On 1 August 2012 RedFlow Limited announced that it has completed and lodged the preliminary documentation for the 2012 Research and Development Tax Incentive and that it expected to receive a cash payment of approximately $3.0m before 31 October 2012.
RedFlow is pleased to confirm that today it received a payment of just over $3m from the Australian Taxation Office.
The RedFlow research and development activities continue under the leadership of Dr Alex Winter and are focussed on ensuring that the company remains at the forefront of zinc-bromine technology. RedFlow’s team has worked with the University of Queensland and has delivered a large scale storage system to work alongside their mega-watt solar array. The collaboration with the University of Sydney, announced on 10 August 2012, to develop certain next generation materials and components over the next three years, has commenced.
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