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.
 
TACTIC generates new connections

TACTIC generates new connections

Connections made at the TACTIC conference and trade expo earlier this month could lead to new partnerships that help integrate 1414 Degrees’ technology into industry processing plants.

Dr Jason Chaffey, who is leading the commercialisation of 1414 Degrees’ technology, presented at the 750-delegate conference in South Australia’s Upper Spencer Gulf and is eagerly following up leads.

“We have a product – SiBox – that can be used to decarbonise process heat across a spectrum of temperatures and this conference was an important opportunity to connect with key players in the energy industry and energy users in the region,” Dr Chaffey said.

“This was about understanding their challenges so our solutions can be tailored to their energy footprint, site area and energy available.”

Since successfully proving the efficacy of the company’s SiBox Demonstration Module earlier this year, 1414 Degrees has this technology ready for commercialisation and is seeking commercial pilot partners. “We’re keen to work with energy service providers to come up with solutions for the industries we’re talking to,” Dr Chaffey said.

“We’re focused on industries looking to reduce carbon emissions from process heat, found in industries where steam is used as part of the manufacturing process.”

The conference was also an opportunity to talk about how 1414 Degrees is integrating its proven energy storage solution with hydrogen production technology – through the SiPHyR project.

“By connecting with natural gas users in the region, we’re generating a pipeline of potential hydrogen customers, who could benefit from a solution that would decarbonise emissions at the point of input,” Dr Chaffey continued.

The conference was also held near the site for the Aurora Energy Precinct – which 1414 Degrees is developing with joint venture partner, Vast.

“The key for us, was understanding the main energy users in the region, including BHP – which operates mines in the area – and how they could benefit from renewable firmed energy and frequency controlled and ancillary services.

“The Australian Energy Market Operator (AEMO) has indicated that by 2035, 36 GW of storage is needed to be able to supplement the renewable energy system here in Australia.

“Two things are needed – storage and firmed energy.

“Aurora allows us to demonstrate both for the energy market.”

High-temperature energy storage performance attracts US interest

High-temperature energy storage performance attracts US interest

Global energy storage experts showed strong interest in 1414 Degrees’ SiBox® and SiPHyR™ technologies at an invitation-only workshop in North Carolina earlier this month. These technologies are designed to provide high-temperature energy storage solutions crucial for decarbonising industries. 

1414 Degrees’ Chief Technology Officer, Dr Mahesh Venkataraman, was invited to present at the Thermal-Mechanical-Chemical Energy Storage Workshop, to a prestigious audience of energy industry leaders, policymakers and end users. 

Dr Venkataraman the only Australian representative in attendance said the workshop was a prime opportunity to raise awareness about 1414 Degrees’ unique capabilities. 

“The energy storage market is substantial, but our technology has a unique advantage in that it can provide direct heat from renewables, which can help decarbonise industries which rely on high-temperature processes and lack feasible alternatives to fossil fuels,” Dr Venkataraman said. 

“Very few, if any, companies have been able to demonstrate performance of high-temperature energy storage, in the way we have,” he said. 

The United States is investing heavily in the transition towards net zero, following introduction of the Inflation Reduction Act, which the Clean Energy Council calls “a mammoth package of policies and incentives targeting US$369 billion (AUD $520 billion) of clean energy and climate change initiatives”.1 

Dr Venkataraman noted the US market could fill a gap in the Australian market for research stage activities and small-scale demonstration opportunities. 

“There was considerable interest from different parties in the US,” Dr Venkataraman said. 

“Partnering with US companies could open doors for funding under US policies designed to fast-track the energy transition. This workshop was an excellent opportunity to showcase 1414 Degrees’ leading-edge capabilities,” he said. 

 

Share Purchase Plan Offer opens

Share Purchase Plan Offer opens

1414 Degrees has opened a Share Purchase Plan (SPP) Offer, to advance several commercial opportunities to realise near-term cash earning potential. 

The SPP opened to Eligible Shareholders today (Friday, 23 August 2024) and will close at 4:30pm ACST on Friday, 13 September 2024.  

Eligible shareholders should have received an email about the offer on Friday, 23 August, titled “1414 Degrees Limited Share Purchase Plan”, providing specific details about how to participate. 

Funds raised under the SPP are intended to be used for purposes including: 

  • completing development of the Aurora Energy Precinct’s grid scale 140MW/280MWh Li-ion battery to financial investment decision, including securing connection to the transmission network and national electricity market 
  • securing a contract for SiBox technology in an industry setting, and mass manufacturing trials for SiBrick 
  • fast-tracking development and commercialisation of the SiPHyR hydrogen production technology. 

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

 

June 2024 Quarterly Activity Report

June 2024 Quarterly Activity Report

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

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

  • commercial readiness and strategic partnerships
  • SiBox® industrial process testing
  • The SiPHyR™ hydrogen reactor technology and the aim to own and commercialise a device that can be connected to existing natural gas and biogas supplies, replacing methane with hydrogen and
  • the Aurora Renewable Energy Precinct negotiations to connect to the national electricity grid.

You can read the full announcement to the ASX here.