Announcement • Apr 29
1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million. 1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 206,896,551
Price\Range: AUD 0.0145
Discount Per Security: AUD 0.00087 Announcement • Mar 27
1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 2.68725 million. 1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 2.68725 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 93,672,099
Price\Range: AUD 0.0145
Discount Per Security: AUD 0.00087
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 91,655,487
Price\Range: AUD 0.0145
Discount Per Security: AUD 0.00087
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.8m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Revenue is less than US$1m (AU$876k revenue, or US$623k). Market cap is less than US$10m (AU$9.15m market cap, or US$6.51m). New Risk • Jan 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$11.5m market cap, or US$7.72m). Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Non-Executive Director Randolph Bowen was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 09
1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 1.214 million. 1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 1.214 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,904,762
Price\Range: AUD 0.042
Transaction Features: Subsequent Direct Listing Announcement • Sep 24
1414 Degrees Limited, Annual General Meeting, Nov 19, 2025 1414 Degrees Limited, Annual General Meeting, Nov 19, 2025. New Risk • Sep 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 45% a day. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.3m free cash flow). Share price has been highly volatile over the past 3 months (45% average daily change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (AU$23.9m market cap, or US$15.8m). New Risk • Mar 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.7m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m (AU$1.3k revenue, or US$795). Market cap is less than US$10m (AU$5.42m market cap, or US$3.37m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • Feb 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.7m free cash flow). Revenue is less than US$1m (AU$1.3k revenue, or US$797). Market cap is less than US$10m (AU$5.99m market cap, or US$3.73m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • Jan 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (AU$6.68m market cap, or US$4.19m). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). New Risk • Sep 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$19.3m market cap, or US$13.3m). Announcement • Sep 17
1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 1.893464 million. 1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 1.893464 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,725,728
Price\Range: AUD 0.053
Transaction Features: Subsequent Direct Listing Announcement • Sep 11
1414 Degrees Limited, Annual General Meeting, Nov 14, 2024 1414 Degrees Limited, Annual General Meeting, Nov 14, 2024. Price Target Changed • Aug 24
Price target decreased by 19% to AU$0.13 Down from AU$0.15, the current price target is provided by 1 analyst. New target price is 100% above last closing price of AU$0.063. Stock is up 54% over the past year. The company posted a net loss per share of AU$0.0091 last year. Announcement • Aug 16
1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million. 1414 Degrees Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,666,667
Price\Range: AUD 0.06 Board Change • Jun 16
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. MD & Executive Chairman Kevin Moriarty is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.8m (US$9.82m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.4m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.8m market cap, or US$9.82m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Price Target Changed • Feb 02
Price target decreased by 14% to AU$0.15 Down from AU$0.18, the current price target is provided by 1 analyst. New target price is 141% above last closing price of AU$0.063. Stock is down 16% over the past year. The company posted a net loss per share of AU$0.0091 last year. Announcement • Sep 15
1414 Degrees Limited, Annual General Meeting, Nov 10, 2023 1414 Degrees Limited, Annual General Meeting, Nov 10, 2023. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (98% accrual ratio). Revenue is less than US$1m. Market cap is less than US$10m (AU$9.05m market cap, or US$5.86m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). New Risk • Aug 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (98% accrual ratio). Revenue is less than US$1m. Market cap is less than US$10m (AU$9.53m market cap, or US$6.11m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). New Risk • Aug 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (98% accrual ratio). Revenue is less than US$1m. Market cap is less than US$10m (AU$11.3m market cap, or US$7.42m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Board Change • Dec 01
