October 25, 2024: Australian zinc-bromine flow battery maker Redflow ceased operations in the country as of October 18, after unsuccessful attempts to find a buyer for the group.

The move was confirmed by administrators Richard Hughes and David Orr from Deloitte, who were appointed last August at the Australian Securities Exchange-listed firm, after Redflow failed to raise enough equity to fund a strategic plan and entered voluntary administration.

Redflow said on August 23 it had formulated a plan to develop a larger scale X10 battery based on its existing stack design, targeted at larger megawatt-hour scale projects.

The group said it had received significant commercial interest in the X10 battery and was proposing a new factory be built and commissioned in Queensland — but its plans needed ‘significant capital’.

In an update issued on October 18, the administrators said they had conducted an assessment of the financial liability of the Redflow Group while trying to seek a sale or recapitalization and trading on a business-as-usual basis.

However, the process did not find a viable deal that would allow the business to continue as a going concern and the administrators are organizing an advertising campaign in a bid to find a potential buyer for Redflow’s intellectual property and assets.

In February last year, Redflow said it would step up its collaboration with partners toward developing new commercial projects in the state of Queensland.

A few months later, Redflow said it would supply a 20MWh flow battery system for a solar-storage microgrid project in northern California.