Saturday 15 December 2018

Dr Kevin Moriarty, executive chairman, 1414 Degrees

1414 Degrees to build energy storage units in new factory

ADELAIDE, November 22, 2017

Australia-based 1414 Degrees, a leading energy storage company, has opened a new factory and will begin building its first commercial system next month, said a report.

1414 Degrees has moved into a 3000-sq-m factory on the site of the former Mitsubishi engine plant in the southern Adelaide suburb of Lonsdale where it will build its first 10MWh TESS-IND system and the first 13.3MWh test cell for a 200MWh TESS-GRID system, added The Lead South Australia report.

The company has spent almost a decade developing its Thermal Energy Storage System (TESS) technology to store electricity as thermal energy by heating and melting containers full of silicon at a cost estimated to be up to 10 times cheaper than lithium batteries, it said.

The company is also planning to initially build two grid scale 1GWh systems in South Australia, which would comprise five 200MWh units and potentially play a significant role in stabilising the state’s renewable energy-dependent electricity network.

1414 Degrees has submitted three applications to the South Australian Government’s $150 million Renewable Technology Fund, which has already allocated up to $20 million towards Tesla’s ‘world’s biggest’ lithium-ion battery being built in the state’s Mid North.

Executive chairman Dr Kevin Moriarty said 1414 Degrees was aiming to list on the Australian Stock Exchange in March or April after it had learned the outcome of its funding applications, which require matching funding.

He said the IPO would plan to raise at least $30 million to support the development of the technology, added the report.

Tags: | Energy | storage | factory |

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