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Chairman Kevin Moriarty is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 15
1414 Degrees Limited Appoints Katelyn Marie Adams as Company Secretary 1414 Degrees Limited announced the appointment of Ms Katelyn Marie Adams as Company Secretary with effect from 15 November 2022. Ms Adams will also be the person appointed under Listing Rule 12.6 to be responsible for communication with ASX in relation to ASX Listing Rules matters. Ms Adams is a Partner with HLB Mann Judd and has over 15 years of accounting and company secretarial experience, servicing predominantly ASX listed companies. Katelyn has extensive experience in company secretarial duties, ASX Listing Rule requirements, IPO and capital raising processes, as well as a strong technical accounting and corporate governance knowledge. Katelyn's current listed company positions are: Clean Seas Seafood Limited (Non-Executive Director); Duxton Water Limited (Company Secretary); Duxton Broadacre Farms Limited (Company Secretary); Highfield Resources Limited (Company Secretary); and PetrathermLimited (Company Secretary), and well as director/company secretary of various other unlisted public and private companies Ms Adams is a Chartered Accountant and has a Bachelor of Commerce (Accounting/Finance). Mr. Larry Mitchell has resigned as Company Secretary with effect from 15 November, 2022. TheBoard thanks Mr. Mitchell for his assistance with the transition and AGM. Announcement • Nov 11
1414 Degrees Limited Withdrawn Proposal of Re-Election of Peter Gan as a Director 1414 Degrees Limited at the 2022 Annual General Meeting held on 11 November 2022 announced that Shareholders not accepted the re-election of Mr. Peter Gan as a Director. The proposal withdrawn by the company. Announcement • Nov 08
1414 Degrees Limited Appoints Larry Mitchell as Company Secretary 1414 Degrees Limited announced the appointment of Mr. Larry Mitchell as Company Secretary with effect from 8 November 2022. Mr. Mitchell will also be the person appointed under Listing Rule 12.6 to be responsible for communication with ASX in relation to ASX Listing Rules matters. Mr. Mitchell has extensive commercial experience as a Company Secretary and Chief Financial Officer. Mr. Mitchell was most recently Chief Financial Officer for technology company Sparc Technologies Ltd. and has held similar positions with SCF Containers and Osmoflo. Mr. Mitchell is a Chartered Accountant and has a Bachelor of Commerce and a Post Graduate Diploma in Natural Resources Law. Announcement • Jul 29
1414 Degrees Limited Appoints Kevin Moriarty as Director 1414 Degrees Limited at its annual general meeting held on July 28, 2022 approved the appointment of Dr. Kevin Moriarty as a Director. Announcement • Jun 28
1414 Degrees Limited Announces Resignation Date of Matthew Squire, Chief Executive Officer as 30 June 2022 1414 Degrees Limited informed the market that Board has reached agreement with Mr. Matthew Squire for his final day of employment with the Company to be the 30 June 2022. As advised to the ASX on the 19 May 2022, Dr. Jordan Parham will commence in the role as Acting Chief Executive Officer from the 1 July 2022. Announcement • Jun 15
Vast Solar Pty Limited entered into a Share Sale Agreement (SSA) to acquire a 50% stake in SiliconAurora Pty Ltd from 1414 Degrees Limited (ASX:14D) for AUD 2.5 million. Vast Solar Pty Limited entered into a Share Sale Agreement (SSA) to acquire a 50% stake in SiliconAurora Pty Ltd from 1414 Degrees Limited (ASX:14D) for AUD 2.5 million on June 15, 2022. The consideration will be paid in cash payable by Vast Solar in two instalments. An initial AUD 1 million is payable at completion and a further AUD 1.5 million following the receipt by Silicon Aurora of a written offer to connect to the transmission system from the relevant Network Service Provider under the rules of the National Electricity Market (NEM) (Connection Agreement). Entities associated with the owners of Vast Solar will also be granted Call Options in up to 9.9% of the shares in 14D with a strike price of AUD 0.16 per share. The Call Options are non-transferrable and their grant will be conditional upon the execution by Silicon Aurora of the Connection Agreement (for Stage 1 of Aurora), provided that this occurs within 18 months of the date of execution of the SSA. The expiry date of the Call Options is 3 months after being granted. The completion of the SSA is expected within the next 30 days. Announcement • Jun 08
1414 Degrees Limited Announces Removal of Directors 1414 Degrees Limited announced that at its AGM held on July 28, 2022, the meeting will consider the resolutions proposed by Focem in the Notice, namely the removal of Mr. Tony Sacre, Mr. Dana Larson and Mr. Peter Gan. Board Change • Jun 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Dana Larson is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • May 19
