Full ownership of Aurora Energy Precinct; strong partner interest in Stage One and sustained SiNTL™ battery performance

We’re pleased to report significant commercial progress across the Aurora Energy Precinct and our SiNTL™ battery materials program in our quarterly report for the three months ended 30 September 2026.

This quarter has seen a major advance for the Company and its shareholders.

Dr Kevin Moriarty, Executive Chairman

Aurora: full ownership and growing partner interest

After quarter-end we completed the acquisition of Vast Solar Aurora Pty Ltd, giving us full ownership of SiliconAurora Pty Ltd and the 15.8 km² Aurora Energy Precinct near Port Augusta in South Australia’s Upper Spencer Gulf region. Dissolving the previous joint venture structure simplifies commercial negotiations and gives us a consolidated platform for engaging customers, infrastructure partners and financiers. During the quarter, Shane Masters was appointed CEO of SiliconAurora to lead commercial development, partner negotiations and financing.

Interest in the precinct is building. We launched an expressions of interest process for funding and development partners for Stage One, which comprises the approved 140 MW / 280 MWh battery energy storage system (BESS) and an initial 70 MW solar PV development, supporting a power purchase agreement for up to 70 MW of firm renewable power on the 275 kV transmission line. National and international energy and infrastructure companies have responded, and interested parties are accessing the project data room. Indicative development capital for Stage One is A$350 million to A$550 million. We’re targeting partner selection in December 2026, financial close in early 2027 and commercial operation in 2028/29. Aurora’s broader development strategy provides a pathway to approximately 2 GW of solar PV and 1 GW of firm renewable capacity.

Data centres, transmission and solar

We signed a Heads of Agreement with an Australian data centre operator for the proposed staged development of up to 1 GW of AI data centre infrastructure at Aurora. The operator has exclusivity over a 40-hectare development area while commercial arrangements are negotiated. We’re also progressing a connection to the 33 kV distribution network along Aurora’s western boundary, which could provide a faster, lower-cost pathway to initial operations ahead of the larger 275 kV connection.

On the 275 kV connection, commercial negotiations with BHP under our term sheet for access to the transmission infrastructure continued, and the BESS Generator Performance Standards have been accepted by AEMO and ElectraNet, supporting progress toward a transmission connection agreement.

After quarter end we also placed a purchase order for Australian-designed 5B Maverick prefabricated solar systems for the initial 70 MW solar development, covering approximately 42 hectares. Our assessment indicates potential for more than 300 MW of solar generation within Aurora’s currently approved 200-hectare solar footprint.

Aurora has no close neighbours, the support of the Indigenous corporation and the South Australian Government through Crown Sponsorship of solar PV and BESS, and the potential to generate renewable power for hyperscale data centres that consume hundreds or thousands of megawatts, sometimes more than the communities in which they are situated.

Dr Kevin Moriarty, Executive Chairman

SiNTL™: sustained performance and scale-up

Testing at George Washington University has demonstrated sustained performance from a SiNTL™ formulation delivering approximately 550 mAh/g, around 50% greater specific capacity than conventional graphite anodes, over more than 640 charge-discharge cycles while maintaining acceptable capacity. A newer formulation has achieved approximately 600 mAh/g in early-stage testing.

We’re building pathways into high-value applications and existing battery supply chains. Our agreement with Italian satellite manufacturer Space Industries supports progress toward qualification for satellite applications, our letter of intent with South Korean battery manufacturer JR Energy Solution supports the development of scalable electrode and cell manufacturing, and our evaluation agreement with Ukrainian drone manufacturer Energia 2000 provides a further potential application in defence and unmanned aerial systems. With Western defence buyers seeking sovereign supply chains, we’re also assessing production sites in jurisdictions they will accept.

After quarter end we announced a A$1 million accelerated development program to increase SiNTL™ anode material production through parallel activities at George Washington University and our Tonsley facility in South Australia. Initial material production is targeted from November 2026 in the United States and December 2026 at Tonsley, with battery cells manufactured at Rochester Institute of Technology planned for delivery to commercial evaluation partners in the first half of 2027.

