[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.
Born out of entrepreneurial South Australia, the company developed and tested its silicon energy storage technology for more than a decade before deciding to open the business up for mainstream investment.
“The development of this technology is something that has attracted not just Australian, but global interest,” said Dr Kevin Moriarty, Executive Chairman of 1414 Degrees. “The time came when we needed to make a decision about whether to continue as a private company or go public, and we knew that by going public we would open up the wider opportunities for growth that were on offer.”
“In December 2016, we became an unlisted public company. Our primary supporters to date have been individuals, families and private fund managers, as well as the Federal and State Governments, but there is a very large group of people who are not professional investors, but who are very keen to become involved.
“We believe there is room for everyone, and through the IPO we plan to open investment up to those people who have been demanding to be involved.”
Dr Moriarty said the company was the in the final stages of preparation for lodging its prospectus with the Australian Securities and Investments Commission (ASIC).
He confirmed that the company, which already has grant funding from the South Australian Government (via the Renewable Technology Fund (RTF)) for a collaboration project with SA Water, had also agreed terms for a further large scale commercial installation. The newly agreed installation will receive continuing funding under the Federal Government’s AusIndustry Accelerated Commercialisation program. Both of these commercial transactions add further to the value proposition for current and potential investors in the company.
“One of the remarkable things about this company is that people are very attuned to its offering,” said Dr Moriarty. “We haven’t had to convince anyone of the benefits. People are well aware there is a gap in the market and they know our products have the potential to fill it.”
Dr Moriarty said 1414 Degrees’ unique technology had the potential to revolutionise the approach of Australian and international industry to energy storage and heat generation.
“There is a huge market for our products – everything from grid scale deployment to use in factories and district heating projects,” he said. “If we raise the capital to ensure we are first to market, we expect there to be a very strong demand.”
1414 Degrees Limited (ACN 138 803 620) (1414 Degrees) intends to lodge a prospectus to invite prospective investors to apply for fully paid ordinary shares in the capital of 1414?Degrees (Shares).
1414 Degrees’ prospectus for the proposed offer of Shares will be made available at the time that the Shares are offered.
Prospective investors wishing to acquire Shares must complete the application form that will be in or will accompany the prospectus.
A copy of 1414 Degrees’ prospectus will be available (once it has been lodged with the Australian Securities and Investments Commission) on its website – www.1414degrees.com.au [/vc_column_text][/vc_column][/vc_row]