html RedFlow’s (ASX: RFX) share price spike of 83% to an intra-day high of A$0.13 last Friday, up from a close of A$0.071 on Tuesday 2 October 2012, has prompted the ASX to issue a price and volume query.

During the period, 2.1 million shares were traded.

RedFlow responded to the ASX saying it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.

However, the company did note it had been in discussions with a number of international companies regarding demonstration trials to help drive future growth in sales of its ZBM batteries, which had previously been disclosed in an earlier announcement.

One negotiation was with a large Europe-based global conglomerate, a non-binding terms sheet had been reached and the next step was to finalise a definitive agreement.

The negotiations are advanced and RedFlow is confident of finalising an agreement soon.

The company has also previously disclosed a second, less advanced, negotiation with a large Asia-based vertically integrated conglomerate, which has already undertaken site visits.

Technical due diligence and commercial discussions are now underway.

Negotiations with a third party, a major U.S.-based corporation, have also previously been announced and are at an advanced stage.

RedFlow said it was too early to release an announcement in relation to the negotiations, but that an announcement would be made once the negotiations were finalised.


Cash position

At the end of the June 2012 quarter RedFlow had A$5.6 million cash in the bank.

The company reported revenue of A$2.64 million for the 2012 financial year, a 48% increase on the previous year.

RedFlow does not expect to have to return to the capital markets in the 2013 financial year and plans to seek to secure strategic investors to continue to strengthen its balance sheet and position in the global market place.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Mon, 15 Oct 2012 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/161714/redflow-shares-fly-83-34482.html