RFX - Redflow Limited

mullokintyre said:

Another DOD contract announcement out this morning, they are coming thick and fast.
Redflow awarded US Dept of Energy funds for 34.4MWh project
Redflow Limited (ASX: RFX), a global leader in clean energy storage, is pleased to announce that the U.S. Department of Energy (DOE) has approved funding for a 34.4 MWh long-duration energy storage (LDES) microgrid project in which Redflow has been named as the battery provider.
The project will form part of the DOE’s US$325m LDES program which seeks to advance critical clean energy technologies, expand the adoption of renewable energy resources, and strengthen America’s energy security.
A link to the DOE announcement can be found here https://www.energy.gov/articles/bid...million-long-duration-energy-storage-projects.
A link to the specific projects under the announcement, including the Children's Hospital Resilient Grid with Energy Storage where Redflow is named as the LDES provider can be found here: https://www.energy.gov/oced/long-du...rations-projectsselections-award-negotiations
The Children’s Hospital Resilient Grid with Energy Storage (CHARGES) project will enable the Valley Children’s Hospital in Madera, California, to replace diesel generators with cleaner, more cost-effective resources at the facility, and provide a roadmap for other hospitals and critical infrastructure throughout the country to implement similar projects. Redflow will collaborate on the system with its project development partner, Faraday Microgrids.
The project is being sponsored, and expected to be co-funded by, the California Energy Commission (CEC). Valley Children’s Hospital in Madera is the only full-service pediatric facility in California’s Central Valley and regularly faces extreme heat conditions, drought, coastal smog, and poor air quality.
The 34.4 MWh long-duration energy storage and solar microgrid will enable the hospital to better serve the region's residents, even during power interruptions. This project also represents an important step toward meeting California's goal of installing 45-55 GW of LDES by 2045 to support grid reliability and its clean energy transition. Redflow CEO and Managing Director Tim Harris said: “Our batteries are ideally suited for daily use in the Central Valley’s extreme heat, and we’re proud to provide the resources the hospital needs to ensure safe, reliable operations. This combination of our technology leadership, Faraday’s trusted microgrid solutions, and the funding provided by the CEC and DOE all assist in transitioning communities to a cleaner, more energy-efficient future.

Might get that share price increase that my last post suggested would not happen.
suppose its better to be wrong on the positve side rather than be wrong with disappointment!
Mick

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Am I alone in seeing an issue with a backup for an hospital replacing diesel generator by a battery system.
So if sxxt happens, the patients in ICU have to pray for long sunny days. Unless you add a generator to charge the batteries? Lol or should we cry?

qldfrog said:

Am I alone in seeing an issue with a backup for an hospital replacing diesel generator by a battery system.
So if sxxt happens, the patients in ICU have to pray for long sunny days. Unless you add a generator to charge the batteries? Lol or should we cry?

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no you are NOT , assuming they will use solar to charge the battery back-ups i can relate the dramas of the three solar arrays i had installed on various properties , inverter durability is a biggie ( more problematic than failed panels 3 dud inverters v. 1 set of replacement panels )

ideally the batteries should supplement the generators , .... but they grow lots of nuts in California , some of them on trees

RFX , after twice hitting an intraday high of .30 , has been pummelled back to .21.
Have put some speccy buys in at 18 , just in case.
It might even get to that May 52 week low of 0.155
Just as an aside, I had a visit from two techs to check on our year old battery installatiom.
they replaced the charcoal "socks" that suck up impurities in the bromine solution.
Two blokes flew from Brisbane, hired a ute, and drove around Vic checking on multiple sites won't be cheap, but fortunately I am not paying for it.
I should have asked them if this sock changing is a yearly maintenance thing.
If it is an annual requirement, its going to cost a lot of money for RFX over the long term.
Will try to find if that is the case.
Mick

mullokintyre said:

RFX , after twice hitting an intraday high of .30 , has been pummelled back to .21.
Have put some speccy buys in at 18 , just in case.
It might even get to that May 52 week low of 0.155
Just as an aside, I had a visit from two techs to check on our year old battery installatiom.
they replaced the charcoal "socks" that suck up impurities in the bromine solution.
Two blokes flew from Brisbane, hired a ute, and drove around Vic checking on multiple sites won't be cheap, but fortunately I am not paying for it.
I should have asked them if this sock changing is a yearly maintenance thing.
If it is an annual requirement, its going to cost a lot of money for RFX over the long term.
Will try to find if that is the case.
Mick

