VRFB to acquire a 50% stake in Enerox from Garnet Commerce for $33m.

VRFB to acquire a 50% stake in Enerox, an Austrian-based vanadium redox flow battery manufacturer ,from Garnet Commerce for $33m. "I am pleased to announce today's transaction, another step in simplifying and consolidating the ownership structure of this exciting energy storage platform. As mentioned previously and with the commitment of its investors, this series of transactions provide Enerox and its CellCube brand access to the capital markets, the ability to achieve a transparent market value and attract energy focused investors looking to participate in this exciting growing sector. As we have communicated in recent months, we feel this is the right time for this emerging energy storage story to take on a life of its own, while still keeping an interest in the business and most importantly maintaining our vertically integrated business model," Fortune Mojapelo, Bushveld Minerals CEO.