The company produces a unique zinc‐bromide flow battery developed from technology initially pioneered by Exxon.
An initial order has been placed for two batteries to enable SMS to develop a flow battery storage solution for off-grid telecommunication applications in the Philippines.
This is being carried out in conjunction with their customer, Globe Telecom. A field trial will commence in May 2014.
SMS director noted that RedFlow's flow battery offering, which are made predominantly from plastic, are ideal for storage applications in harsh environments and off-grid locations such as some places in the Philippines and surrounding islands.
"RedFlow looks forward to working with SMS and a long, mutually beneficial relationship. On completion of a successful 90 day trial, further orders and a planned roll out program are expected to commence," RedFlow chief executive officer Stuart Smith said.
RedFlow Zinc Bromine Flow Batteries
The ZBM flow battery is a high performance battery that provides high energy density and best performance in deep discharging applications.
It operates at 100% and partial charge and discharge without degradation.
Recent developments have meant that all electrical components on the battery are now DC powered and all components that previously required an auxillary AC power supply have been replaced with DC components.
Flextronics brings its manufacturing expertise to the table, which brings scalability that could help reduce the cost of batteries as well as quality assurance, repeatability and consistency.
It also has a proven track record for successful product introductions for OEM partners.
The initial order and supply agreement with SMS Global Technologies demonstrates the momentum building for RedFlow's its zinc bromine flow batteries.
A successful 90 day trial will in turn lead to further orders and a planned roll out program.
Its technology has already reached a level where commercial manufacture and sales can commence while the agreement with NYSE listed Flextronics, its manufacturing partner, provides scalability, quality assurance, repeatability and consistency to the product.
The energy storage market is rapidly evolving. Lux Research has estimated that of a potential $114 billion energy storage market by 2017, zinc‐bromide flow batteries will have a 19% market share equating to a USD$21 billion market opportunity. Hence the upside potential in RedFlow.
RedFlow has solved and patented the mechanical and electrochemical issues which other flow battery technology companies have all yet to resolve.
RedFlow currently has approximately $4.2m cash on hand and is debt free.
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