Redflow (ASX:RFX) shares rise as much as 8.2% to A$0.298, reaching their highest level since September 19.

The electrical equipment manufacturer announces the U.S.

Department of Energy’s approval of funding for a 34.4 megawatt-hour long-duration energy storage microgrid project.

The project will be a part of the Department’s $325 million long-duration energy storage program, an initiative aimed at the advancement of crucial clean energy technologies.

Trading also sees heightened activity, with more than 481,000 shares changing hands, significantly surpassing the 30-day average volume of 171,651 shares.

The year has been generally positive for the stock, showcasing a rise of 27.9% as of the last close.

Redflow is an electrical equipment manufacturer specializing in the development and production of energy storage systems.