Storage battery manufacturer Redflow is looking to capitalise on growing investor appetite for the sector with a share offering that aims to raise AUD18.1 m ($13.7m). The company has raised AUD 1.1bn in funding from investors including Australian pension fund manager Westpac and Chinese investment firm Fosun International, which owns about half of Redflow’s shares. These include the company’s former executive chairman and CEO, millionaire entrepreneur Simon Hackett, who is Redflow’s main investor with a 17.3 percent share of the business. When the offering closes on 15 May, Redflow plans to seek "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 share offering that aims to raise AUD18.1 m ($13.7m). The company has raised AUD 1.1bn in funding from investors including Australian pension fund manager Westpac and Chinese investment firm Fosun International, which owns about half of Redflow’s shares. When the offering closes on 15 May, Redflow plans to seek "sales, marketing and manufacturing" partnerships to reduce the cost of making its batteries, according to former CEO Simon Hackett.