1414 Degrees Ltd (ASX:14D) is today listing on the Australian Securities Exchange (ASX) after raising $27 million and gaining more than 2,100 shareholders since it became a public company less than 21 months ago. The latest raising of $16.3 million was at 35 cents.
“The Company originated in Australia a decade ago, and our technology has long term, worldwide relevance as the adoption of renewable energy increases,” said Executive Chairman, Dr Kevin Moriarty.
“This global support has enabled the Company to fund growth and achieve ASX listing from its own investor sources. Our investor base ranges from very high net worth individuals through to family funds focused on seeing our technology reinforce energy security by helping the expansion of renewable energy.
“The next challenge for 1414 Degrees is to select the growth path with immediate revenue potential, since there is clearly wide demand for thermal energy storage products. We need to analyse these opportunities with a view to maximising the best returns for shareholders,” said Dr Moriarty.