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RFX - REDFLOW LIMITED


tbinvester
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Redflow had developed a unique "flow" storage battery, the only one in the world small enough to be used in a house. It works by sucking zinc out of a zinc bromide solution and laying it down on plastic plates to store energy; the zinc returns to the solution when the energy is used. But it was targeting telecoms companies, which are wary of new things.

 

Hackett thought they should start with the fledgling home storage market, where decisions don't take a couple of years to make, as a stepping stone to the industrial market. He installed a couple at his Adelaide house, and had an epiphany. "I could not work out how to interface it. So I had to solve that problem." Making Redflow's battery "plug and play" easy was right in his wheelhouse. He became chairman, and then CEO. This week, the first shipment of ZCell household batteries arrived in Adelaide. Hackett is convinced home storage will be big.

 

"It feels like the start of the internet boom." At some point in the 1990s, one could talk about the internet at dinner and not be a pariah. Now the same thing is happening with batteries.

Simon Hackett in the AFR

 

Hasn't got the runs on the board, so far. It would be fair to say the boffins in charge prior to SH had little commercial nous.

 

Trying everything: RedFlow Limited is pleased to announce a shareholder promotion under which a $1,000 cash rebate will be available to eligible shareholders who buy and install a ZCell Energy System in Australia before 31 December 2017. This coincides with the first commercial shipment of externally manufactured ZCell ready batteries which arrived in Australia earlier this week.

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Right now, I don't have much use for a battery because the FIT of 40c is still being paid till 2020.

However, once that runs out and excess production is only worth 7 or 8c, I'll do the sums again.

Quite possibly, residents in South Australia may be looking very closely at a ZCell right now..

 

post-20537-1475209999_thumb.png

 

I've been buying RFX.

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"My intention is to integrate the Large Scale Battery with our existing rooftop solar deployment and to time-shift our consumption of grid-sourced energy (recharging the battery overnight and delivering energy into the office during the day).

 

Once a planned expansion of our existing solar deployment is completed, we aim to take the whole office complex* "off the grid," with our existing grid supply becoming the backup energy path rather than the primary one."

 

Simon Hackett in June 2016 - wonder if he got it done before this week's storm?

 

*http://www.base64.com.au/

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RFX now 44c - the ongoing fragility of grid power systems may help drive sales

 

one Eden Valley resident added Tesla batteries last month, and said

a year of "at least monthly" blackouts in his area was a "kick in the bum" and he decided it was time to take charge. "In the country South Australia particularly we get power blackouts with monotonous regularity. I mean it's been particularly bad recently," he said.

 

He added that while he hopes to avoid power bills in the summer, it was the energy stability not the cost that was behind the decision to get the five-kilowatt system installed, offering 10 hours of off-the-grid power. "Economically you probably couldn't say I'll get the money back but it's nice to know you're doing something [for the planet]."

......

James Graham, from solar and battery system installer Standard Solar, has 82 customers in South Australia, and has seen a surge in interest from the state since the storms.

 

"[south Australian customers] have changed their driving force behind the decision as well. Those who were looking for a financial solution from a battery system are now just looking for energy stability," he said.

 

Mr Graham installs Redflow's ZCell batteries, and GCL's lithium-ion 6-kilowatt batteries, which cost between $20,000-$25,000 for a residential household system

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  • 2 weeks later...

Reports of first installations seem to have convinced the Market that it's for real, and we're now on the rebound off a 50% retracement. If current resistance at 50c can be broken with gusto, I get an initial target above 60c. Good enough for another entry.

 

post-20537-1476839180_thumb.png

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slowly charging (up)

 

A technology guru like Alan Noble, Google's chief engineer in Australia, wasn't going to install Redflow batteries at his farm south of Adelaide just because the chief executive, Simon Hackett, was his friend. For Noble, who commutes to Google's Sydney office and hopes to retire to the 100 hectare spread at Willunga near the McLaren Vale wine district, the storage batteries had to meet stiff criteria.

 

First, they had to work well in McLaren Vale's extreme heat - it can hit 50 degrees Celsius in the shed. The lithium ion batteries sold by Tesla, LG Chem and Panasonic can catch fire at high temperatures.

 

Secondly, they had to be able to be completely discharged - the property will mostly be visited on weekends for now - without being damaged and without having to be kept charged by a generator.

 

The Nobles are the company's first residential-scale customers and - like any product launch - the maiden installation wasn't without wrinkles.

 

The batteries were shipped fully discharged, and without their housing. When Noble switched the system on it was winter, and the batteries - sitting on the concrete shed floor, were too cold to charge. Redflow fixed it, and Noble took it in his stride. "I am an engineer and its a new product - you fix the bugs," he says.

 

The lesson, he says, is not to install Redflow batteries without their housing in cold weather, and not to fully discharge them for shipping - standard for lithium ion batteries - because they don't catch fire. Only one corner of the property has grid power, and the cost of wiring the entire property would vastly exceed the cost of the two battery sets - about $40,000.

 

"We wanted the flexibility to build anywhere on the site without having overhead power lines," Mr Noble said. As well, the batteries would give them power when they need it - such as on high bushfire risk days - without having to fire up diesel generators because the power company is rationing or load shedding power.

 

As a top Google engineer, he also wants the property as automated as possible, and Redflow's software can be customised. "The geek in me is looking forward to writing some rules," he said. He wants the system to switch water pumps, sprinklers and any fire defences on and off as needed.

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  • 1 month later...

AGM - so far; selling to mates, and still Flow of Red

 

Further Equity Investment support may be required - Redflow is undertaking a strategic review including future capital requirements

 

and they do talk about VHS vs Beta - would be more encouraged if it was Airbus vs Boeing, or even Ansett vs TAA

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  • 2 months later...

an in-depth Strategic Review is being conducted to maximize the prospects of success for the company. The review is being conducted with the assistance of external professional consultants.

The commonwealth government's R&D tax incentive refund of $2.2million (expected prior to 31 December 2016) was ultimately received on January 6, 2017. The pro-forma cash balance of the company as at 31 December 2016 (including this refund) was approximately $6.1million.

 

Redflow continues to monitor its working capital requirements closely and considers that there is a reasonable basis to believe that it will secure additional funding for its operations should that become appropriate or necessary to support the next stages of the delivery of its products to market.

 

A detailed roadmap for the growth and development of the company (including associated capital requirements) is a key outcome of the Strategic Review being conducted at this time.

 

The company considers that it will be capable of successfully accessing a variety of capital raising mechanisms as required, with the support of the information and plans being developed in the strategic review process.

struggling (+ insiders selling?)
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I just can't see Redflow matching it against the Li-ion elephants

 

Tesla's battery revolution just reached critical mass

https://www.bloomberg.com/news/articles/201...d-critical-mass

 

....batteries have so far only appeared in a handful of true, grid-scale pilot projects.

 

That changes this week.

 

Three massive battery storage plantsÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ÂÂbuilt by Tesla, AES Corp and Altagas - are all officially going live in southern California at about the same time. Any one of these projects would have been the largest battery storage facility ever built. Combined, they amount to 15 percent of the battery storage installed planet-wide last year....

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