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1414 Degrees to enhance reactor technology with SiBrick integration

1414 Degrees to enhance reactor technology with SiBrick integration

Jan 8, 2024

We are pleased to announce that we have obtained an exclusive licence for a new fluid reactor technology (Reactor) developed and patented by The University of Adelaide.

The novel Reactor design features innovative dual bubble column technology with liquid metal catalysts for high-temperature reactions. 1414 Degrees plans to integrate its SiBrick™ silicon thermal storage with the Reactor design, primarily for emissions-free hydrogen production through pyrolysis of methane. Integrating SiBrick with the Reactor will allow the use of intermittent renewable energy in the process, which requires constant very high temperatures to maintain continuous hydrogen production.

The University of Adelaide will continue to develop its Reactor design under a sub-licence for teaching and research purposes.

On successful commercialisation 1414 Degrees will pay royalties to the University. The licence term is 20 years and the agreement includes an option for 1414 Degrees to purchase the intellectual property in the future.

SiBox proves ability to track electricity pricing

SiBox proves ability to track electricity pricing

Dec 15, 2023

The SiBox® Demonstration Module is charging according to National Electricity Market (NEM) pricing.

In a successful new phase of operation, our technology demonstrates the capability to discharge a constant 24/7 heat output while charging intermittently when electricity is cheaper.

This is an essential requirement for customers as it will allow them to minimise their energy costs while enabling their processes to run continuously.

Read the complete update to the ASX below.

Highlights:

  • Successful integration of SiBox with National Electricity Market pricing
  • Consistent heat output maintained despite variable charging cycles representing low and high pricing periods, demonstrating reliability and commercial viability
  • Completion of six daily cycles at 700°C, with plans for higher temperature operations

 

 

Figure 1. Shows constant heat output (orange) for 6 days with variable storage temperature (red). Top is SiBox state-of-charge (blue). Middle shows NEM price curves (blue line) and SiBox charging status (green is on).

1414 Degrees Ltd (“1414 Degrees”, “14D”, or the “Company“) is pleased to announce its SiBox Demonstration Module (SiBox or SDM) is charging according to National Electricity Market (NEM) pricing.  This successful new phase of operation showcases the SiBox technology’s capability to discharge a constant 24/7 heat output while charging intermittently when electricity is cheaper.

This is an essential requirement for customers as it will allow them to minimise their energy costs while enabling their processes to run continuously. The SiBox successfully completed six daily cycles at 700°C output. Future runs will be conducted at higher temperatures.

This sets the stage for the SiBox to participate in demand management on the NEM to further minimise energy costs.
Furthermore, 14D is preparing the SDM to test its ability to provide frequency control ancillary services (FCAS) in the NEM, potentially enabling a new revenue stream for future SiBox installations in the electricity market while also substituting a renewable source of FCAS for the typical fossil fuel source of gas or coal.

About FCAS

FCAS are mechanisms in the power grid that maintain the balance between electricity demand and supply, ensuring a stable and reliable frequency. Generating revenue from FCAS involves rapidly in response to grid imbalances, and receiving compensation for helping maintain system stability

November Annual General Meeting

November Annual General Meeting

Nov 17, 2023

On 10 November 2023, 1414 Degrees Limited held our Annual General Meeting (AGM). 

Our Executive Chairman, Dr Kevin Moriarty, elaborated on how the past year had been marked by significant achievements in technology validation, ongoing product development, strategic market positioning, and reporting of real results to shareholders, all while laying groundwork to attract global investors. 

The presentation delivered at the AGM provided an overview of the size of the market for our thermal energy storage technology – SiBrickTM – as well as how the Aurora Energy Precinct is poised for near-term cash flow potential from the National Electricity Market. 

For more details, including the technology commercialisation road map, see the AGM presentation here.

September 2023 Quarterly Activity Report

September 2023 Quarterly Activity Report

Nov 3, 2023

 

1414 Degrees provided an update to the ASX on October 31 outlining progress on key milestones during the September quarter.

