- $8.4m in IPO funds promised by cornerstone investors following $2.5m seed raise
- IPO in preparation for early 2018
- 3000 square metre R&D facility leased for build of 10MWh TESS-IND and test cell of TESS-GRID
“Storage is the answer and the key to all our problems”. This comes from Minister Koutsantonis at his announcement of over 60 applications to the Renewable Technology Fund. We were pleased to join him today at the press conference for this announcement, where we announced our own three proposals for the Fund.
Many of these investors have also reserved an allocation of shares in our upcoming IPO.
Our aim to bid for a slice of the SA Government’s renewable energy scheme to bring storage and stability to the energy market has made the news.
The assistance under the Entrepreneurs’ Programme Accelerating Commercialisation element will help turn the business’ good ideas into marketable products through market trials, upscaling, proving new technology, and connecting with markets.
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.
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.