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RedFlow LimitedPresentation
Redflow battery on Flextronics stand at World Smart Energy Week, Japan, February 2015
Redflow – A Leader in Energy Storage
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RedFlow (RFX) is an energy storage company listed on the Australian Securities Exchange (ASX). Thecompany produces a unique modular zinc-bromide flow battery which provides cost effective, safe energyutilisation and storage.
Industry- rapidly growing global energy storage market- key initial markets targeted are early adopters and where there are immediate commercial benefits
including :- telecommunications- off grid, rural and remote sites- residential for the large existing installed solar base
Operational- product proven from field testing performed to date and independent CE certification (product safety) by
an EU nominated body- energy throughput increase driven cost per kWh lower by 36%- manufacturing successfully transitioned to tier 1 global manufacturer - Flextronics
Corporate- experienced board and management- supportive share register- operating overheads currently at $600,000 per month
Key Milestones – Past 12 Months
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Key Targets AchievedPast 12 Months
• Key deliverables outlined previously have been achieved :• Cost per kWh reduced by over 36% with improvements in product performance – from $0.70c/kWh to
$0.44c/kWh• Manufacturing transition completed to Flextronics• Containerized prototype successfully completed on time and budget• CE certification achieved by independent EU nominated body validating product safety• Product improvements, expanding applications and decreasing manufacturing cost achieved and
continuing• Engaged with eight system integration partners across 5 continents
Product offering, marketsand geographies expanded
• Product offering recently expanded to include 3 different products in addition to a large scale high voltagecontainerised solution
• Market applications expanded to now include telco, residential and mini-grid applications such as mining• The large scale containerised solution suits commercial applications, mini and micro grids and larger scale
distributed generation• Price per kWh reduced and fast approaching grid tariffs in some countries increasing market opportunities.• Distribution points in USA (Austin, Texas), Europe (Frankenburg, Austria) and Asia Pacific (Australian
operations). Distribution for Africa currently through 3 system integrators with existing facilities and channelsto market
Manufacturing outsourcedwith improved QA
• Flextronics successfully manufacturing batteries in commercial quantities providing security of supply andconsistent quality.
• Scalable, outsourced manufacturing completed with full turnkey agreement and incentives in place for costreductions.
Partnering businessmodel with key
stakeholders engaged
• Trials and testing underway in Africa, Europe, USA, Central and South America, Philippines and Australasia.• Partnering strategy in place with both large multinational companies with scale, expertise and established
channels to market, including Emerson and Raytheon, and smaller companies including Probe, BlueSky andSMS Global Technologies.
• Ongoing technical development collaboration includes Albemarle, ICL, CSIRO and the Universities of Sydneyand Queensland amongst others.
Next 12 Months
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Sales
• Large global companies engaged who have significant reach and channels to market• Converting trials currently underway in Australasia, Africa, Europe, USA, Central and South America, and the
Philippines to firm sales orders.• Significant sales prospects building with a number of system integrators• Market opportunities significant and will focus on key segments identified• Consolidation and focus on current geographic markets and opportunities with no additional regions to be
added unless in conjunction with existing system integration partner using existing product• Sales team in place in USA and Asia Pacific with Europe to commence from 1 April.
Manufactured cost reduction
• Incentive for Flextronics to reduce manufactured cost through sharing of cost savings they initiate.• Redflow has a program of work to reduce bill of material costs substantially before end of 2015 with further
ongoing reductions expected in 2016
Ongoing productdevelopment
• Developments focused on a combination of improved performance, lower cost and ease of manufacturability• Commercial outcome for all ongoing developments
The RedFlow ZBM Product RangeFully DC self managing battery with in built diagnostics and self protection capability which enables valuable realtime customer monitoring of performance
4 different products delivering differing energy outputs suited to many applications :
ZBM – the original battery delivering 3kW/8kWh at a nominal 48V DC. Energy throughput of 10,000 kWh at $0.70c/kWh
ZBM2 – delivering 5kW/10kWh at a nominal 48V DC. Energy throughput of 20,000 kWh at $0.48c/kWh
ZBM3 – delivering 5kW/11kWh at a nominal 53V DC. Energy throughput of 22,000 kWh at $0.46c/kWh
LSB – a 20ft shipping container with up to 60 ZBM3 batteries delivering 660kWh and an output voltage range of between480V and 720V.
