I like these statements from the annual report: The US Inflation...

I like these statements from the annual report:



The US Inflation Reduction Act alone is set to accelerate the US LDES market dramatically, with major financial benefits available for energy storage projects.



By 2030 North America is projected to reach 88 GW/278 GWh' of energy storage and in California alone, an estimated 45-55 GW of LDES is forecast to be required by 2045 to support grid reliability and the State's clean energy transition targets?.  
This level of market demand provides strong foundations for the opportunities that Redflow is currently progressing and executing.



The Australia United States Climate, Critical Minerals, and Clean Energy Transformation Compact, signed in May 2023 affirms the position of climate and clean energy as the third pillar of the Alliance and Redflow is uniquely positioned to benefit from the new clean energy focus.



CEC management have publicly stated they have a specific goal of helping to commercialise proven LDES solutions in the program to achieve 200 - 400 MWh projects in the future.



Mick De Brenni, noted in the announcement of our 4 MWh project;
"Redflow's zinc-bromine batteries are an important part of the transformation of Queensland's energy and will enable the State to transition to a low carbon energy future".



The Company is primed not only to achieve further commercial success but also to extend its global leadership in the medium-to long-duration energy storage market—a sector poised for explosive growth over the next decade.



As previously communicated to investors, our focus on larger systems within the commercial and industrial sector, along with our dedication to core markets in the



US and Australia, represents a deliberate strategic choice. While this has led to a temporary impact on FY2023 revenue, we maintain strong confidence in the prudence of this decision, as it positions us favourably for the future. Our recently announced projects and the quality of the opportunities in our current pipeline are an initial testament to that decision.



However, we now stand at the most positive point in the company's history, poised to capitalise on the foundations we have diligently built over many years. We are confident that, with the right level of shareholder support, the platform we have established and the market momentum we have created in the last few months, we can play a pivotal role in the global energy transition, drive further commercial success, and ultimately deliver returns for our valued shareholders.


Tim Harris
CEO and Managing Director


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