Had a look at New Technology Capital Group LLC and it seems to...

Had a look at New Technology Capital Group LLC and it seems to be a corporate advisory business, mainly helping with the sale of businesses but also deal making and capital raises. As a sideline and according to its website 'it invests selectively across specific subsectors and companies at earlier stages, trying to bring value beyond the investment banking services. As a shareholder it does not play an active role and does not act at Board level.'
Could only find one other example of an investment similar to the current Redflow proposal and that was in Dec 2020 when it did a deal to invest in the UK based Simec Atlantis Energy. Simec describe themselves as 'developers of sustainable projects' - things like Tidal Stream Turbines, Waste to Energy and Hydropower. The share price of Simec in Dec 2020 was $23 and is now $5.40, but under the terms of New Technology's investment it can purchase Simec shares over 2 or 3 years at discounts to the then market price - so they're probably not too concerned at the share price provided the prospects/ technology of Simec are progressing.
So NTC don't bring any great expertise to Redflow. Rather they provide a flag or foundation around which to conduct the capital raise. The 12 cent conversion price, which only exists for one month, is an example that the NTC involvement is to help sell the issue and raise capital more than anything else.
Now might be a good time to raise capital with the sharemarket looking a bit toppy. Redflow wouldn't want to be trying to raise capital next year when its funds are possibly lower (getting desperate) and the sharemarket possibly wobbly. probably wise to go to the market now and seek more money.