Redflow Secures Funding Milestone for Major U.S. Battery Project

Redflow Limited, a global leader in clean energy storage solutions, announced that its zinc-bromine battery technology, selected as the preferred energy storage solution for the Barona Band of Mission Indians' 6.6 MWh LDES project (refer ASX announcement on 2 February 2024), has received formal grant funding approval from the California Energy Commission (CEC).

The CEC has approved funding amounting to approximately A$13.5 million, with matched funding of A$6.1 million contributed by the Barona Tribal Community, resulting in a total project budget of about A$19.6 million.

This approval paves the way for Redflow to engage actively with the Barona Band Project Consortium, which includes Prosper Sustainably, Microgrid Initiatives, and strategic partner Ameresco. Together, they will commence detailed project planning for the deployment of the 6.6 MWh Redflow system, scheduled for implementation in FY26. The consortium's collaboration represents a robust partnership aimed at advancing renewable energy solutions and integrating innovative cleantech solutions into the energy infrastructure of the United States. Specific timelines for project milestones and delivery will be finalized in consultation with the end customer, ensuring alignment with operational needs and regulatory requirements.

Redflow anticipates that revenue on a per kWh basis for this project will align closely with similar initiatives in the US market. Payment milestones are expected to follow a standard pattern observed in comparable US projects.

Tim Harris, CEO and Managing Director of Redflow, noted that the CEC funding approval underscores the commercial viability of Redflow's technology at a large-scale multi-megawatt hour capacity. It also reinforces the growing demand for Redflow's solutions in key markets such as Australia and the United States.

Mark Higgins, Chief Commercial Officer and President North America at Redflow, highlighted the significance of the Barona battery project as Redflow's fourth multi-megawatt hour initiative in California, supported by funding from the California Energy Commission (CEC). This project marks a continuation of the strong partnership established with the CEC since Redflow's first collaboration with Anergia in 2021.

Higgins emphasized that Redflow's proven track record in the California market underscores the reliability and effectiveness of its LDES (Large-scale Energy Storage System) technology. This technology is well-aligned with California's ambitious decarbonization objectives, reflecting the CEC's ongoing confidence in selecting projects that leverage Redflow's advanced energy storage solutions.

By securing funding for the Barona battery project, Redflow not only reinforces its position as a trusted partner in California's renewable energy landscape but also demonstrates its commitment to supporting the state's transition to cleaner energy sources. The project not only highlights Redflow's technological capabilities but also its strategic alignment with regulatory and environmental goals driving the energy sector's evolution in California and beyond.