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. 

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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20 January 2017

Investment in renewables grows in Australia




It’s encouraging to see that investment in renewable generation is on the rise again in Australia, and notable that, while clean energy investment may be down globally, installed capacity is actually rising as installation costs fall. 

Reported in Renew Economy, Bloomberg New Energy Finance (BNEF) figures released in January show that Australian renewables investment bucked the global trend to grow 49% in 2016.

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5 January 2017

What’s Next for Energy Storage Policy?




As one of America’s most active innovation hubs, it is no surprise that Massachusetts is now targeting energy storage. With a clean energy sector that has startups such as Resolute Marine Energy Inc developing technology to generate clean energy from ocean waves, Massachusetts is certainly leading the way. Read the article here

This focus on energy storage is something that we would like to see happen in Australia, particularly South Australia given the unreliable power supply.

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14 December 2016

Increasing renewable energy efficiency and grid stability




1414 Degrees’ in the news again, as we face a pivotal moment in the local and global energy market.

Inside Waste: Wednesday 14th December 2016

“Adelaide company 1414 Degrees is set to transform the global energy environment with a solution to help reduce energy costs by increasing the efficiency of renewable generation and stabilising grid supply.”

Read more here on the Inside Waste website