Listed battery maker Redflow is in a trading halt after a capital-raising target aimed at plugging a cashflow gap caused by customers cancelling orders because of the COVID-19 pandemic fell short of its target.

Some of the cash was also intended to complete the development of Redflow's new Gen3 battery. The company has developed its own version of a zinc-bromine flow battery, which is cleaner and more durable than the dominant lithium ion technology but more expensive, making sales elusive.