Redflow

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About Redflow

Redflow Limited, a publicly-listed Australian company (ASX: RFX), produces small 10kWh zinc-bromine flow batteries that tolerate daily hard work in harsh conditions. Redflow batteries are designed for high cycle-rate, long time-base stationary energy storage applications in the telecommunications, commercial & industrial and high-end residential sectors, and are scalable from a single battery installation through to grid-scale deployments. Redflow batteries are sold, installed and maintained by an international network of energy system integrators. Redflow’s smart, self-protecting batteries offer unique advantages including secure remote management, 100 per cent daily depth of discharge, tolerance of high ambient temperatures, a simple recycling path, no propensity for thermal runaway and sustained energy delivery throughout their operating life.

www.redflow.com 

 

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Redflow Exchange Chairman and CEO Simon Hackett with ZCellRedflow Executive Chairman and CEO Simon Hackett with ZCellAustralian 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.

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Redflow CEO Simon HackettRedflow CEO Simon HackettAustralian battery company Redflow Limited (ASX:RFX) has praised proposed new regulations that prioritise fire safety for the deployment of lithium-based batteries inside homes. 

Standards Australia has released final draft recommendations that require lithium-ion batteries - which are classified as “fire hazard class 1” - must not be installed inside a domestic dwelling, within a metre of any access or egress area or under any part of a domestic dwelling. There are no current Standards Australia regulations for in-home battery installations.

This draft standard follows Clean Energy Council industry rules issued last year, which state: “Some lithium-based batteries can fail due to internal overheating, in a process known as ‘thermal runaway’. The normal chemical reactions within the battery during charging are exothermic (heat-generating).

“If this heat is not able to dissipate, or the battery is overcharged for a long duration, the rate of chemical reaction can then speed up, which in turn increases the battery temperature further, in an ­increasing cycle until the battery is physically damaged ... Once this happens, there is a risk of fire and/or rupture of the battery, with emission of toxic material.”

Redflow CEO Simon Hackett said the safety-first principle should be a priority for the rapidly growing energy storage industry. “While manufacturers say modern lithium-based batteries are designed not to overheat, it only takes one poorly designed or deployed battery to catch fire at night to cost lives,” he said.

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Redflow CEO Simon Hackett with Redflow LSBRedflow CEO Simon Hackett with LSBRedflow CEO Simon Hackett has commended today's announcement that the South Australian Government has awarded a contract to deploy a 129 megawatt hour (MWh) battery farm to help solve the State’s power problems.

Mr Hackett said the ambitious Tesla project demonstrated the growing maturity of energy storage systems. “We believe that batteries have an integral role to play in the successful exploitation of renewable energy sources,” he said.

"Elon Musk’s promise to deploy 129 MWh of batteries for SA in 100 days is a big challenge, even for a US$50 billion company like Tesla. As a far smaller company, Redflow is not yet configured to produce that volume of batteries in that timeframe, so we will continue delivering our ZBM2 and ZCell batteries to telecom and residential customers in Australia and overseas.

"This is not a competition between Tesla and other battery companies, it's about renewables and energy storage demonstrating their capacity to technically and affordably replace fossil fuels. I look forward to seeing a system of that scale running on the South Australian grid as soon as possible.

"This project sets South Australia up as a world leader in the use of battery storage with renewable energy - a true signpost of the future of the world. I'm thrilled about that. The global energy storage market is huge and essentially it is largely untapped. This project will act as a validation point and an accelerant of change.

"Redflow is well positioned to be a part of the solution in markets appropriate to its technology. Every battery manufacturer is likely to be busy for the foreseeable future, all working to their respective technical strengths.”

More News...

  1. Dutch dairy farm deploys six Redflow batteries (24 May 2017)
  2. Redflow scores A$800,000 battery sale for tropics (08 May 2017)
  3. Redflow applauds SA Govt battery policy (14 March 2017)
  4. Redflow welcomes Tesla’s 100 MWh battery farm pitch (12 March 2017)
  5. Former Santos CEO joins Redflow board (02 March 2017)
  6. Redflow applauds ​​grid approval for Victron inverter (23 February 2017)
  7. Redflow charges into Asian telecom markets (07 February 2017)
  8. Redflow extends battery warranty to 10 years (30 January 2017)
  9. Redflow extends ZCell installer coverage (05 December 2016)
  10. Simon Hackett reveals home battery benefits (30 November 2016)
  11. Battery builders break into two camps says Hackett (02 November 2016)
  12. Conservation SA installs first ZCells for office (21 October 2016)
  13. First ZCells installed at off-grid Willunga property (18 October 2016)
  14. Redflow receives 48-ZCell order from Standard Solar (30 September 2016)
  15. Redflow unveils national ZCell installer coverage (20 September 2016)
  16. Redflow announces new CEO and COO (05 September 2016)
  17. Buy back FITs to start battery boom: Redflow (15 June 2016)
  18. Redflow debuts ZCell at energy storage show (31 May 2016)
  19. Redflow simplifies batteries with new management system (30 May 2016)
  20. Redflow launches ZCell home energy storage system (30 March 2016)