28 July 2017

Quarterly Update: July 2017


There has been an extraordinary amount of activity over the last quarter and below we highlight key developments and Executive Chairman Dr Kevin Moriarty provides his review.

HIGHLIGHTS

KEY DEVELOPMENTS

  • New project sites with significant advantages, including lower cost
  • Regulatory changes are creating strong interest in 1414 Degrees TESS from Australia and Asia
  • IPO postponed to accommodate significant project proposals

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12 June 2017

Our thoughts on the Finkel Review


The much anticipated Finkel Review ( Independent Review into the Future Security of the Australian National Electricity Market by Dr Alan Finkel) was released on Friday 9 June 2017.

The report highlights that storage will play a significant role in reliability and security. Our thermal energy storage system (TESS) is incredibly relevant and provides an answer to many of the current challenges as highlighted below. These are Dr Kevin Moriarty’s key thoughts after reading the report.

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1 June 2017

June Update


CHAIRMAN’S UPDATE

I wanted to give you a brief update on 1414 Degrees.

Our IPO will likely be in the third quarter of this year, rather than June as previously communicated. This will allow us to advance some important projects that have been proposed to us in the past month.

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11 May 2017

Quarterly update: May 2017


There has been an extraordinary amount of activity over the last quarter and below we highlight key developments and Executive Chairman Dr Kevin Moriarty provides his review.

HIGHLIGHTS

KEY DEVELOPMENTS

  • SA Premier and Treasurer inspect prototype and identify support to speed development
  • AUD$2.5m raised in over-subscribed seed round
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26 April 2017

1414 Degrees engages more engineers as interest in larger installations grow


Our team has grown substantially following the successful private capital raising. We have recently engaged 8 engineers to prepare our Thermal Energy Storage System (TESS) devices for commissioning and to develop an innovative grid scale energy storage system.

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29 March 2017

Energy storage key to long-term stability for renewable energy


“In the absence of massive battery storage the intermittent unreliability of wind and solar power have played havoc with the electricity grid, exacerbated by extreme weather conditions……”

Read the article in the Nikkei Asian Review for more detail on a number of technological improvements in storage capacity, including Snowy Hydro 2.0, AGL’s Virtual Power Network, and 1414 Degrees thermal energy storage solution and information on the planned IPO.

17 March 2017

Seed funding raised


We are pleased to announce that the current seed funding round has closed after raising AUD $2.5 million from professional investors in a heavily over-subscribed offer. The issue was managed by Taylor Collison Ltd on behalf of 1414 Degrees.

Executive Chairman, Dr Kevin Moriarty said the funds would allow the Company to speed up its first commercial applications of the thermal energy storage systems (TESS).

“We have selected a site for our first 10MWh machine and are evaluating potential for 200MWh installations.

”At the same time we are using our successful prototype to test components for the larger TESS,” he added. 

Funds are also being used to prepare for the IPO and listing on the ASX, lead-managed by Taylor Collison, which is scheduled for mid-2017. 

23 February 2017

We need to start acting now, for later


It’s time to acknowledge that we are moving away from the legacy grid towards a smart grid.

The peakiness of the demand is beginning to be obvious to electricity consumers, and that peak demand is only going to be magnified potentially leading to more load shedding.

There are vast changes coming in how we use electricity and they are only going to push peak demand higher. Increased peak demand is beginning to be obvious to electricity consumers as spot prices rise, but it is only going to get worse. It’s time for regulators to move away from employing the tools designed for the legacy grid of last century and let the smart grid take over.

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31 January 2017

1414 Degrees January Update 2017


HIGHLIGHTS

Engineering

  • Prototype TESS commissioned
  • Better than expected ERD efficiency of 31% electricity and 80% CHP
  • AusIndustry signs off and concludes its 50% funding of the Prototype
  • Testing and design underway for commercial 10MWh and 200MWh modules
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30 January 2017

How do we improve grid security and reliability?


Here at 1414 Degrees we have been putting together our submission for the Finkel Review of the National Electricity Market and want to share our thoughts on how grid security and reliability can be improved.

Immediate action must focus on removing the intermittency associated with renewables generation derived mostly from solar and wind.

This can only be achieved by embedding medium to large scale storage technology in the electricity grid.

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