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RedFlow appoints Simon Hackett as non-executive director

Published: 02:00 09 Oct 2014 AEDT

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RedFlow (ASX:RFX) has appointed Internode founder and NBNCo director Simon Hackett as a non-executive director of the company. 

He will bring his experience in developing and commercialising disruptive technologies with global applications as well as entrepreneurial skills to assist the company as it moves into the commercialisation phase for its zinc-bromide flow batteries.

In May, interests associated with internet entrepreneur Hackett invested $2.2 million at $0.12 in the company at a 9% premium to the last traded price. RedFlow last traded at $0.33.

Hackett will seek appointment as a director at the company’s annual general meeting in November.

In 1991, Hackett founded Internode, which grew to become Australia’s largest privately owned broadband provider by 2011 with annual turnover of more than $180 million.

He sold the company in December 2011 to iiNet (ASX:IIN) and remained as Internode’s managing director until he joined iiNet’s board as a non-executive director in August 2012.

In November 2013, he was appointed as a non-executive director on the board of NBNCo Limited.

RedFlow has completed its prototype large scale energy storage system using zinc-bromide flow batteries that is ready for deployment in the field.

This gives the company a cost competitive large scale and high voltage product that can meet the demands of large scale energy storage from wind and solar as well as a variety of "mini-grid" applications.

The company is well-funded with over $10 million in cash at the end of June 2014.



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