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.