Energy Storage Company Lists on Australian Stock Exchange

South Australian energy storage company 1414 Degrees will start trading on the Australian Securities Exchange from tomorrow after raising $16.3 million as part of its IPO.

1414 Degrees
1414 Degrees, which uses silicon in its thermal energy storage systems, begins trading on the Australian Securities Exchange 

The company has spent a decade and A$15 million developing its silicon storage technology and will begin trading as a public company from 11am Australian Eastern Standard Time on Wednesday, September 12.

The listing completes a 22-month journey since 1414 Degrees (ASX:14D) became an unlisted public company in December 2016.

Until now, the Adelaide-based company has been funded largely by individuals, families and private fund managers, along with Federal and State Governments.

Already this year 1414 Degrees has commenced three initial projects: a collaboration with SA Water to integrate energy generation from biogas waste with storage at the Glenelg Wastewater Treatment Plant in Adelaide's west; integrating a Thermal Energy Storage System (TESS) into the existing operations of national poultry grower Pepe's Ducks in New South Wales to provide electricity and heat; and a pilot device for Austcor Packaging to be installed at its Wetherill Park plant in NSW.

"This day has been a long time coming for 1414 Degrees and its foundation investors," Executive Chairman Dr Kevin Moriarty said ahead of the public listing.

"Our technology has 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."

Options (ASX:14DO) will commence trading on the same date and time.

The Lead South Australia | theleadsouthaustralia.com.au