Graeme Wood, the founder of online accommodation booking site Wotif and a major donor to climate and clean energy initiatives, has emerged as a major shareholder in the Brisbane-based battery storage developer Redflow
Another successful Australian entrepreneur, IT man Simon Hackett, has also emerged as a major shareholder in the company.
Hackett spent another $3.4 million this week to take his holding in the company from 9.8 per cent to 13.4 per cent. Hackett recently became the first customer for the company’s new generation product, with a plan to take his Adelaide-based offices entirely off-grid.
Redflow recently said its battery storage products are nearing parity, particularly with the tariff structures available in Europe. In Australia, it is becoming interesting for network operators, and commercial users.
“Enlightened investors, consumers and politicians understand that the only place for coal is in the ground,” he said in a statement.
“Happily, Redflow’s business growth is market-driven and not held back on the world stage by the mindset of those in the anti-renewables brigade in Canberra who want to water down Australia’s commitment to renewable energy.
“I am delighted to be supporting an innovative Australian company with a mission encompassing both profit and social benefit.”