One of the features of Advent’s Q1 results was a fivefold increase in sales for use in redox flow batteries (RFB). The flow battery industry has just seen a major step forward with, ESS Inc (STWO US), having announced a major deal to sell 2GWh of flow batteries to SB Energy Corp, part of Japan’s SoftBank Group (9984 JP). While we still expect fuel cells and other opportunities in the hydrogen space to dominate, we think flow batteries have the potential to develop as a major business opportunity for Advent.