Industrial decarbonisation: SiPHyR® prototype under construction

Construction is progressing on a larger SiPHyR® methane pyrolysis prototype at Tonsley, designed to produce approximately 20 kg of hydrogen and up to 60 kg of solid carbon per day using 1,000°C heat supplied from SiBrick®. Commissioning is targeted for March 2027. Woodside Energy Technologies has provided A$250,000 towards a 12-month assessment of potential SiPHyR® markets, and we’re investigating commercial uses for the solid carbon output, including carbon anodes and binder-pitch products used in aluminium smelting.

We continue to respond to tenders and enquiries for industrial heat, and during the quarter we joined the Australian Electrical Thermal Energy Storage Working Group, established by the Australian Alliance for Energy Productivity, to support wider adoption of thermal energy storage.

Funding and outlook

We held A$4.923 million in cash at 30 September 2026, an increase of A$3.165 million on the previous quarter. During the quarter, 42.5 million 14DOA options were exercised at A$0.05, raising approximately A$2.1 million.

In the December quarter we’re focused on the Stage One partner process, tenders for power purchase agreements, negotiations with prospective data centre customers and both connection pathways at Aurora. For SiNTL™, we’ll commission scale-up equipment, increase anode material production and prepare battery cells for evaluation by commercial partners in 2027. Our AGM is scheduled for 11 November 2026.

View the full quarterly report →

We’re pleased to announce we’ve agreed to acquire Vast Solar Aurora Pty Ltd, securing 100% ownership of SiliconAurora Pty Ltd and full control of the Aurora Energy Precinct.

We’ve continued to lead Aurora’s development since Vast Solar Aurora entered administration in November 2025, advancing the precinct as a scalable, firmed renewable energy and infrastructure site for mining, data centres and other high-intensity energy users. During this period we progressed the 275kV transmission connection, identified a 33kV development pathway, and signed a Heads of Agreement for the proposed development of up to 1 GW of AI data centre infrastructure.

The transaction consolidates all project entities, site interests and associated development approvals under our ownership, removing the previous joint venture structure and enabling us to progress the Crown Sponsored precinct under a unified commercial strategy. SiliconAurora, 1414 Degrees and Vast Solar Aurora have collectively invested more than $10 million in the site, approvals and project development to date; we will acquire Vast Solar Aurora for $350,000, consolidating that investment under our ownership.

Aurora is a 1,580-hectare (15.8 km²) energy and industrial precinct near Port Augusta in South Australia’s Upper Spencer Gulf region, positioned for the staged development of renewable generation, battery storage and high-demand energy infrastructure. The site’s approved Stage 1 development includes a 140 MW / 280 MWh BESS, and the project has completed key technical requirements for its proposed transmission connection, progressing to commercial access negotiations with ElectraNet. A potential 33kV connection pathway has also been identified to support earlier-stage development ahead of the larger 275kV connection, with any connection remaining subject to the relevant technical, commercial and regulatory processes.

With full ownership secured, we’re moving Aurora into its next phase of development, focused on staged infrastructure delivery, securing customers, and developing the precinct as a firmed renewable energy hub for mining, data centres and other high-intensity energy users. The move also simplifies the structure through which we can engage with prospective customers, infrastructure providers, financiers and capital partners.

Dr Kevin Moriarty, Executive Chairman, commented:

“Securing full ownership of Aurora gives 1414 Degrees control of a strategically important energy and infrastructure precinct at a time when its commercial potential is becoming increasingly clear. We have approval from AEMO for connection of the BESS and have signed a Heads of Agreement for up to 1 GW of AI data centre infrastructure. Aurora combines substantial land, scalable power infrastructure, renewable generation and storage potential in a location suited to major energy users. Our focus now is on converting that position into staged, commercially viable projects and revenue opportunities.”

→ View the full ASX announcement 

Update on our onging SiNTL silicon-anode research programme, conducted in partnership with George Washington University.

A SiNTL formulation targeting a specific capacity of approximately 550 mAh/g has now completed more than 640 charge-discharge cycles while maintaining acceptable capacity, with testing continuing. This sits within a broader development program in which multiple SiNTL formulations are demonstrating sustained cycling performance, with several now exceeding 400 cycles.

A newer, higher-capacity formulation has demonstrated a specific capacity of approximately 600 mAh/g in early-stage testing. This result is preliminary, with fewer than 100 cycles completed to date, and further cycling is required before capacity retention can be assessed.

