RedFlow (ASX:RFX) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.
Earlier in the month RedFlow sold its first commercial large scale energy storage system to Base64 Pty Ltd, a company associated with major shareholder and director Simon Hackett.
Hackett is a director of NBN Co.
This system is well suited to commercial buildings where solar or other renewable energy sources can be integrated with larger scale energy storage.
The design of this commercial system, once completed, will be available to the company’s system integration partners at no charge.
The halt will remain in place until the opening of trade on Monday 16th March 2015, or earlier if an announcement is made to the market.
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