Funding Agreement with Ergon Energy

RedFlow Technologies Ltd (RedFlow) is pleased to announce that it has today entered into a Funding Agreement and Purchase Agreement with Ergon Energy Corporation.

Ergon Energy (Ergon) will be an industry partner with RedFlow’s wholly owned subsidiary RedFlow Pty Ltd in its roll-out of batteries under the Advanced Energy Storage Technologies (’AEST’) project with the Australian Government’s Department of Resources, Energy and Tourism.

Under the AEST project, RedFlow will install thirty energy storage systems at rural sites within Ergon Energy’s electricity distribution network in Queensland. The first ten systems will use conventional lead-acid batteries to allow RedFlow to test its control, communications and inverter components. The remaining twenty systems will use RedFlow’s high performance zinc-bromine batteries.

Ergon energy will contribute A$1.0 million for the thirty systems The first deliveries are scheduled for first quarter 2009.

Chris Winter
CEO RedFlow Technologies Ltd

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