1414 Degrees Limited Announces Executive Changes 1414 Degrees Limited announced that Mr. Matthew Squire has, for personal reasons, tendered his resignation as the Company's Chief Executive Officer. The details and timing of Mr. Squire's departure are still being finalised, however the Board has determined that once Mr. Squire has completed an agreed notice period, the Company's Chief Operating Officer, Dr. Jordan Parham, will be appointed to the role of Acting Chief Executive Officer. Dr. Parham has been with the Company since the beginning of 2019 and, in conjunction with Mr. Squire, has been actively involved in key commercial negotiations concerning the Woodside Energy partnership and the associated development of the SiBox technology, as well as ongoing commercial discussions on the development of the Aurora Energy Project. Announcement • May 12
1414 Degrees Limited Announces Commencement of Final Connection Process for Aurora 1414 Degrees Limited has executed a work order with ElectraNet to commence the Generator Performance Standard study for the Aurora Energy Project. The GPS study is the primary activity remaining in order to be approved by the Australian Energy Market Operator to connect to the National Electricity Market and negotiate a Transmission Connection Agreement with ElectraNet. The commencement of the GPS study follows confirmation of the key technical input parameters of the 140MW/1-2hr capacity Battery Energy Storage System that will comprise Stage 1 of the Aurora Energy Project, which will unlock the site's future development. 14D has appointed Emanden Technical Solutions (Emanden) as owner's engineer and AECOM as the modelling consultant to manage and execute the GPS study. Emanden and AECOM are highly experienced in undertaking these activities in the NEM and South Australia. 14D is now working with Emanden to finalise the selection of preferred equipment providers, as announced in the March quarterly release of 27 April. In addition, 14D is engaging with potential prospective commercial partners for the Aurora Energy Project following the decision by Ovida to withdraw on 5 April. The Aurora Energy Project is located near Port Augusta and includes Development Approval from the South Australian government for a BESS up to 140 MW /280 MWh, 70 MW solar photo-voltaic array and 150 MW Concentrated Solar Power as well as connection to the adjacent 275 kV transmission line. The focus remains on the establishment of a connection agreement and initial development of a 140 MW /1-2hr BESS with the final investment decision for procurement and construction targeted for late 2022. All rights to the development of Aurora are held by Silicon Aurora Pty Ltd. a 100% owned subsidiary of 1414 Degrees. Announcement • May 04
1414 Degrees Resolves to Appoint an Additional Two Independent, Non-Executive Directors, Sheree Ford and Alison Evans 1414 Degrees resolved to appoint an additional two independent, non-executive Directors, Sheree Ford and Alison Evans. Ms Ford has practiced as a solicitor for over 30 years, initially in private practice and then as in house counsel and company secretary, largely in the energy and resources sector. In the energy sector Ms Ford commenced her career as a lawyer for BHP Limited and subsequently undertook roles as general counsel and company secretary and as a member of the executive team at several listed and unlisted companies, including Beach Energy Limited, Interoil Corporation and Roc Oil Company Limited. She has expertise in managing both the commercial and legal activities of companies operating in both Australia and internationally including responsibility for execution of large transactions, commercial contracts, government and community affairs, risk management and corporate governance. Ms Evans has extensive executive leadership experience in private and ASX listed companies in the energy and resources sector, with a focus on growth and energy markets. She has worked in several legal counsel roles with Centrex Metals, GTL Energy and AGL Energy, and most recently she was General Counsel and Company Secretary of Cooper Energy Limited. In her role at Cooper Energy, Ms Evans held a variety of executive responsibilities over a broad portfolio of functions including legal, enterprise risk management, people & remuneration and health, safety, environment & community (HSEC). During her time in this role she was an integral member of the executive leadership team that delivered on the company's strategy of growth and transformation to provide gas to south-eastern Australia which involved the sale and purchase of assets and joint venture interests, raising of equity and debt and the development of major projects. Prior to her various in-house roles, Ms Evans practised as a corporate lawyer at firms including Johnson Winter & Slattery and Minter Ellison with a focus on corporate transactions and capital markets. Announcement • Nov 27