We’re investing in advanced equipment at George Washington University to support development and testing of higher-capacity SiNTL formulations, including cells with fast charge and discharge, and expanding SiNTL material production capability to provide greater quantities for anode development and third-party evaluation.

SiNTL is designed around two linked commercial objectives: increasing anode capacity while reducing the complexity and cost of silicon-anode manufacture, using a comparatively low-temperature production process. Lower manufacturing cost alone isn’t enough, though — the material must also retain its capacity through repeated charging and discharging, which is exactly what these extended cycling results test.

These results are directly relevant to the applications we’re already pursuing: UAVs and drones through our evaluation agreement with Energia-2000, a Ukrainian government-approved manufacturer of over 72,000 UAVs per year; aerospace and space through our agreement with Space Industries and Orbit Boy; and battery manufacturing through our recently announced letter of intent with JR Energy Solution in South Korea, where cycling data of this kind forms part of the technical evidence manufacturing partners assess when developing formulations for further cell development and potential scale-up.

Dr Kevin Moriarty, Executive Chairman, commented:

“The commercial opportunity for SiNTL is not simply about achieving higher capacity. We are developing a silicon-anode material that is designed to be simpler and substantially lower cost to manufacture than many competing approaches, while still delivering the performance battery customers require. Passing 640 cycles at around 550 mAh/g adds important evidence that those objectives can come together. At the same time, we are continuing to push capacity higher, with a newer formulation now demonstrating approximately 600 mAh/g in early testing.”

-> Learn more about SiNTL battery materials

-> View the full ASX announcement here

We’re pleased to announce we’ve signed a letter of intent with JR Energy Solution (JRES), a South Korean battery electrode and cell manufacturer, to jointly develop electrodes and battery cells incorporating our SiNTL silicon-anode material, with an initial focus on high-performance applications including defence, UAVs, space and robotics.

JRES operates a specialised battery electrode foundry in Eumseong, South Korea, manufacturing electrodes and cells to customer specifications for international battery developers. The company runs a 79,200 m² facility with current annual production capacity of approximately 500 MWh, and has announced plans for two additional 2 GWh-scale electrode factories as it expands into defence and robotics markets.

Under the LOI, we intend to evaluate SiNTL material samples, develop and optimise electrode formulations, manufacture electrodes and cells, and undertake half-cell and full-cell performance testing across capacity, energy density, cycle life and rate capability. This work will establish the technical base for a definitive manufacturing agreement covering scale-up and production of SiNTL-based battery cells at JRES’s facilities, giving us a pathway to scaled cell production in South Korea without building our own manufacturing capability.

The collaboration adds to our existing pathways into high-value end markets: development and scale-up work continues at George Washington University, alongside our agreement with Energia-2000 for UAV applications and our agreement with Orbit Boy and Space Industries for space and satellite applications. JRES could provide the electrode and cell manufacturing capability to support application-ready batteries across those programs.

Battery supply-chain concentration is an increasingly important consideration for defence, aerospace and other strategically sensitive markets. According to the International Energy Agency, the global lithium-ion battery market exceeded US$150 billion in 2025, with China manufacturing well over 80% of all batteries globally, and South Korea and Japan identified as the only other countries with notable midstream battery industries. The global silicon-anode battery market specifically is forecast to grow from approximately US$0.4 billion in 2025 to US$25.8 billion by 2035.

Dr Peter Yaron, Chief Technology and Operations Officer, commented:

“This agreement with JRES adds an important manufacturing pathway as we progress SiNTL toward real-world applications and commercialisation. We already have pathways into UAV, defence and space markets. Access to versatile electrode and cell manufacturing capability in South Korea gives us another option to support those programs and scale production as demand develops.”

Duke Oh, CEO of JR Energy Solution, commented:

“We’re seeing growing demand from customers seeking high-performance battery solutions and diversified manufacturing supply chains, particularly in defence, robotics and other specialised applications. We look forward to evaluating 1414 Degrees’ SiNTL technology through our electrode and cell development process and exploring the potential for future manufacturing cooperation.”

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Power is rapidly becoming one of the defining constraints on the global AI data centre build-out.

A recent US transaction has highlighted just how valuable rapid access to large-scale electricity supply is becoming.

