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
Wood spent $3 million picking up shares in an institutional placement, and then sub-underwrote its rights issue, meaning he will emerge with a 5.2 per cent stake in the company.
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.
