Australian flow battery company Redflow went into administration after failing to attract enough investment to fund a factory to build its X10 battery at scale. This modular, scalable zinc-bromine flow battery is aimed at MWh-scale projects.
The company said it had a growing customer base and was proposing a new factory in Queensland. It has engaged with a number of state and federal governments and agencies. Significant government support was available, it said, but match funding from the Australian capital markets was not successful.
The directors have thus placed the company and its subsidiaries into voluntary administration, according to an announcement on 23 August. Deloitte Turnaround & Restructuring partners Richard Hughes and David Orr have been appointed as administrators, and will undertake a review and assessment of the business.
