Australia's Redflow jumps most in 2 years on securing $12 mln supply deal

RedFlow

01/06/2023 02:06

** Shares of Redflow Ltd  RFX.AX  climb as much as 70.3% to
A$0.315, posting their biggest intraday pct gain since March 9,
2021
    ** The battery co will supply battery system in California
for use in a solar and storage project to be funded by the
California Energy Commission 
    ** Expects to receive $12 mln for the 20 megawatt-hour
system
    ** Says practical completion and commissioning of system
expected in Q1 FY25
    ** Shares hit their highest level since March 31 and are on
track to record a second consecutive session of gains
    ** About 2.1 mln shares exchange hands vs the 30-day average
of 245,814 shares 
    ** RFX stock down 14% YTD, as of last close 

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))