RedT has confirmed that Avalon chief executive Larry Zulch will lead the combined entity should its proposed merger complete, with Scott McGregor set to depart at the end of the year.
Vanadium producer Bushveld Minerals has offered its backing to the merger of UK energy storage provider redT with US vanadium redox flow battery maker Avalon Battery, providing a loan to help the deal get over the line – and to help its own vertical integration ambitions.
Vanadium flow machine specialist redT has trimmed its losses in the first half of 2019, and said it expects further developments related to its planned merger with Avalon in the near future.
Flow battery maker Avalon has initiated a novel business model aimed at lowering the cost of deployment of its energy storage units, effectively ‘renting’ the electrolytes in the devices to a customer in California.