Capital cost per kWh with no scheduled battery maintenance until end of life
High energy density at 33Wh/kg → results in small footprint and light weight
Efficient utilisation of capital with 100% depth of discharge, with daily charging and discharging available
Real 100% capacity available on a daily basis → with no oversizing requirement, less CAPEX required
Charge and discharge over several hours → can be matched to application requirements
Voltages match standard electrical systems and being below 60V is within most safety limits
Round trip efficiency approximately 80% (DC-DC) → good business case
Operates up to 50ºC → no active cooling requirements or shelf-life problems
Modular design allows for sizing that best suits an application and quicker more efficient ongoing product development than largersystems
Scaleable for different applications with higher voltages and capacity
Smart battery so not a target for theft
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Smart battery capable of remotely monitoring thestate of charge, the health of the battery and manyother diagnostic parameters. Capability
Smart system with in-built BMS to monitor performance and health remotely
Hardware monitoring includes
pumps, fans, leak detection, ambient temperature, BMS and overall electrodehealth
Operational parameters monitored includes
current, voltage, electrolyte temperature, state of charge, rate of charge and endof life monitoring
750+ RedFlow ZBMsmanufactured since 2009
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Safety The concentration of bromine salt in ZBMs in the discharged electrolyte state is very low, and only requires standard personal
protective equipment (PPE).
Bromine salts are stable and used as disinfectant in spas and it remains in solution (does not evaporate)
HAZMAT 8 class of the electrolyte relates to the corrosive nature of the liquid (pH of between 1- 4). Lead acid is of the sameHAZMAT 8 class and lithium the HAZMAT 9 class
The only potentially hazardous material in the ZBM is bromine in the electrolyte, which is held in a complexing agent as an oilyliquid (not gas) when in the charged state.
Safe, water based electrolyte - bromine is commonly used as a fire retardant
Heat tolerant and no cooling required up to 50OC. Ambient temperature of approximately 550C tolerated. Leadacid and lithium require active cooling for comparable performance.
Over 10 years of research and over $50 million invested to date on research and development. Products nowavailable for sale in commercial quantities.
Key Attributes
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48V and 200Ah, 220Ah or 240Ah
100% depth of discharge with no limitations
Long shelf life with no trickle charging required
Can be stored in discharged state or charged state with no degradation
Tolerates heat up to 50OC with no impact on longevity
Water based electrolyte inherently safe
All materials are non-flammable so no thermal management issues
CE approved by independent body
Fully integrated BMS
Complete DC solution
Battery Charge & Discharge Characteristics
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Redflow Battery TestModule: 2089 Cycle # 500Stacks Nanocil 33 cells x 2 Start Time 17/09/2014 21:23
Pk Amps Usef Ahr Tot Ahr Voltage Energy (Wh) Time (hr) ResistanceIn 24.8 225.0 225.0 61.2 13776 9.1 0.15Out 24.9 200.8 206.8 53.9 10843 8.1 0.115 Eeta (%) Eenet (%)Avg Temp 29.9 89.3% 91.9% 88.1% 78.7% 0.101 78.7% 70.9%
Lost Ahrs 18.2RBC Ahrs 110
V (volts) IZn (amps) IBr (amps) PTon PToff Pump (Wh)240 0.205 0.166 1 0 1524
Pumps
-80
-60
-40
-20
0
20
40
60
80
0
10
20
30
40
50
60
70
80
0 2 4 6 8 10 12 14 16 18 20
Amps
, deg
C
Volts
Time (hr)
BatVtg
BatCur
BatTemp
Technology Developments
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Redflow batteries have consistently increased energy throughput now resulting in a competitive cost per kWhof energy throughput. Future improvements are in process which will further reduce manufactured cost andfurther increase the amount of energy throughput, as illustrated below.
