Australian Solar Battery Maker RedEarth Cashed Up

Queensland-based RedEarth Energy Storage has another $12 million in its kit to take it through to the ASX listing the company is aiming to achieve next year.

RedEarth engineers and assembles grid-connected and off-grid modular solar battery solutions here in Australia in its facility at Darra in Brisbane. The company currently has 4 battery system product lines:

• BlackMax – an off-grid solution for daily power use offering up to 12.3kWh of storage. The company says BlackMax was the first Australian-made off-grid battery energy storage system (BESS) approved by Australia’s Clean Energy Council (CEC).
• Sunrise – a grid connected battery available in storage capacities up to 26kWh. Specifications and estimated pricing for a couple of models can be viewed on SQ’s solar battery comparison table.
• Honey Badger – an off-grid system for country homes and small enterprises.
• Drop Bear – a hybrid on- and off-grid system.

RedEarth also manufactures the Troppo battery module, which the company says was the first Australian-made battery approved by the CEC. Based on Lithium Ferro Phosphate (LFP/LiFePO4) chemistry – widely considered the safest of common Li-ion chemistries – each module provides 4.1kWh capacity. Troppo modules are used in RedEarth’s integrated systems and will also be made available to industry as a standalone product through its sales partner Rexel.

Added to all this, the company manufactures large custom containerised systems named “Bushpig” and “Bushpiglet”.

Last year, RedEarth announced the deployment of its first Personal Power Plant (PPP) network, which it said would provide new options over established power company-controlled virtual power plants (VPPs).

1,000 Battery Systems In The Field

RedEarth Energy Storage has been a comparatively quiet achiever in the battery storage space and has a network of 1,000 systems “hardened in the field” since it kicked off. The company says it has experienced more than 60% quarter-on-quarter growth in revenue for the last thirteen quarters.

The company’s CEO is Charles Walker, who was previously Head of Corporate Development at another Australian battery storage company, Redflow.

Among the investors in RedEarth’s oversubscribed and expanded institutional pre-IPO offering of $12 million were Ord Minnett Private Capital, Perennial Value and Thorney.

While the firm hasn’t experienced the media attention some other brands have enjoyed, RedEarth Energy Storage is gearing up to make its presence, products and services more widely known, and the cash will certainly help this along.

“RedEarth will use the funding to further accelerate its local manufacturing, sales, and marketing efforts, as well as specific research and development to finalise its electricity monetisation technologies ahead of listing,” states the company.

RedEarth Energy Storage reviews here on SolarQuotes from Australian customers have all been positive to date. While we only have 14 customer reviews in the database at the time of publishing, all have been 5/5 except for one that rated the company 4/5.

If you’re considering a home battery (and it seems many Australians are at the moment), check out Finn’s comprehensive plain-English guides on understanding, buying and owning a solar battery system. These three guides will tell you everything you need to know about residential solar energy storage.

Original Source: https://www.solarquotes.com.au/blog/redearth-battery-funding-mb2191/