Foundations in place to underpin Redflow’s growth

Redflow Limited has released its financial results for 2018-19, a year during which it achieved several milestones and has put in place the foundations to underpin its growth including:

  • manufacturing capabilities proven at volume and optimised to support sales;
  • initial orders delivered;
  • agreements signed with new partners to underpin future growth;
  • raised $8.4 million (before costs) via Entitlement Offer; and
  • enhanced Board and management team to drive commercialisation.

Redflow CEO and Managing Director Tim Harris said: “FY19 was a pivotal year for Redflow, significantly progressing our commercialisation strategy. Having moved our in-house manufacturing capabilities in Thailand the year before, our focus over the past 12 months was to re-engage with customers and partners. While some projects experienced customer delays, we received initial orders from several important projects and are confident that orders will scale in FY20 as we receive follow up orders and expand our customer base.” Continue reading “Foundations in place to underpin Redflow’s growth”

After turnaround year, Redflow aims for growth

Redflow Limited (ASX: RFX) reports it has completed a successful turnaround during 2017-18 and is focussed on growth in the current year.

In a letter to shareholders accompanying the company’s 2017-18 results, Redflow reports that the past year had seen the company successfully set up its wholly owned factory in Thailand, where it now produces its unique zinc-bromine flow batteries.

Chairman Brett Johnson said Redflow’s primary focus was on producing high-quality batteries to meet the commercial and technical requirements of its customers. “Redflow’s priority is to maintain an efficient, high-quality manufacturing facility that, with increasing sales revenue, will progressively improve our gross profit margin,” he said. Continue reading “After turnaround year, Redflow aims for growth”