(photo: SiBox levelised cost of heat (LCOH) versus costs of natural gas)

1414 Degrees Limited has estimated its renewable-powered SiBoxTM thermal energy storage system has the potential to replace a significant amount of fossil fuel consumed by global heat-related industries as they shift to electric heating.

These industries contribute approximately 60%* of worldwide industrial CO2-emissions through their dependence on fossil fuels for heat generation. Decarbonising high temperature processes that rely on gas presents a significant challenge. SiBoxTM technology is specifically designed for this very high temperature market.

Recent analysis by 1414 Degrees, based on proprietary process data supplied by various industries, has revealed a significant finding: the SiBox technology will be competitive as a substitute for gas much earlier than anticipated due to a combination of higher gas pricing and carbon pricing as shown in the chart above.

Industries could replace gas with clean hot air up to ~1000°C by retrofitting a renewable-powered SiBox. SiBox uniquely leverages the latent heat of silicon to deliver constant process temperature on-demand – a critical requirement for many industries.

Not only is SiBox cost competitive, but it may provide a much higher value proposition than gas as it can provide grid stability services with process control. SiBox may also reduce energy costs by charging when electricity costs are lower, such as during periods of high solar or wind power generation. Additionally, SiBox can be charged and discharged simultaneously, making it an even more advantageous solution for 24/7 high-temperature industrial processing.

1414 Degrees initially mapped out a 5-year path to commercial viability of SiBox but increasing coal and gas prices have driven up costs for heat supply in industries globally. As a result, SiBoxs very hot air output will be competitive earlier than anticipated. Cost is just one incentive to reduce gas use – gas supply constraints are likely to continue into the foreseeable future, and emissions reduction is driving change.

“This is good news for our Company and those committed to achieving global net-zero emissions targets,” said Dr. Kevin Moriarty, Executive Chairman. “Whereas previously our path to revenue was through less efficient electricity generation, now we have a direct route through decarbonising industrial heat. SiBox heat is expected to deliver over 90% efficiency.”

SiBox is powered by 1414 Degrees silicon Brick, which is on a cost-reduction path to mass production. This cost reduction will make the SiBox and silicon Brick even more competitive in reducing both cost and emissions in high temperature industries.

Click here to see supporting documentation within the ASX release

* Industrial emissions data sourced from International Energy Agency and Long Duration Energy Storage Council