After a decade in research and development, 1414 Degrees has patented a Thermal Energy Storage System (TESS).
Over $3M was invested in the prototype development, co-funded by the Australian Government through AusIndustry, with control equipment contributed by Schneider Electric and assistance from the South Australian Government with our initial site at the Tonsley Innovation Precinct.
The prototype is now housed at our research and development facility in Lonsdale, South Australia, along with our first two commercial models to be deployed in 2019.
This has been supported by our shareholders who invested $27m AUD in the last two years (including $16.3m in the IPO), AusIndustry who co-funded the commercial scaleup, and the South Australian Government with a $1.6m AUD grant to co-fund the GAS-TESS project.
1414 Degrees is working with distribution companies globally to commercialise our industry scale technology, and is developing a joint venture model for infrastructure funders and technology partners to create large integrated projects combining generation with energy storage and sale of power and heat. 1414 Degrees will licence assembly, operations and maintenance programs to safeguard intellectual property.
Our ongoing investment in research and development will ensure innovation continues to improve our products.