Redflow (ASX: RFX) will deploy a large 100 kilowatt hour zinc-bromine flow battery storage solution as part of Haidong Transportation Group’s smart grid project in China’s Qinghai Province.
The deployment follows a collaboration agreement between Redflow and China-based flow battery company ZbestPower Co Ltd.
“Having strengthened our intellectual property protection for the China market and reviewing several partnership opportunities over the past 12 months, we are delighted to have signed a collaboration agreement with ZbestPower,” Redflow chief executive officer Tim Harris said.
“ZbestPower and Redflow will jointly benefit from this collaboration, with the Haidong Transportation Group’s smart grid project a key springboard to develop further projects in China.”
According to Redflow, Qinghai Province is a key market in China’s transition to a low carbon renewable energy future.
The China National Energy Bureau is sponsoring the smart grid project which will comprise a 66KW solar PV parking carport, 18 electric vehicle fast-charging points, 1MWH energy storage system and smart energy management system.
ZbestPower has been charged with managing the entire project, with Redflow and ZbestPower to deploy a large-scale battery storage solution to meet Haidong Transportation Group’s requirements and demonstrate the technical and economic viability of the Redflow system.
Redflow will initially provide 10 ZBM2 zinc-bromine flow batteries for six months from early next month, with this initial deployment to be extended by agreement.
As part of the collaboration, ZbestPower will use Redflow’s system without charge and Redflow will remain the owner and retain all intellectual property.
Additionally, Redflow will assist with site preparation, testing, installation, commissioning, operation, ongoing monitoring, reporting and technical support.
China’s renewable energy future
Mr Harris said China’s energy storage market represented a large opportunity for Redflow.
“The China Energy Storage Alliance has forecast China’s total electrochemical storage capacity will reach nearly 20GW by 2023.”
“With China transitioning to greater use of renewable energy, the China National Development and Reform Commission has called for greater investment in flow batteries that is leading to a surge in projects focused on flow battery solutions,” Mr Harris explained.
Commenting on the collaboration with Redflow, ZbestPower chief executive officer Luke Lu said it would deepen ZbestPower’s understanding of the potential ZBM2 batteries represent to China.
He added that flow battery technology had been identified as a vital part of China’s energy storage future.
This morning’s new pushed Redflow’s share price up 18% to reach $0.046 before midday.