Market for long duration to grow

2022 has been a very busy year for Redflow and one where we have made significant progress against our strategy.

We now have over 280 active deployments spread across nearly 20 countries and we are finishing the year with a pipeline of really exciting opportunities.

2023 promises to be another exciting year for us. The market for long duration energy storage continues to grow as businesses recognize the critical importance of energy storage in meeting climate change targets.

Continuing supply chain pressures, extreme weather events and the Ukraine war will continue to create opportunities for other energy storage technologies.

In Australia the new federal government’s commitments to an accelerated pathway to a renewable future presents an exciting pathway for a proudly Australian developed technology like Redflow. This is supported by various state initiatives, including the Queensland renewable energy target of 70% renewables by 2030.

The focus on domestic supply of renewable energy supply has also accelerated — including the supply of batteries which is a positive shift. In addition, the passing of the transformative Inflation Reduction Act in August in the US will make long duration energy storage projects more viable to the market and customers in the largest energy storage market in the world.

We have built a solid pipeline of well over 1GWh of project opportunities. A number of those projects are multi-MWh in size which follows our strategy of focusing on larger scale systems as well as executing on smaller energy storage solutions for commercial and industrial customers.

Our focus for 2023 will be converting some of the key deals in our pipeline into orders and projects, ramping up our Thailand factory to 80MWh a year as demand increases, extending our set of strategic partners in our key target markets and generating more traction in the market for our proven world leading energy storage technology.

We also will look to build the capabilities — such as UL listing in the US — which will be core to our future success.

Material sourced from public statement by Redflow in December

In 2020 Inbatec and Kustan forged a partnership aimed at blending their special engineering skills in acid circulation and gel mixing in the battery formation process. John Shepherd reports on their progress to date.