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cheers

a battery is still on my to do list , so far RFX looks more suited than lithium ( possible temperature extremes )

am still checking out the AVL product as well

Redflow awarded 200 kWh long-duration energy storage project with ACCIONA Energía ACCIONA Energía to integrate Redflow’s zinc-bromine flow batteries into front-of-meter grid applications
Redflow Limited (ASX: RFX), a global leader in clean energy storage, announced today that its zinc-bromine battery technology has been chosen for a long-duration energy storage (LDES) project with ACCIONA Energía in Spain.
ACCIONA Energía is a Spanish multinational conglomerate and the world's largest fossilfree utility operating exclusively in renewable technologies.
As at the end of 2022 the company generated revenues of €4.35 billion and had 11.8 gigawatts of installed renewable energy capacity worldwide.
Present in more than 20 countries and with over 30 years of experience the company is committed to the highest environmental, social and corporate governance (ESG) standards.
In Australia, ACCIONA Energía has 1.6 GW of projects installed or under construction and more than 150 employees, making it one of Australia’s largest renewable energy project developers.
The project with ACCIONA Energía will include a 200 kWh pod, supplied by Redflow, and will integrate the company’s technology with front-of-meter grid-participating applications.
Additionally, the project will combine Redflow's zinc-bromine flow batteries with the solar assets at ACCIONA Energía’s Montes Del Cierzo clean energy innovation center in Spain.
If successful, this installment could lead to future utility-scale deployments across ACCIONA Energía’s portfolio of renewable energy projects across 20 countries including Australia, North America and Europe.
Redflow CEO and Managing Director Tim Harris said, “We are delighted to have this opportunity to work with ACCIONA Energía as it seeks to find new ways to bring reliable, safe and sustainable carbon free energy solutions to all of its markets worldwide.
As long duration energy storage becomes core to this goal, ACCIONA Energía is at the forefront of innovative solutions like Redflow’s to meet their customers’ needs, and with ACCIONA’s high global standards, our installment at the Energy Hub will demonstrate our battery’s robust performance and capabilities in utility-scale projects and applications.”

About Redflow Redflow, a publicly listed Australian company (ASX: RFX) with offices in Australia and the US, designs and manufactures long-duration zinc-bromine flow batteries for stationary commercial, industrial, and utility applications.
Redflow batteries are modular, scalable, fire-safe, and capable of 100% depth of discharge. They can also operate in a wide range of environments without supplemental heating or cooling and offer an extended life with minimal degradation over time.
The company’s smart, self-protecting storage technology offers unique advantages, including a hibernation feature, secure remote management, a simple recycling path, and sustained energy delivery throughout its operating life.
Redflow’s energy storage solutions have been in use for more than a decade at more than 250 sites in over 9 countries.
For further information, please visit: www.redflow.com Arantza Ezpeleta ACCIONA Energía Chief Operating Officer said, “Our extensive portfolio of renewable assets will need co-located LDES resources to support the ever-evolving grid.
As part of that evolution, we’re exploring a range of energy storage options, including flow batteries, to support this transition.
Redflow’s technology is one solution that we are eager to see the results of when integrated into our network.” ACCIONA Energía also plans to use Redflow’s technology to demonstrate a hybrid solution that includes LDES solutions and ultracapacitors integrated with solar and wind generation assets, in alignment with their plans to add storage to existing renewables projects at sites around the world, and incorporate storage into other projects currently under development.
This announcement was authorised for release by the Chairman of the Board of Redflow Limited. -- ENDS –

i hold RFX ( deeply underwater)

RFX hit a 52 week low of 14.5 after falling 12% today.
Not a happy chappy.
mick

mullokintyre said:

RFX hit a 52 week low of 14.5 after falling 12% today.
Not a happy chappy.
mick

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haven't been happy ( with RFX ) for a couple of years

This stock really likes to go down, must be close to a decade now of potential being
over shadowed by disappointment, perhaps this year is THE year it all comes good.
~

I think the only way it will ever come good is if Bowen decides that we need to make large scale batteries for storage here in OZ instead of importing everything.
Even then it would require shifting from Thailand to Oz.
But ya never know, Bowen is about as dumb as they get.
Mick

RFX continues to dissappoint.
The Q@ was alarger loss than forecast in the last quarterly, and this loss will continue for some time.

It seemslike so many others, there problesm stem from supply issues and quality control at suppliers.



There is no garantee that this QC issues have been resoved, and despite having an impressive pipeline of work ahead, if they cannot fix the supply issue, they are doomed..

