- $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.
Energy is a resource that should be available to all, at all times. 1414 Degrees strives to make this a reality.
We are facing a pivotal moment in the local and global energy market, with soaring prices, instability, and harmful emissions. Our energy storage technology presents an opportunity to disrupt the energy market by providing a highly efficient, safe, scalable, and low emission solution. The use of readily available silicon rocks ensures its sustainability and its affordability.
We see the exponential growth opportunities and know we can impact change.
The simple reason: to make energy available, cheaper and cleaner.Stay up-to-date
The prototype for 1414 Degrees has been built in the Tonsley Park Innovation Precinct, South Australia with assistance from AusIndustry.
The next stage is the design and installation of optimised commercial modules at demonstrator sites. In parallel with the installations, research and development (R&D) work will continue on new technology for the thermal storage device aimed at achieving at least 50% cost reduction for materials.Stay up-to-date
Over the past 10 years, 1414 Degrees has invested over $3M with the assistance of AusIndustry grants. For five years it has funded research by the University of Adelaide engineering faculty into silicon energy capture and recovery, and employed several graduates to design and build the first commercial prototype.
Government and industrial companies are supporting the development with funding or in kind contributions. For example, Schneider Electric have supplied the control circuitry and refractory manufacturers have offered to supply the high temperature containment materials. The South Australian government has supported the prototype development in its Tonsley Park Innovation precinct.
1414 Degrees is planning a future IPO.Pre-register for a prospectus
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