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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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 (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
Overview of Redflow’s unique zinc-bromine flow battery energy storage technology
Redflow is an Australian company that has developed ZCell and ZBM2, small flow batteries which tolerate daily hard work in harsh conditions. Redflow Limited is a public company listed on the Australian Securities Exchange (ASX: RFX). Redflow’s unique flow batteries are designed for stationary energy storage applications, including its ZCell home battery and its scalable ZBM2 batteries for telecommunications, commercial & industrial and grid-scale deployment. Redflow’s head office and core battery R&D facilities are in Brisbane while its global sales and ZCell residential battery operations, including its deployment lab, are located in Adelaide.
What makes Redflow batteries unique?
Redflow’s zinc-bromine flow batteries possess unique technical attributes that ideally suit them for time-shifting energy on a daily, full-cycle basis as well as providing emergency power supplies in a wide range of climates. Redflow batteries can charge and discharge 100 per cent of their energy capacity each day, avoiding the damage such performance causes traditional battery chemistries. Redflow batteries can also maintain their nominal 10 kilowatt-hour (kWh) storage capacity throughout their operating life – unlike lithium-based and lead-acid batteries which lose energy storage capacity with use. Redflow backs ZBM2 with a 10-year warranty (see full warranty for details).
Redflow batteries can also operate at ambient temperatures as warm as 50 degrees Celsius (122 degrees Fahrenheit) without any external active cooling, provided that sufficient airflow is available for the battery to cool itself. High-temperature operation do not affect the expected battery life. Unlike lithium-based batteries, the flow battery is not at risk of ‘thermal runaway’ – industry jargon for ‘bursting into flames!’ – as the zinc bromide electrolyte is an intrinsically non-flammable material. Also, Redflow batteries are made from materials that are easy to recycle or reuse.
Another Redflow benefit is that its zinc-bromine flow batteries can be left in any state of charge – from full to fully discharged – indefinitely without damage. Please contact Redflow for further details on this option.
How do zinc-bromine flow batteries work?
Redflow’s Australian-developed zinc-bromine flow battery is a type of hybrid flow battery, which contains an electrolyte comprised of a solution of zinc bromide salt dissolved in water. This electrolyte is stored in two tanks, with one tank storing the electrolyte for positive electrode reactions and the other for the negative. Upon the application of an external voltage, when the solution is pumped from the tanks through the battery’s electrode stack, metallic zinc is plated from the electrolyte onto the negative electrode surfaces in the cell stacks. Bromide is converted to bromine at the positive electrode surface and is stored in a safe, liquid phase in the electrolyte tank. On discharge, the reverse process occurs, with the metallic zinc plated on the negative electrodes dissolving in the electrolyte. This makes it available to be plated again at the next charge cycle, in a process that causes no degradation of storage capacity over time. Redflow batteries can be left fully discharged indefinitely without damage and also sustain their nominal energy storage capacity for 10 years.
Where are Redflow batteries made?
Redflow manufactures its ZBM2 zinc-bromine flow batteries at a purpose-designed factory in Thailand, which is operated by long-term manufacturing partner MPTS. The ZCell battery enclosure – which contains a ZBM2 battery in a weatherproof case – is designed and manufactured in Adelaide.
Where can I buy Redflow batteries?
Redflow’s high energy density ZBM2 batteries are sold, installed and maintained by a global network of system integrators https://redflow.com/system-integrators/international-partners/. Redflow’s ZCell batteries are sold by an Australia-wide network of approved installers https://redflow.com/system-integrators/australian-partners/.
Where can I learn more about Redflow?
Redflow website www.redflow.com
ZCell website www.zcell.com
Redflow press releases: https://redflow.com/category/news/
For media assistance, contact John Harris on +61 8 8431 4000 or email firstname.lastname@example.org.
More about Redflow ZBM2 and ZCell customers
Customer case study: (South Africa): Mossel Bay Municipality department goes carbon neutral with Redflow
Customer case study: (South Africa) Bosco Printed Circuits – A ZBM2 case study in complex energy system optimisation
Customer case study: (Adelaide) Hackett house powers through SA blackout
Customer case study: Redflow telco BTS case study from Latin America
Customer case study (Queensland): Queensland family sets ZCell residential record
Customer case study (Victoria): Adrian lives the off-grid dream with ZCell
Customer case study (South Australia): Alan Noble fires up ZCell for bushfire defences
Customer case study (South Australia): Conservation SA showcases ZCell
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