Chart looks forlorn


Mick

Another big battery project potentially approved on california.
The problemm is how are they going actually supply these jobs giving the recent difficulties with supplier QC.
Still i suppose a 20 million potential sale is better than no sales.
Mick

Redflow have had confirmation of its biggest battery installation yet.
15mwh, geez its hardly world shattering, but it will at least generate some sales.
Question is, will they make any profit out of it?
Mick

mullokintyre said:

Redflow have had confirmation of its biggest battery installation yet.
15mwh, geez its hardly world shattering, but it will at least generate some sales.
Question is, will they make any profit out of it?
Mick
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Yes it is strange the Government doesn't encourage them to open a plant here, the zinc bromide battery would suite our remote areas very well I would have thought, it seems a good fit for Australia's remote services.
Plus the Government has to start somewhere, with actually doing something about increasing amnufacturing here, rather than just talking about it.
Redflow is a very small outlay for a huge amount of media milage, I guess they aren't in the know with the decision makers, go figure.
It would seem to me that with the manufacturing plant in Thailand up to speed, to replicate it here on the East coast wouldn't be overly difficult.

sptrawler said:

Yes it is strange the Government doesn't encourage them to open a plant here, the zinc bromide battery would suite our remote areas very well I would have thought, it seems a good fit for Australia's remote services.
Plus the Government has to start somewhere, with actually doing something about increasing amnufacturing here, rather than just talking about it.
Redflow is a very small outlay for a huge amount of media milage, I guess they aren't in the know with the decision makers, go figure.

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The QLD government have given RFX 1.5 mill to investigate the possibility of creating large scale versions of its gen3 Z-cell batteries to be used in storage locations.
But probably more importantly, part of the deal is looking at making these batteries here in OZ.
Part of the press release sent to shareholders

The Queensland Critical Minerals and Battery Technology Fund has allocated to Redflow up to $1.12m for the development and construction of a large-scale zinc-bromine flow battery prototype and a feasibility study for the establishment of a large-scale zinc bromine flow battery manufacturing facility in Queensland .
Redflow Limited (ASX: RFX), a global leader in clean energy storage, announced today that they have been awarded funding from the Queensland Critical Minerals and Battery Technology Fund (QCMBTF). The QCMBTF was created by the Queensland Government to support businesses to assist in economic growth in Queensland, create Queensland based jobs, support private sector investment, and manufacture advanced battery technologies in the state.
The QCMBTF is a $100m facility to support businesses investing in critical minerals and battery supply chain in Queensland. The fund provides two streams of financial assistance:
• grant funding for eligible projects; and
• government equity and/or debt investment up to $30 million for growth-stage businesses looking to scale-up activity. Redflow applied for grant funding in late 2023 to examine the potential to establish a large scale battery manufacturing facility in Queensland to support local and global demand and was successful in being awarded up to $1.12m under the QCMBTF.
The total cost of the project is expected to be around $3.2 million, of which up to $1.12 million will be reimbursed by the grant funding, subject to meeting milestones.

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It's a long way from having a battery manufacturing facility here, but it's a start.
Mick

mullokintyre said:

The QLD government have given RFX 1.5 mill to investigate the possibility of creating large scale versions of its gen3 Z-cell batteries to be used in storage locations.
But probably more importantly, part of the deal is looking at making these batteries here in OZ.
Part of the press release sent to shareholders

It's a long way from having a battery manufacturing facility here, but it's a start.
Mick

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IMO we are in deep $hit if we don't make a battery plant here, talk about critical infrastructure, there will be nothing more critical if we keep on the current trajectory.
I think the flow batteries are the perfect answer for smaller outback towns, the reusability overcomes the transport issues and the ability to be deep cycled reduces the need for extra capacity, add to that their heat tolerance and they seem to tick a lot of boxes in smaller installations.

