[vc_row][vc_column width=”1/1″][vc_column_text]It has been a strong start to 2018 for 1414 Degrees as we progress product development, corporate consolidation, and preparation for ASX listing.
Ten people have been employed in January, including Head of Legal, Human Resources Manager and a Project Manager.
[vc_row][vc_column width=”1/1″][vc_column_text]CHAIRMAN’S REVIEW
The fourth quarter of 2017 saw a significant consolidation of 1414 Degrees’ portfolio, increasing our readiness for an IPO.
This includes a collaboration with SA Water, on a more than $4 million investment, including a $1.6 million grant from the South Australian Government, to develop a variation of our technology to burn the waste methane from the Glenelg Wastewater Treatment Plant.
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Following a detailed submission to the Australian Securities Exchange (ASX), 1414 Degrees has received approval in-principle to proceed with submitting an ASX Listing application. Accordingly, we are drafting a prospectus and aim to submit it to ASIC in March 2018. The ASX code ‘14D’ has been reserved with ASX.
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We are delighted to be among the first recipients of funding provided through the South Australian Government’s Renewable Technology Fund. We applaud the commitment by our state to delivering world-leading energy storage solutions to consumers, and look forward to commencing work immediately.
This grant is a significant milestone for 1414 Degrees, enabling us to advance our innovative thermal energy storage technology. By harnessing the high latent heat capacity of silicon, our SiBox® system offers a sustainable alternative to traditional fossil fuel-based energy sources, particularly in high-temperature industrial applications. The funding will support the development and demonstration of our SiBox® technology, showcasing its potential to store renewable energy efficiently and provide reliable, decarbonised heat for industries such as cement, steel, and alumina production. This aligns with our mission to decarbonise industrial heat processes and contribute to a more sustainable energy future. We are committed to collaborating with industry partners and stakeholders to accelerate the adoption of our technology, furthering South Australia’s position as a leader in renewable energy innovation.
[vc_row][vc_column width=”1/1″][vc_column_text]There has been an extraordinary amount of activity over the last quarter and below we highlight key developments and Executive Chairman Dr Kevin Moriarty provides his review.
KEY DEVELOPMENTS
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“Storage is the answer and the key to all our problems”. This comes from Minister Koutsantonis at his announcement of over 60 applications to the Renewable Technology Fund. We were pleased to join him today at the press conference for this announcement, where we announced our own three proposals for the Fund.
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