Redflow Limited, a publicly-listed Australian company (ASX: RFX), produces small 10kWh zinc-bromine flow batteries that tolerate daily hard work in harsh conditions. Marketed as ZCell and ZBM2, Redflow batteries are designed for high cycle-rate, long time-base stationary energy storage applications in the residential, commercial & industrial and telecommunications 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.
Australian company Redflow is charged up to meet growing demand for robust long-life batteries that enable both homes and businesses to store electricity generated by their solar panels.
A recent report by the Climate Council states that Australia is predicted to become one of the world’s largest markets for battery storage due to its high cost of electricity, the large number of households with solar panels and Australia’s excellent solar resources. The research by Morgan Stanley says that half of surveyed households were interested in solar systems with battery storage on the basis of $10,000 battery systems with a payback of 10 years, creating a market potentially worth $24 billion.
This means Australia is becoming a battery battleground with global giants such as Tesla and Enphase targeting it as an early market for their respective batteries.
Redflow, an Australian Stock Exchange-listed company (ASX:RFX) which has commercialised its innovative flow battery for use by enterprise, business and residential customers, welcomed this global focus on Australia as the sign of a market that is taking off.
Redflow Chairman Simon Hackett said Tesla’s entry into the market in mid 2015 had made the energy storage market “sexy”. “I believe that, in future years, 2015 will be seen as the year that the renewable-energy storage sector hit its inflection point,” he said.
Australian energy storage specialist Redflow has advised the country’s beleaguered mining companies to deploy renewable energy with on-site power storage to cut energy costs at remote mine sites.
As iron ore and coal prices have halved while metals such as copper and aluminium fell to near six-year lows, miners are increasingly looking for ways to maintain their profitability or even viability.
Redflow is an Australian Stock Exchange-listed company (ASX:RFX) that has developed and commercialised innovative Zinc-Bromide Modules (ZBMs) flow batteries that can be used everywhere from individual homes to grid-scale storage applications.
Redflow CEO Stuart Smith said that embracing renewable energy coupled with energy storage could assist miners to drive down the cost of their energy expenditure. “Despite mining’s current decline, Australia will remain a major supplier of coal, iron ore and metals well into the future,” he said.
ASX-listed power storage specialist Redflow Ltd today announces it will deliver its innovative batteries for residential and small business energy storage systems by early 2016.
While still pursuing telco sector opportunities, Redflow is developing a companion Battery Management System (BMS) to simplify installing and managing its batteries at smaller sites.
Development of the BMS will be guided by newly elected Redflow Chairman Simon Hackett, with the first version of this device expected to hit the market early in the first quarter of 2016.
Redflow made these announcements today in a statement to the Australian Stock Exchange that outlined a number of initiatives to address longer than expected sales cycles.
Simon Hackett said the decisions announced today would expand the market segments addressed by Redflow at just the right time. “The residential and SME markets are currently hot sectors for power storage which Redflow is well equipped to supply,” he said.