Redflow awarded first remote grid project by Horizon Power

Redflow to supply energy storage to support Horizon Power’s remote microgrid decarbonisation efforts in regional Western Australia. Redflow Limited (ASX: RFX), a global leader in clean energy storage, is pleased to announce that its safe, scalable, and environmentally sustainable flow batteries have been selected by Horizon Power to supply and install an initial 100 kW / 400 kWh Battery Energy Storage System (BESS) to support their remote community grid network.
Redflow’s energy storage solution will be located at Nullagine in the Pilbara region of Western Australia.
The initial deployment will review how Redflow’s zinc-bromine flow battery operates on Horizon Power’s network with a distinct focus on the temperature resilience of the technology.
Redflow will supply and install two Pod 200 units to provide 400 kWh of storage capacity along with power conditioning equipment and control systems.
Redflow will partner with a WA EPC service provider for the build and commissioning of the BESS.
Deployment is expected late in 2024 subject to concluding customary procurement agreements and final technical approvals.
Funding for the project has been awarded to Horizon Power by ARENA, under the Regional Australia Microgrids Pilot Program, and the Western Australian State Government.
Redflow CEO and Managing Director Tim Harris said he was excited to be playing a part in Horizon Power’s transition to net zero.
“As Australia moves towards its net zero goals, it is vital that the utility networks gain experience with the operation of long-duration energy storage (LDES). Local utilities are developing strategies to determine how they can achieve their net zero targets given their enormous energy storage needs.
This project with Horizon Power represents Redflow’s second project with an Australian utility providing LDES technology

i hold RFX ( deeply underwater)

a mangy , smelly , flea-bitten mutt as afar as i am concerned , but good luck to you if you are still ahead on this ( apart from the management , obviously )

maybe this 'net-zero' narrative means investors will have no money left

another hefty dilution.... is it enough?

Key highlights:
• A 1 for 2 pro rata non-renounceable entitlement offer of new fully paid ordinary shares to raise up to $13.6 million (before costs) if fully subscribed, prioritising existing shareholders
• The offer price of 11.5 cents represents a 21.7% discount to the 15-day VWAP at the close of trading on 12 April 2024
• The Entitlement Offer includes 1 free attaching unlisted option (exercisable at $0.20 and expiring on 15 April 2026) for every 2 New Shares subscribed
• The capital raising structure gives priority to existing shareholders and if shareholders participate for their full entitlement, they will not be diluted
• The purpose of the Entitlement Offer is to raise funding for the delivery of announced projects, key engineering developments, scale up of the Thailand manufacturing facility and conversion of pipeline opportunities.
• The raising will also support continuing discussions with the Queensland Government under its Battery Industry Strategy and with other government agencies for financial and other commercial support
• Shareholding Directors also intend to participate in the raise


... as expected

Dona Ferentes said:

another hefty dilution.... is it enough?

Key highlights:
• A 1 for 2 pro rata non-renounceable entitlement offer of new fully paid ordinary shares to raise up to $13.6 million (before costs) if fully subscribed, prioritising existing shareholders
• The offer price of 11.5 cents represents a 21.7% discount to the 15-day VWAP at the close of trading on 12 April 2024
• The Entitlement Offer includes 1 free attaching unlisted option (exercisable at $0.20 and expiring on 15 April 2026) for every 2 New Shares subscribed
• The capital raising structure gives priority to existing shareholders and if shareholders participate for their full entitlement, they will not be diluted
• The purpose of the Entitlement Offer is to raise funding for the delivery of announced projects, key engineering developments, scale up of the Thailand manufacturing facility and conversion of pipeline opportunities.
• The raising will also support continuing discussions with the Queensland Government under its Battery Industry Strategy and with other government agencies for financial and other commercial support
• Shareholding Directors also intend to participate in the raise

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... as expected

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You can buy them now at 11 cents.
Why would you put out 11.5 cents for the priveledge of getting diluted again?
Spewin!
Mick

mullokintyre said:

You can buy them now at 11 cents.
Why would you put out 11.5 cents for the privelege of getting diluted again?

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now sub 10c .... and a decided lack of enthusiasm for the rights

The recent 1 for 2 pro-rata non-renounceable Entitlement Offer on Tuesday 28 May 2024, raising a total of $3,123,909 (before costs). The Company received acceptances and oversubscriptions from existing shareholders for a total of 27,164,429 new fully paid ordinary shares, being approximately 23% of the total entitlements available for subscription.

In addition, as per the terms of the Entitlement Offer which allocated one Attaching Option for every two New Shares allotted, expiring on 15 April 2026 and exercisable at $0.20 per Option, a total of 13,582,076 options will be issued. Redflow’s cash position as at 30 May 2024 was $11.78m (before costs) with no debt.

Funds from the Entitlement Offer will be used to fund activities associated with announced projects, key engineering developments, scale-up of the Thailand manufacturing facility, conversion of pipeline opportunities and ongoing discussions with government agencies around further non-dilutive funding.

RFX had major announce ment about getting into bed with Stanwell to build a 400mwh battery installation, giving greater impetus to build a battery factory in Queensland.

Mick