[vc_row][vc_column width=”1/1″][vc_column_text]With its Initial Public Offering (IPO) in the final stages of preparation, South Australian based energy innovator, 1414 Degrees, has inked a deal for the first interstate installation of its products.
[vc_row][vc_column width=”1/1″][vc_column_text]With demand for its products coming from across the world and investors champing at the bit to buy their way into the renewables market, it was hardly surprising when energy innovator, 1414 Degrees, announced it would issue an Initial Public Offering (IPO) in early 2018.
[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.
[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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