- ACC1 : 2011-2012 - ACN7 : 2013-2014 (in production)- ACC8 : 2012-2013 - XXX : 2014 (currently under test)
- some long term test batteries are still operating so expected lives have been calculated.- with any design change, physical long term testing of the new/improved product begins again.- hence, expected battery life is calculated by comparing laboratory test results and actual long term test data of
previous versions to laboratory testing of the current version still continuing under test.- there is a risk these correlations may not be precise for certain design and materials changes but we believe they are
reasonable from our experience.
Consistent increase in electrode life results in additionalenergy throughput
Competing Technologies
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Redflow is a new technology – yet it is already cost competitive – before cost reductions are included or commenced
Competing technologies such as lead acid and lithium have had over 20 years of product improvements,manufacturing optimisation and cost reductions
As market incumbents, they already have the benefits of sales and manufacturing volumes and the consequentialeconomy of scale benefits Lead acid batteries in general have several limitations including
a small amount of energy available for use, unable to operate continuously in hot and humid conditions, rapid deterioration if not kept in air conditioned environments requiring a trickle charge when stored and when deployed very heavy to install and replace
Lithium batteries also have some limitations including unable to utilise the full energy stored active cooling required to maintain a temperature of about 25oC – 30oC no components are cost effectively recyclable focussed on power and not energy
The third alternative is zinc bromine flow batteries high energy density weighing only 225kgs – similar to lithium and at least half as lead acid for same energy opportunities for cost reductions and efficiency improvements significant and has commenced full 100% discharge available continuously in harsh conditions and non-volatile intelligent battery, self manages, self protects and informs via remote monitoring
The ZBM has an opportunity to be a truly disruptive technology in a rapidly expanding market
Applications for differing technologies
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RedFlow’s ZBM performance envelopeenergy focussed & not power focussed
- Lithium and lead acid are well suited topower applications
- The ZBM is well suited to energyapplications
Market Opportunities
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The energy storage market is estimated to have a potential of $114 billion by 20171 of which zinc-bromide flow batterieswill have a 19% market share equating to a USD$21 billion opportunity1 while solar integrated storage alone is forecastto be €15 billion by 20202. Relevant applications for the ZBM include :
1. Telecommunications infrastructure – Powering the large number of mobile phone towers already in existence in off-grid,micro grid or fringe-of-grid areas is an attractive relevant market where commercial trials are now in place.
2. Residential applications – with the large installed solar capacity, our DC battery is well suited to the residential marketand we believe uptake is now competitive in some markets with our lower cost per kWh.
3. Renewable integration – Smooth and shift intermittent renewable energy generation, increasing utilisation of renewableenergy sources. The efficient use of solar and wind energy generated can be increased by storing energy for times ofdemand.
4. Remote power opportunities – Powering remote areas not currently connected to the electricity grid from solar and/orwind and reducing the need for expensive diesel generation. This is particularly cost effective for mining operations.
5. Microgrids including community power – with their smaller footprints, they avoid most transmission and distributionlosses as well as eliminate the waste of energy associated with the conversion of AC to DC required for an increasingportion of todays load.
6. Sustainable solutions – sustainable alternative capable of being retrofitted to existing applications where environmentalissues exist.
1 Lux Research2 Boston Consulting Group
Telecommunications
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The telecommunications segment is a priority market.
it is estimated there are an estimated 5 million cell towers worldwide, ofwhich 640,000 are off grid and increasing at a rate of around 50,000 peryear.
the vast majority of these off grid cell tower sites are powered by dieselgenerators and/or may suffer from unreliable grid power and rely onexpensive generators to fill the gaps.
the fuel bill and the logistics cost of resupply is a heavy opex cost fortelecoms companies.
it also contributes to carbon emissions and efficient battery options are seenas important “greening” of telco networks.
in India alone during 2011, telecom tower sites consumed an estimated 3.2billion litres of diesel fuel and at the current rate of expansion that couldreach 6 billion by 2020.
in Africa, more than 50% of towers are off grid and the majority of the restrelying on unreliable grid power. Many African tower sites are in remote andhard to reach locations.
as an example, the cost in Namibia is $8,000 USD per kilometre to run powerfrom the grid. This can make it very cost effective to install alternative energysuch as solar power (and batteries).
