raises A$18.1M to grow battery sales
Summary
We’ve also appointed a new Chief Executive Officer, Tim Harris, who has extensive international business experience in the telecommunications sector. Mr Johnson said the board had decided to raise most of the new capital through an entitlement offer to permit existing shareholders to participate in this growth phase for Redflow. We believe we are positioned now to transition from a research & development company into a fully operational manufacturing, sales, marketing and product support organisation.” Redflow remains focussed on selling its ZBM2 and ZCell zinc-bromine flow batteries through an authorised partner network in Australia and internationally to customers for telecommunications, commercial & industrial and high-value and off-grid residential energy storage applications. Redflow Limited, a publicly-listed Australian company (ASX: RFX), produces ZCell and ZBM2, small flow batteries which tolerate daily hard work in harsh conditions. Redflow’s smart, self-protecting batteries offer unique advantages including secure remote management, 100 per cent daily depth of discharge, tolerance of high ambient temperatures, a simple recycling path, no propensity for thermal runaway and sustained energy delivery throughout their operating life.