Our Executive Chairman, Dr Kevin Moriarty opened the Annual General Meeting today, with his address about our year of transformative progress.

Click here to read Dr Moriarty’s address about our significant strides toward commercial revenue from our silicon-based thermal storage and hydrogen production technologies and the road ahead.

Click here to view the AGM presentation or access this and other documents in our Investor Centre.

1414 Degrees has appointed a new General Manager to drive the company’s commercial success. 

John O’Donnell will commence in the role tomorrow (Tuesday, 12 November). 

As an accomplished executive leader with 35-years’ experience – including driving growth of global businesses in the energy, oil and gas, infrastructure and defence sectors – O’Donnell will lead 1414 Degrees’ implementation of its pioneering clean heat technologies across industries globally. 

His robust combination of public and private sector experience, together with academic qualifications, spans the project lifecycle from solution-design to decommissioning. 

O’Donnell has considerable experience in sustainable energy systems, engineering design, and asset integrity solutions, including managing multidisciplinary teams of up to 3000 people. His work in clean energy spans projects such as bespoke waste-to-energy plants and innovative energy storage solutions for the defence industry. He has also served on influential boards and held executive roles in global industrial services providers – including Wood and KAEFER. 

Guided by academic credentials in construction law (LLM), business (MBA) and electrical engineering (MSc, B.Eng (Hons)), he has a record for achieving financial and workforce growth targets in complex, highly-regulated environments, such as naval nuclear submarines; while ensuring safety, quality, and compliance. 

1414 Degrees Executive Chairman, Dr Kevin Moriarty, said O’Donnell would be a valuable addition to the team. 

“John will be instrumental in enhancing our operational efficiency and resource allocation as we commercialise our energy storage and hydrogen solutions,” Dr Moriarty said. 

O’Donnell, who has been in Australia for three years already, plans to live in South Australia for the long-term and said he was drawn to a unique opportunity to influence the path of a new clean energy technology to market. 

“I’ve always been interested in technology and the solutions in development by 1414 Degrees are at the forefront of clean energy innovation. I look forward to working with this talented team to bring these innovations to market. 

“1414 Degrees has the expertise and partnerships to make this technology work and deliver market-leading solutions. 

“I’ll be leveraging my own, and the company’s existing networks, to assist in the next phase of the journey, which is to implement solutions that decarbonise industrial operations and provide our shareholders a return on their investment,” he said. 

See the ASX release, dated 11 November 2024, on our Investor page, for further information.
Investors | 1414degrees.com.au 

1414 Degrees provided an update to the ASX, outlining progress on key milestones during the period ending 30 September 2024.

Executive Chairman, Dr Kevin Moriarty wrote to shareholders summarising key updates including progress on:

• Oversubscribed SPP raised $1.08 million to fast-track projects
• Secured up to $4.7 million from Lind Partners to fund SiBox® installations
• Submitted proposals to multiple Australian manufacturers to integrate SiBox and reduce gas use
• Advanced SiPHyR™M hydrogen project with CRC-P funding and Woodside partnership
• Progressed transmission agreement for 140MW battery in Aurora Energy Precinct

You can read the full announcement to the ASX here.

Highlights

• Up to A$4.7 million investment by US institutional investor, Lind Global Fund II, LP, an entity managed by New York-based firm, The Lind Partners (together, Lind).
• Under a Share Subscription Agreement 14D will receive an initial A$1.3 million, with up to a further A$3.4 million in funding available over 12 months under a Monthly Purchase Agreement.
• The Monthly Purchase Agreement is a staged private placement of up to $3.4 million in monthly instalments of between A$50,000 and up to A$300,000 monthly over a 12-month period (unless extended), with an initial instalment of A$100,000.
• Proceeds from the investment will be used to fund industry placement of the Company’s SIBox technology, development of the Aurora Precinct grid scale battery and the Company’s general working capital requirements.

1414 Degrees Ltd (ASX: 14D) (“1414 Degrees” the “Company”) a developer of energy storage products for industrial decarbonisation and hydrogen production is pleased to announce that it has entered into agreements with Lind Global Fund II, LP (Investor) pursuant to which the Investor will provide up to A$4,700,000 in funding to the Company to subscribe for fully paid ordinary shares in the Company (Shares) under two agreements as follows:

• • (Share Subscription Agreement), the Investor will make a payment of A$1,300,000 (Advance Payment Amount) (less any applicable offset) to the Company, as a prepayment for Shares to be issued to the Investor (Subscription Shares) for a deemed subscription value of A$1,560,000 (Subscription Amount), with the Subscription Shares to be issued within 24 months from the date of payment of the Advance Payment Amount in accordance with the terms of that agreement; and
  • (Monthly Purchase Agreement), the Investor will subscribe for Shares (Tranche Shares) by making payments of up to A$3,400,000 in aggregate to the Company in monthly tranches ranging between A$50,000 to A$300,000 over 12 months (Tranche Amounts), with an initial Tranche Amount of A$100,000 (First Tranche Amount), in accordance with the terms of that agreement.

Executive Chairman, Dr Kevin Moriarty, said “We benefited from Lind investment in our formative phase and are pleased continue working with Lind to support roll-out of our SiBox technology in industrial trials and taking our Aurora Energy Precinct projects to ready to build status.”

Jeff Easton, founder of The Lind Partners, said:

“Lind was a seed investor in 1414 Degrees prior to its IPO. Lind continues to believe in 1414 Degrees, and was delighted to be selected by 1414 Degrees to re-invest so as to support 1414 Degrees’ product roll-out. We look forward to working with the team and supporting the business as it enters it next phase of growth.”