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Redflow anticipates $1.8M refund

Redflow anticipates $1.8M refund

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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Redflow Ltd Timeline

February 23 2016
February 16 2016

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