Australian energy storage firm Redflow has said that it is unaware of any information that has not been disclosed to the market that could explain the recent trading of its shares, which gained as much as 89% within 48 hours.
In response to a request from the country’s Security Exchange, Redflow stated that it considers its recently released announcement to be positive news.
The announcement referred to an article in the Australian Financial Review, which cited the federal government’s aim to set up a battery manufacturing industry within the country.