RFX Details
 
Started installing battery production line in Thai factory: RedFlow Ltd (ASX:RFX), which makes zinc-bromine flow batteries (ZBM2) and is gradually gaining acceptance for its ZCell battery in the Australian market,saw its stock rising 5.4% on November 01, 2017 after the company informed that RFX has started installing battery production equipment at its new factory in Thailand, and is on track to commence initial operation by the end of this year.The group has also signed a three-year lease on a building in the free trade zone. An engineering team visited the site to help its manufacturing partner MPTS with the installation and commissioning of the equipment.
 
Earlier this year, the group announced about producing its batteries in Thailand based on a decision to relocate manufacturing from North America to South East Asia, in order to be in proximity to its most lucrative markets in Australia, Oceania and southern Africa, and to reduce costs.
 
A two-battery ZCell residential off-grid installation in Victoria, a 14-battery ZBM2 deployment at a factory in South Africa, and two sales worth US$600,000 each to New Zealand-based Hitech Solutions which is deploying ZBM2 batteries for a major communications network in a Pacific Island nation, have been among the group’s latest successful efforts. The group is also focusing on growth after a challenging period; and in an effort, has restructured its leadership team.
 
RFX stock has fallen 48% in the last six months as on October 31, 2017 owing to lower than expected financial performance.RFX still had an improved 2017 with lower fixed costs and increased sales revenue from residential ZCell sales commencement and new commercial ZBM2 sales. Accordingly, the group’s loss after income tax on a consolidated basis for the financial year ended 30 June 2017 of $12,915,584 was better than 2016 loss of $14,121,539.
 
It might be prudent to wait for some more positives given the group’s efforts, while we give a “Hold” recommendation on the stock at the current price of $0.098

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