After a decade in research and development, 1414 Degrees has patented a Thermal Energy Storage System (TESS).
Over $3M was invested in the prototype development, co-funded by the Australian Government through AusIndustry, with control equipment contributed by Schneider Electric and assistance from the South Australian Government with our initial site at the Tonsley Innovation Precinct.
The prototype was commissioned in September 2016 and is used as a testing bed for refining our technology to ensure scalability and durability for the larger TESS-IND and TESS-GRID units. The prototype is now housed at our research and development facility at Southlink Industrial Park, South Australia.
This has been supported by our shareholders who invested $27m AUD in the last few years (including $16.3m in the IPO), AusIndustry who co-funded the pilot scaleup, and the South Australian Government with a $1.6m AUD grant to co-fund the GAS-TESS project.
Our ongoing investment in research and development will ensure innovation continues to improve our products.