The Courier-Mail

Redflow hot as it unveils battery plan

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SHARES in Brisbane-based Redflow shot 24 per cent higher yesterday on news it will develop its battery technology for residentia­l and small business customers.

The move will pit it against US giant Tesla which is the market leader in rechargeab­le battery technology for domestic consumptio­n.

Redflow chairman Simon Hackett intends to develop the battery management system at his business incubator, Base 64, in Adelaide. He said the small business and residentia­l markets for power storage were generating interest.

“Redflow has received substantia­l interest from potential customers asking us to enter these market segments,’’ Mr Hackett said.

Redflow shares surged up 4.5 to close at 23¢ yesterday.

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