Australia's Redflow jumps most in over a year on Gen3 battery release

RedFlow

07/07/2022 04:12

** Electrolyte battery maker Redflow's  RFX.AX  shares rise
as much as 23.1% to A$0.048, on track for best session since
March 9, 2021, if gains hold
    ** Says https://www.asx.com.au/asxpdf/20220707/pdf/45bmxw712kg1px.pdf
 its third generation Gen3 battery has commenced production in
Thailand and is ready for commercial sale
    ** Co has received initial orders for Gen3 batteries with
delivery targeted for August
    ** The Gen3 battery along with co's other products provides
the platform for Redflow to capitalise on the demand for large
scale, medium to long duration energy storage systems, says CEO
Tim Harris 
    ** Stock hits highest level since June 14
    ** More than 3 mln shares have changed hands, compared with
the 30-day average of nearly 2 mln shares 
    ** As of last close, RFX down ~20.4% YTD
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))