1414 SPRUIKS TECH AHEAD OF IPO

Ther­mal en­ergy stor­age sys­tems are cost ef­fec­tive, can be lo­cated any­where, are very com­pact, and have a very long life.

The Australian Energy Review - - FRONT PAGE - REUBEN ADAMS

SIL­I­CON ther­mal en­ergy stor­age sys­tems are more com­pact than bat­ter­ies and have the low­est lev­elised cost com­pared to any other form of stor­age, ac­cord­ing to 1414 De­grees chair­man Dr Kevin Mo­ri­arty.

1414 is pre­par­ing for an ASX list­ing on the back of its “ground-break­ing” stor­age tech­nol­ogy which it is pro­gress­ing to­wards com­mer­cial­i­sa­tion.

The com­pany stated in Oc­to­ber last year that $8.4m in IPO funds had al­ready been promised by cor­ner­stone in­vestors fol­low­ing $2.5m seed raise.

With the sig­nif­i­cant in­crease in the num­ber of large-scale bat­ter­ies and pumped hy­dro projects in Aus­tralia, there was a clear need for en­ergy stor­age to help in­crease the ef­fi­ciency and re­li­a­bil­ity of the grid, Mr Mo­ri­arty said.

Ther­mal en­ergy stor­age sys­tems are cost ef­fec­tive, can be lo­cated any­where, are very com­pact, and have a very long life, he said.

They also pro­vide so­lu­tions to a num­ber of de­fi­cien­cies in ex­ist­ing en­ergy stor­age op­tions.

“Pumped hy­dro is very use­ful for long-term stor­age, sea­sonal stor­age and so on, but you can’t put it any­where; it’s got to be lo­cated some­where where there’s moun­tains and plenty of wa­ter, and so on,” he said.

“So you’re quite lim­ited in lo­ca­tion. It’s also rel­a­tively ex­pen­sive, and pos­si­bly en­vi­ron­men­tally chal­leng­ing to set up.”

Im­age: 1414 De­grees.

1414 De­grees ex­ec­u­tive chair­man Dr Kevin Mo­ri­arty.

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