Australia-based zinc-bromine flow battery company Redflow, which has a market cap of nearly US$60 million, has halted stock market trading as it prepares a capital raise.
Flow battery companies CMBlue Energy and Redflow, both of whom have developed solutions using alternatives to vanadium, have struck commercial deals in Austria and the US, respectively.
Redflow has reported a significant rise in revenues from its zinc-bromide flow batteries but the Australian company noted that it expects to remain “cash-flow negative for some time”.
