Aussie energy storage firm Redflow soars on approval for US microgrid project

RedFlow

11/02/2024 23:55

** Australian energy storage firm Redflow  RFX.AX  rises as
much as 14.8% to A$0.155, their biggest intraday jump since Jan.
31
    ** Gets notice from California-based renewable energy
microgrid developer Faraday Microgrids
    ** Notice to proceed to manufacture batteries for a
California Energy Commission-funded project in California
    ** Notice gives RFX binding contractual approval to start
manufacturing 15 megawatt-hour (MWh) of energy storage for
project
    ** Says expects total revenue to be recognized in FY2025,
with initial invoicing of about $4.2 mln now underway
    ** RFX down 3.6% this year as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))