Energy Vault has announced an agreement to deploy 1.25 GW of integrated power infrastructure for hyperscale AI data centres in Texas, with initial deployments expected within four to twelve months. The project is designed to bring AI compute capacity online ahead of traditional utility connection timelines.

The underlying challenge is increasingly familiar: AI data centres require enormous amounts of reliable electricity, while conventional grid connections can take years to secure.

That challenge is central to the opportunity 1414 Degrees sees at the Aurora Energy Precinct in South Australia.

In July, 1414 Degrees signed a Heads of Agreement with an Australian data centre developer to develop up to 1 GW of AI data centre infrastructure at Aurora. The proposed development is staged, beginning with an indicative 17 MW starter campus using the identified 33 kV connection pathway, progressing to a 200 MW anchor campus following the proposed 275 kV transmission connection, and providing a longer-term pathway to gigawatt scale as additional grid and generation infrastructure is developed.

The staged approach reflects a broader shift in the data centre market, where access to power, and the ability to bring capacity online progressively, is becoming a critical factor in site selection and development.

In Australia, there is another increasingly important consideration: where that new power comes from.

The Federal Government has signalled that new data centres will be expected to be supported predominantly by new renewable generation rather than relying primarily on gas-fired generation.

Aurora is being developed with both requirements in mind.

The almost 16km² precinct is not simply a potential data centre site connected to the grid. Its broader energy infrastructure includes an approved 140 MW / 280 MWh battery energy storage system, together with room for substantial new renewable generation, including behind-the-meter generation developed alongside large-scale energy users.

This creates the potential for growing data centre demand to be supported through a combination of grid access, new generation and storage as the precinct scales.

Different projects and different markets are taking different approaches, but the underlying challenge is the same: AI infrastructure needs power at unprecedented scale, and it needs it quickly.

For Aurora, that is helping turn access to power, renewable generation, storage and room to scale into an increasingly important part of the precinct’s development proposition.

1414 Degrees has taken another significant step in the commercialisation of its SiNTL™ silicon-anode battery technology, signing an agreement with Italian satellite manufacturer Space Industries and launch services provider Orbit Boy to evaluate, integrate and qualify SiNTL batteries for use in serially produced satellites.

The partnership provides a fast-track pathway into Europe’s growing space and defence markets by combining Space Industries’ satellite manufacturing and in-house Assembly, Integration and Testing (AIT) capabilities with Orbit Boy’s launch expertise and industry network. Rather than developing relationships across the sector from scratch, 1414 Degrees will work with two established space companies that can accelerate qualification and, subject to successful testing, commercial deployment.

Based in Turin, Italy, Space Industries manufactures satellites up to 700 kg and operates one of Europe’s largest clean-room integration facilities at its Stellar Hub. The company is pioneering a serialised approach to satellite manufacturing, backed by approximately €15 million of planned investment through to 2030, creating a potential pathway for SiNTL-enabled batteries to be designed into repeat production rather than individual missions.

Under the agreement, SiNTL cells and battery packs will be integrated into a representative satellite power system before progressing through six milestone-gated stages of testing, culminating in a qualification assessment for serial production. Space Industries will also introduce SiNTL to its customers, partners and the broader European satellite supply chain.

The agreement builds on the Orbit Boy collaboration announced in June. Together, the two partnerships establish a complete commercial pathway—from advanced battery material, to qualification, to launch, and ultimately into repeat satellite production.

Battery performance is a critical differentiator in space applications, where launch costs are determined by mass and batteries cannot be replaced once a satellite is in orbit. SiNTL has previously demonstrated at least 50% greater energy density than traditional graphite anodes while remaining compatible with existing lithium-ion battery manufacturing processes.

The collaboration also supports the development of a sovereign European battery supply chain. By qualifying SiNTL through an Italian satellite manufacturer, 1414 Degrees aims to help enable European-built power systems for defence, telecommunications and orbital infrastructure customers seeking greater supply chain independence.

The collaboration is structured as a milestone-gated qualification program with no cash consideration payable by any party. SiNTL intellectual property remains with 1414 Degrees and George Washington University throughout the program. Subject to successful qualification and future commercial agreements, the Company expects potential revenue opportunities from anode material supply, technology licensing, royalties and recurring supply into serial satellite production.

Read the full ASX announcement here.