The following report is the transcript of a presentation by Redflow Limited Chairman Brett Johnson made to the Redflow Annual General Meeting at 10:30am – Friday 24 November 2017.
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The following report is the transcript of a presentation by Redflow Limited Non-Executive Director Simon Hackett made to the Redflow Annual General Meeting at 10:30am – Friday 24 November 2017.
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In July 2017, Redflow Limited announced a $14.5 million investment package, enabling it to target sustainable delivery of its zinc-bromine flow batteries to high demand areas such as telecommunications.
Download Redflow Limited’s Investor Presentation from July 2017
Equity research│June 7, 2016
We reinstate coverage of RFX following its recent capital raising. We expect RFX to end FY16 with ~A$12.5m of net cash and sales ramping up.
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RFX’s ZBM is commercial in key applications. While trials are going well, conversion to revenue is slower than expected, which prompted the recent A$16.1m capital raising. In the last 12 months RFX has reduced its selling price by 36% to US$44cents per kilowatt hour and we believe it’s well placed to slide down the cost curve at a faster pace than competitors (including the well promoted Tesla Powerwall). If the ZBM follows the ~20% pa cost reduction that solar experienced, then we believe it has the potential, within a couple of years, to be one of the most economically compelling energy storage products in the market.
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Over the last 18 months the revised RFX Board have: 1) improved their battery (it’s now commercial ready); 2) signed up three major System Integrator partners (system developers and distribution channels); 3) completed stage 1 of scalable manufacturing with stage 2 to be completed by December ; and 4) replenished the bank balance (the Board expects RFX to be cash flow positive at the end of CY15). We expect SI’s to test the outsourced product over 3-18 months and gradually begin increasing volumes …
Please click here to read the full analyst research update.