New General Manager – Operations appointed

New General Manager – Operations appointed

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 

September 2024 Quarterly Activity Report

September 2024 Quarterly Activity Report

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.

14D secures institutional investment of up to $4.7m

14D secures institutional investment of up to $4.7m

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.”

For a full summary of the key terms and conditions of the Agreement see the ASX announcement at www.1414degrees.com.au/investors

 

Share Purchase Plan Offer extended

Share Purchase Plan Offer extended

1414 Degrees is please to advise the SPP is near target and will be extended for an additional week to now close on Friday, 20 September 2024.

Under the SPP, eligible shareholders are invited to subscribe for up to $30,000 of new fully paid ordinary shares in the Company at an issue price of $0.06 (6 cents) per new Share, free of all brokerage and commissions.

Full details of the offer are contained in an offer booklet which was made available to shareholders and released on the ASX on Friday, 23 August 2024

Revised timetable

Event  Date 
Record Date (date for determining shareholders’ entitlements to participate in SPP Offer)  6:30pm (ACST) Thursday 15August 2024 
Announcement of SPP Offer  Friday 16August 2024 
Despatch of SPP Offer documentation   Friday 23 August 2024 
Opening Date for SPP Offer  Friday 23 August 2024 
Closing Date for SPP Offer  4.30pm (ACST) Friday 20 September 2024 
Issue of new Shares under the SPP Offer  Friday 27 September 2024 
Quotation of new Shares on ASX  Monday 30 September 2024 

Visit the Share Purchase Plan Offer page for further details:  www.1414degrees.com.au/spp

 

Directors subscribe to Share Purchase Plan

Directors subscribe to Share Purchase Plan

1414 Degrees Board of Directors have once again shown their confidence in the future of the company by subscribing a total of $75,000 to the Share Purchase Plan (SPP) announced by the Company on 16 August 2024.
 
This SPP presents an opportunity for eligible shareholders to extend their investment in 1414 Degrees.
 
Executive Chairman, Dr Kevin Moriarty, commented: “The Directors’ involvement in the Share Purchase Plan highlights their confidence in 1414 Degrees’ ability to realise near-term earnings potential, expedite hydrogen reactor development, decarbonise high-temperature industrial heat, as well as their commitment to enhancing shareholder value.”
 
We would like to remind all eligible shareholders that the SPP is scheduled to close at 4:30pm (ACST) on September 13, 2024 (unless varied by the Directors in accordance with the Listing Rules and applicable law). We encourage all eligible shareholders to carefully consider this opportunity to join us in our renewed mission to decarbonise high temperature industrial heat and contribute to global net-zero targets.
 
Eligible shareholders are able to view the documents and apply online by visiting www.computersharecas.com.au/14dspp
 
Visit www.1414degrees.com.au/spp to watch a video about our plans for the future.
 
Read the full ASX announcement here.