Courier Mail
Tuesday 14/12/2010 Page: 27
ENERGY storage company RedFlow, which is ploughing funds into raising its production of zinc-bromine battery systems by more than 10 times, makes its sharemarket debut today. The Brisbane-based company is commercialising electricity storage systems and last month raised $17.5 million through a fully underwritten initial public offering of shares priced at $1.00 each.
Its systems range from small to large scale, enabling customers to supplement their electricity supply, including storing power from renewable energy generators such as wind turbines and solar panels. RedFlow says the global energy storage market for grid-connected applications by electricity utilities and for off-grid applications for use in rural locations is expected to grow rapidly in the next 10 years.
RedFlow chief executive Phil Hutchings said the company also has just shipped a 5-kW zinc-bromine battery system to the UK which will be installed this month.
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