However, those commitments required Redflow to match the government funding on offer, and attempts to raise equity support did not bear fruit, Redflow said last week (23 August).
“In the absence of such support, the Directors believe that Redflow is unable to continue as a going concern and have no option but to place the Redflow Group into voluntary administration,” a statement made to the Australian Securities Exchange (ASX) read.
Redflow headquartered in Brisbane, manufactures a proprietary hybrid flow battery technology based on zinc-bromine liquid electrolyte and zinc plating. This technology is aimed at long-duration energy storage (LDES) applications and has largely been used in off-grid and commercial and industrial (C&I)…