Executive Chairman, Dr Kevin Moriarty wrote to Shareholders summarising the key updates. His correspondence and the Quarterly update are provided in the link here.

 

Entitlement Offer strongly supported by shareholders

Entitlement Offer strongly supported by shareholders

Aug 18, 2023

18 August 2023
1414 Degrees today updated the ASX about the results of the Entitlement Offer, which closed on Monday, 14 August 2023, announcing strong support from eligible shareholders.

The ASX update is provided below.<

Entitlement Offer Results and Notification of Shortfall

1414 Degrees Limited (“1414 Degrees” the “Company”) confirms that the non-renounceable pro-rata offer of new fully paid ordinary shares (Entitlement Offer, New Shares) previously announced on Friday, 14 July 2023, closed at 5:00pm (AEST) on Monday, 14 August 2023 (Closing Date).

The Company is pleased to advise that the Entitlement Offer was strongly supported by existing shareholders, with the Company receiving total applications from Eligible Shareholders of approximately $1.471 million (equal to 32,683,063 New Shares).

Reflecting on this achievement, Dr Kevin Moriarty, Executive Chairman remarked, “We are pleased our shareholders support accelerating the development of a mass-manufacturable energy storage SiBrick and see the potential of the SiBox® heat battery to impact decarbonisation efforts in high temperature industry.”

Applications from Eligible Shareholders consisted of 27,674,311 New Shares from entitlements taken up in full as well as 5,008,752 New Shares from applications for additional New Shares offered under the top up facility (Top Up Facility).

In accordance with the terms and conditions set out in the Prospectus dated 14 July 2023 (Prospectus), one free attaching option exercisable at $0.10 each on or before the day that is 24 months after the date of issue (New Option) will be issued for each New Share applied for and issued under the Entitlement Offer.

In line with the indicative timetable included in the Prospectus, the Company anticipates that New Shares and New Options (together, New Securities) applied for under the Entitlement Offer will be issued on Monday, 21 August 2023. The Company intends to lodge Appendices 2A and 3G on Monday, 21 August 2023 in accordance with this timeline.

The funds raised from the Entitlement Offer and Shortfall Offer will be primarily used to accelerate product development for commercialisation of the Company’s and SiBrickTM and SiBox® products1. This is in the wake of recent technical milestones, including:

  • the successful commissioning of 1414 Degrees’ SiBox® Demonstration Module (SDM) which is now operating autonomously and completing validation phase testing2. This testing involves repeated charge and discharge cycles to simulate daily electricity-to-heat time shifting, providing confidence in a range of use cases and industry partners. These operational tests follow extensive trials where the SDM demonstrated its ability to convert electric energy into a controlled hot air stream for industrial purposes.
  • the strengthening of collaboration with Refratechnik-Steel to conduct manufacturing trials of the Company’s groundbreaking latent heat SiBrickTM3. As 1414 Degrees progresses the commercialisation of its technology, the collaboration will focus on manufacturing methods and costs.

Shortfall Offer

The Shortfall following the issue of New Securities is anticipated to be 70,059,980 Shares (Shortfall Offer Securities), equal to approximately $3.153m. Taylor Collison Limited (Lead Manager) is acting as lead manager to the Entitlement Offer and any shortfall to the Entitlement Offer (Shortfall Offer). In accordance with the Lead Manager Mandate, Taylor Collison will place the Shortfall Offer Securities on a best endeavours basis to sophisticated and professional investors, subject to the Board’s discretion as to the allocation of the Shortfall. Please refer to sections 2.2, 2.3, and 8.1 of the Prospectus for more information regarding the Shortfall Offer and the Lead Manager Mandate. The Shortfall Offer Securities will be allocated within three months after the Closing Date.

Conditional Placement Offer

Since the value of the Shortfall Offer Securities is higher than $500,000, the Company confirms that the Conditional Placement Offer will not be proceeding. Refer to section 2.5 of the Prospectus for more information regarding the Conditional Placement Offer.