Redflow Limited (AU:RFX) has released an update.
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Redflow Limited, an Australian energy storage company, has entered voluntary administration due to difficulties in securing the necessary equity funding for a strategic plan involving a new factory for large-scale battery manufacturing. Despite confirmed governmental support and commercial interest in their X10 battery, the company failed to attract the required matching funding from capital markets. The future of Redflow is now uncertain as administrators review the business and engage with potential parties to continue its development.
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