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Australian battery company Redflow Limited (Redflow) today announces leadership changes, including a new Managing Director and CEO and an Independent Non-Executive Chairman, effective immediately, as it prepares to commence manufacturing in Thailand and grow battery sales during the next 12 months.
Appointment of Chief Executive Officer / Managing Director
Redflow’s largest shareholder Simon Hackett – who became acting CEO 12 months ago – has stepped aside from his executive role after completing a year-long mission to refocus, redirect and recapitalise the business. Simon will continue as a non-executive director with special oversight for technology-related matters.
The Redflow Board has promoted Chief Operating Officer, Richard Aird, as CEO to accelerate the company’s new strategic direction announced in May. With more than 20 years’ experience in commercial development and operations, Richard has a thorough understanding of Redflow and its technology from holding various roles with the company since 2009. He has the skills and expertise needed to drive the company as it starts manufacturing batteries in Thailand and implements cost downs in battery production. Discussions regarding terms of engagement to reflect Richard’s new role are well advanced and will be disclosed in accordance with the listing rules when finalised. Continue reading “Redflow restructures leadership team for growth”
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- Open and diverse working culture: Redflow attracts, retains and develops diverse talent and we pride ourselves on providing a support network for diverse backgrounds.
- Work culture: We hire for skills and cultural fit, bringing together people with the right skills to create cultural synergy.
- Work for a growing industry: Energy storage is a growing industry undergoing significant transformation. By joining us at this pivotal time, you can be part of something great.
- We have our head office and research and development centre in Brisbane, Queensland, and our ZCell team in Adelaide, South Australia.
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Strive to maintain our status as innovative market leaders in flow battery technology by investing in research and development and enforcing stringent quality control.
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Redflow Limited has today announced it has established a company in Thailand to manage the production of its zinc-bromine flow batteries in South East Asia. This follows the ASX-listed company’s announcement in May of its decision to move battery manufacturing from North America to South East Asia, to be closer to its most lucrative markets, in Australia, Oceania and southern Africa, and to reduce production costs.
In a statement to the ASX this morning, Redflow reported that it has established Redflow (Thailand) Limited, which is negotiating a lease on premises in a Thai free trade zone. It is also seeking Thai licensing and regulatory approvals. As well as its location, close to Redflow’s supply chain and marketplaces, Thailand offers good manufacturing expertise, competitive logistics, an attractive labour cost and effective tax treatment for international manufacturers within its free trade zone structure.
Redflow CEO Simon Hackett said the final North American production batch of ZBM2 batteries was now in transit to Australia. “I’m pleased to report that our stack manufacturing equipment from North America has arrived in Thailand ahead of schedule,” he said.
Australian battery company Redflow Limited today unveiled an investment package that will raise $14.5 million to target sustainable delivery of its zinc-bromine flow batteries to high demand areas such as telecommunications. Redflow’s capital-raising follows its May announcement of decisions from a strategic review including:
- Prioritising sales to supply proven demand areas including mature telecommunications / industrial / commercial, remote/off-grid power and ‘weak-grid’ market segments
- Transitioning battery production to South East Asia at a more appropriate manufacturing site to leverage proximity to proven markets and reduce supply chain costs
- Implementing a range of key battery cost-down projects to reduce delivered product manufacturing cost by at least 30 per cent over the next 18 months, and
- Targeting sustainable cashflow-positive operations by the end of 2018.
Redflow has provided an Investor Presentation containing details of the outcome of its Strategic Review and consequent activities undertaken or planned by the company, plus its new manufacturing partner, Malaysian-based MPTS, a long-term supplier of a core component of Redflow’s battery stack.
Redflow has announced senior management changes as the company prepares for the first deliveries of ZCell residential flow batteries in Australia. The Redflow board has appointed executive chairman Simon Hackett as acting chief executive officer while fellow board member Richard Aird was named acting chief operating officer, reported ECD (Electrical Comms Data). Read the full story at http://www.ecdonline.com.au/content/business-and-management/news/changes-at-redflow-ahead-of-zcell-deliveries-1428048562.
Australian battery manufacturer Redflow recently announced senior management changes and the company prepares for its first ever deliveries of its residential Z Cell flow batteries within the country reports PV Tech in its Movers & Shakers column. Read story at https://www.pv-tech.org/news/movers-shakers-nevada-puc-exosun-first-solar-schletter-redflow-and-more.
Redflow has appointed experienced technology industry executive Patrick Tapper to its board of directors, just one week before its residential battery launch. With more than 25 years experience in the telecommunications, technology, media, and entertainment industries, Mr. Tapper will hold a non-executive role at Redflow starts its next phase of growth.
Redflow (ASX:RFX) has received strong shareholder support in raising $7 million in an oversubscribed pro-rata non-renounceable entitlement offer. The company accepted some oversubscriptions as the initial plan was to raise $6.4 million. The raising was priced at $0.20 and also comprised a A$9.7 million placement, for a total raise of around $16.7 million. Shares last traded a $0.23, a premium to the offer. Redlow produces a unique modular zinc-bromide flow battery which provides cost effective, safe energy utilisation and storage.. Read more at Proactive Investors