RedFlow (ASX:RFX) is progressing its plan of developing a pipeline of sales opportunities and orders for its unique zinc-bromine batteries (ZBM) with the appointment of Mike Robson as its Vice President Sales - Americas.
Robson's track record will be instrumental in developing sales opportunities and partnerships with system integrators for the company.
He has previously being involved in establishing two start up technology companies which he was instrumental in developing before selling his interests.
Robson was also previously Director - Advanced Engineering Solutions in Raytheon Corporation where he has been engaged following the sale of his interests in KTech Corporation, to Raytheon in 2011.
He has agreed that his annual salary will be remunerated by way of equity using VWAP pricing for the relevant period.
The company has also agreed to the appointment of a sales general manager for the Asia Pacific region subject to final agreements being completed.
A presence in Europe is currently being addressed.
Separately, non-executive chairman Howard Stack has further bought 97,000 shares in the company on the market.
He paid a total of $19,320.68 for the shares, or an average of about $0.20 each.
Stack now has a total of 9,779,207 shares.
RedFlow's unique ZBM batteries have made significant progress in the last 18 months, placing it in a good position to focus on completing the transition to volume manufacture by contract manufacturer Flextronics and converting the sales pipeline to firm order
This will enable it to carve out a position in the growing energy storage market, which Lux Research has estimated could be worth a potential $114 billion with zinc bromine batteries expected to have a 19% market share.
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