Source : AKCess Pro – www.akcp.comItalics added
Telecommunications
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Redflow’s ZBM offers the following benefits to telecommunications customers with off-grid orunreliable grid supply to their base stations:
Reduced fuel consumption; No need for air conditioning to keep batteries in operating range (as with lead acid and
lithium); Wider operating variables (salt, humidity challenges, temperature); Reduced requirement for maintenance, and hence savings; Remote monitoring; and Reduced theft.
Off Grid & Distributed Generation Opportunities
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Another targeted sector is the rural, remote and off grid segment (RROG), including mining. Whether a fewbatteries or in containerised solutions, the ZBM is well suited for distributed generation in general.
Current systems developed for the telecommunications market are also suitable for smaller RROGapplications.
Diesel run time minimisation using a ZBM provides compelling business case. DC output attractive for rural electrification. Heat tolerance, no cooling and unable to be operated if stolen attractive attributes. From single batteries with 48V to multiple batteries joined in series or parallel, we have flexible, scalable
solutions. 20ft shipping container solutions offer up to 660kWh with voltages between 440V – 800V available with
the successful completion of the large scale battery development. A modified 20ft shipping container of batteries is now able to be connected in series and in parallel to a
single inverter allowing efficient supply of DC energy for larger applications in this market segment. Multiple containers can also be connected in parallel providing scaled expansion to suit MW applications.
Partnered with 2 system integrators in Africa with existing channels to market with trials about to commence.
ResidentialWith recent product developments, we are now in a position to offer a residential solution in countries where our cost per kWhis approaching that of the grid tariff. With the high installed solar capacity in Europe and grid tariffs of approximately €0.30, ourpricing is fast approaching these rates excluding any additional benefit from subsidies.
- prototype developed showing how our ZBM can be fitted and paired with existing solar installations- minimal cost to retrofit to already installed solar (PV) and there is positive interest- currently in a trial with a large European energy company demonstrating the suitability of our battery for residential
applications- have also recently completed successful trials and benchmarking with another major European company who is also
considering the residential energy storage market.- cost competitive with other technologies such as lead acid and lithium
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AGL CEO Michael Fraser recently said :
“We see battery storage technology going ahead inleaps and bounds. This, in conjunction with rooftopsolar and home energy management systems, wouldcause a “significant” and “fundamental” change inthe way the energy market operates. ““History shows that (such technologies) start slow,but then take off faster than anyone expects.We are positioning ourselves for that.”
http://reneweconomy.com.au/2015/agl-energy-says-battery-storage-already-interesting-28336
www.gtai.com
Large Scale BatteriesWith the successful completion of the containerised prototype, we are in the process of delivering the first commercialcontainer for deployment in Australia as announced to the ASX in February 2015- key benefits of this system are a full DC architecture, easy installation, ability to be interfaced with a range of
commercially available inverters and a DC voltage of between 440V and 800V and it is relocatable.- target applications for this system are larger mini-grid applications, grid support, distributed generation and
renewables integration.- a key advantage over other technologies is the ability to swap any single battery and not replace the entire string as
with lead acid and lithium- implications of this for power system reliability are hard to over-state as each LSB is internally a high availability
system already.- system can also be de-populated for smaller applications (e.g. less than 60 ZBM3’s installed initially) and further
batteries can be added later if desired.- schematics and system design will be available for any system integrator to facilitate the sale of batteries.
17Prototype LSB 300 completed September 2014
Large Scale Batteries - Architecture
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Large Scale Batteries - Principle
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System Control
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Deployment
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Integration requirements:
• Inverter selection - ABB/S&C tested, others should work• Specific application management SW – peak shift, grid support, etc.• Logging, diagnostic, monitoring, remote access• System deployment – footings, transformers, connections, etc• Safety, security – fencing, video surveillance, alarms (other than battery related)• Grid support (LBS field test) – Inverter 3-phase, grid connection, charge/discharge scheduling SW• Solar shift/peak shaving – Inverter, grid connection, solar installation tied (AC), power flow management software• The LBS system (20” shipping container) can reach a maximum of 300kW and 660kWh;• Multiple LBS can be connected to the single inverter being managed independently by the local BMS;• Each LBS is programmed (and calibrated) to perform and behave like the others and supervisory system can
rapidly synchronise the operations
Thank You
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