A Brisbane green tech company that graduated from the State Government's i.lab business incubator just two years ago, has developed a world-class breakthrough energy storage system that's winning international contracts and doubling its workforce.
(Media-Newswire.com) - A Brisbane green tech company that graduated from the State Government’s i.lab business incubator just two years ago, has developed a world-class breakthrough energy storage system that’s winning international contracts and doubling its workforce.
Treasurer and Minister for Employment and Economic Development Andrew Fraser said RedFlow had developed an environmentally friendly battery that could help take significant pressure of electricity grids worldwide.
“RedFlow has pioneered the cost effective manufacture of a high performance battery that can store both conventional and solar electricity that can be fed back into the electricity grid during peak use periods,” Mr Fraser said.
“This is a great example of a Queensland company that was given an opportunity to turn an idea and into reality through the State Government’s i.lab business incubator.
“Since RedFlow graduated in 2008, it has grown significantly with staff numbers now pushing 40 – and they expect to double that in the next 18 months.
“With international interest starting to translate into export deals, the next few years promise to be an exciting period of growth for the company – they’re set to triple production.
“Since the i.lab program began ten years ago, it’s assisted over 100 start up companies – companies like RedFlow that have benefited enormously from the mentoring and support an environment like i.lab promotes.”
Mr Fraser said zinc-bromine batteries were non-toxic, cheaper and lighter than traditional lead batteries as well as being more reliable and longer lasting.
“RedFlow is now filling orders for customers in New Zealand and has major energy players in Australia also signing up for its technology,” Mr Fraser said.
RedFlow CEO Phil Hutchings said the utility had been trialling a RedFlow unit for the past six months.
“Powerco is grappling with the challenge of providing reliable power to customers at and beyond the fringe of its remote rural network,” he said.
“It seems our technology could hold the answer for them – there’s been enormous interest to the point that Powerco is now installing the system permanently so it can be easily showcased to clients.
“If we look at the potential in the New Zealand market alone – there’s the capacity to supply more than 500 systems across the country over the next few years”
Mr Hutchings said RedFlow’s expanded zinc-bromine factory meant the company boasted one of the largest facilities of its type in the world.
“Other companies may be treading the same path as us but we’re much more advanced – our technology is raising eyebrows and it’s proving to be a winner in the field,” he said.
“We are lifting our profile in the USA, with two RedFlow representatives there now.”
The new factory will allow RedFlow to triple its output to 30 batteries per month.
Mr Fraser said it owes its early beginnings to the energy and enthusiasm of two brothers, Chris and Alex Winter, both engineering graduates from University of Queensland and early stage support from the State Government.
“The company attracted the interest of the State Government early on, with support provided through our Innovation Funds and Queensland Sustainable Energy Innovation Fund,” Mr Fraser said.
“i.lab gave us the business support and mentoring that we needed – we had the ideas but we didn’t have the experience to move into the marketplace,” Mr Hutchings said.
“Without i.lab we wouldn’t have had the all important introduction to senior people in Ergon Energy that has literally changed our future.”
Over the past three years, RedFlow has developed a successful partnership with Queensland regional electricity distributor Ergon Energy – working within an Australian Government Advanced Energy Storage Technologies project which has enabled comprehensive field testing and fine tuning of its technology in 3 locations across Queensland.
“RedFlow is developing a world-class product with the potential to be a ‘game-changer’ for electricity supply,” Ergon Energy’s Group Manager Innovation and Technology Development Glenn Walden said.
“Low cost, efficient and reliable electricity storage is a key part of the smart grid and future energy supply.”
The smart grid is a global concept to develop more intelligent or “smarter” electricity supply utilising advanced communications, energy-efficient smart devices and environmentally-friendly technologies.
The Queensland Government has provided $291,000 in Innovation Funding to RedFlow since 2004.
Media contact: Treasurer’s office – 3224 5982 or 3224 6361
RedFlow contact: CEO Phil Hutchings 3376 0008 or 402 120 531
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