Australia's Redflow rises on US funding approval for project

RedFlow

25/09/2023 02:13

** Shares of Redflow  RFX.AX  rise as much as 8.2% to
A$0.298, hitting their highest level since Sept 19
    ** Electrical equipment manufacturer says the U.S.
Department of Energy (DoE) approved funding for 34.4
megawatt-hour (MWh) long-duration energy storage (LDES)
microgrid project
    ** Says project will form part of the DOE's $325 mln LDES
programme, which seeks to advance critical clean energy
technologies    
    ** More than 481,000 shares change hands, 2.8x the 30-day
average volume of 171,651 shares
    ** Stock had risen 27.9% this year, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))