Simon Hackett, the biggest shareholder in Australian battery company Redflow has stepped down as chairman and chief executive of the company ahead of its shift to manufacturing in Thailand and a major push in sales for its zinc bromine “flow” batteries.
Hackett, who assumed the twin roles a year ago as Redflow struggled to bring its technology to market and get access to capital, and who became the public face of the company, will continue with “oversight” of technology developments, “public advocacy” and external communications.
However, the company has decided to elevate chief financial officer Richard Aird to the role of CEO, although the 8-year veteran of the company has yet to negotiate final terms. It has also appointed Brett Johnson, a former general counsel from Qantas, as independent chairman.
Hackett, who made his fortune in internet software, will continue to help develop the company’s Battery Management System (BMS) that he designed, and simplify and document the interface.
“During the past year, Redflow has completed a major strategic redirection,” the company said in a statement.
“It is transitioning battery production from Mexico to Thailand, refocusing its sales and marketing on lead-acid replacement cycles in the telecommunications, commercial, industrial and off-grid residential sectors, and has raised an additional $14.5 million in equity – including $4 million from Simon Hackett.”
Its focus now would be on the new manufacturing operations and bringing costs down to ensure that they product is profitable and competitive.
Hackett, who made his fortune in internet software, will continue to help develop the company’s Battery Management System (BMS) that he designed, and simplify and document the interface.Redflow’s incoming
“With running the business and the Board now in the hands of professionals in those fields, I can focus my passion, skills and energy on successfully overseeing the interface between Redflow’s unique technology into real-world energy systems, and communication of these benefits to customers and industry,” he said in a statement.
“The past year has seen strong demand for our batteries, so my goal is to ensure that as we scale up production, our partners find it easy to integrate Redflow batteries into energy storage systems.”