Storage battery manufacturer Redflow is looking to capitalise on growing investor appetite for the sector with a public offering that aims to raise AUD18.1 And Brett Simon, senior energy storage analyst with GTM Research, said the company faced “an uphill battle” in commercializing its technology. m ( $ 13.7 m ) . The company will use the funds raised to expand its Thailand operation and , if demand requires , increase production from 90 storage batteries by June to 250 by December 2018 . When the offering closes on 15 June , Redflow plans to create " sales , marketing and manufacturing " partnerships to reduce the cost of making its batteries , according to former CEO Simon Hackett .
Storage battery manufacturer Redflow is looking to capitalise on growing investor appetite for the sector with a public offering that aims to raise AUD18.1 m ( $ 13.7 m ) . The company will use the funds raised to expand its Thailand operation and , if demand requires , increase production from 90 storage batteries by June to 250 by December 2018 . When the offering closes on 15 June , Redflow plans to create " sales , marketing and manufacturing " partnerships to reduce the cost of making its batteries , according to former CEO Simon Hackett .