1414 Degrees Limited Announces Development Approval Variation Granted 1414 Degrees advised its Aurora Energy Project (AEP or the Project) has been granted a variation to its existing Development Approval by the South Australian Minister for Planning and Local Government. The variation allows for the addition of a 140MW/280MWhr battery energy storage system (BESS), thermal energy storage and 33kV transmission line grid connection. Also included is a modified site layout plan and project staging. This is in addition to the 150MW Concentrated Solar Power (CSP), 70MW Solar Photo-Voltaic (PV) and 275kV connection to the network already approved. The Project is intended to be constructed in a series of stages. An initial BESS will unlock the potential for future solar installation as well as providing further system security and support to the electricity network surrounding Port Augusta. The exact sequence of stages after Stage 1 is subject to change, and contingent on financial and engineering outcomes: 1. 140MW/140MWh BESS (140MW with 1 hr capacity storage), including 275kV connection to the national electricity network; 2. 70MW Solar PV generation; 3. 150MW CSP generation; 4. SiBox Thermal Energy Storage pilot including 33kV connection to electricity network; 5. Expansion of BESS to 140MW/280MWh (i.e. increase to 2 hour capacity); 6. SiBox Thermal Energy Storage expansion/The development approval is a key milestone in the advancement of the long-term large-scale renewable energy project. 1414 Degrees will continue to work with all regional stakeholders including the Barngala Determination Aboriginal Corporation, pastoral leaseholders and council to unlock the renewable energy potential in the area. The company now looking to accelerate the Aurora Energy Project including potentially bringing in a partner to participate in and co-invest in the final development activities such as equipment selection and transmission studies. The company anticipates a final investment decision for Stage 1 of the project to be in late 2022 with construction expected to commence in early 2023. Executive Departure • Jul 23
Non-Executive Director Kevin Moriarty has left the company On the 19th of July, Kevin Moriarty was replaced as CEO by Jordan Parham. Kevin still personally held 12.65m shares (AU$1.2m worth) as of March 2021. This is 6.3% of the company. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jun 02
Independent Non-Executive Director & Company Secretary has left the company On the 24th of May, Richard Walter Willson's tenure as Independent Non-Executive Director & Company Secretary ended after less than a year in the role. We don't have any record of a personal shareholding under Richard Walter's name. A total of 4 executives have left over the last 12 months. Announcement • May 29
1414 Degrees Limited Announces SiBox Commercialisation Pathway 1414 Degrees reported that it has identified the pathway to commercialise its modular SiBox technology and will build a demonstration module. This follows twelve months of testing of SiBox storage media under a variety of operating conditions in laboratory furnaces. SiBox is the latest generation of company's proprietary silicon based thermal energy storage technology. The demonstration module will accelerate the commercialisation of SiBox as a competitive clean energy product; advance the Technical Readiness Level; and provide confidence to large scale industrial and utility customers. The module is designed to be replicable to build any scale of energy storage device. The $2 million 1 MWh demonstration module is scheduled to be commissioned in September 2022. A comprehensive test program will enable the Company to build a multi-module 75 MWh commercial pilot, scheduled to be commissioned in 2025, as previously announced. The company is progressing partnerships and grants for the full commercialisation process. Announcement • Feb 02
1414 Degrees Limited Announces Extension of South Australian Government Crown Sponsorship for the Aurora Solar Energy Project South Australian Government Crown Sponsorship for the Aurora Solar Energy Project has been extended to support construction of a battery and the Company's thermal energy storage system (TESS-GRID). Crown Sponsorship indicates that the project is sponsored by a State Government agency, in this case the Department of Energy and Mining, as a development of public infrastructure under section 49(2)(c) of the Development Act 1993. This was previously provided for the original project scope of 150MW concentrated solar power and 70MW solar and has now been extended to include 70MW of battery storage and 2MW thermal energy storage. 1414 Degrees acquired the project through its purchase of SolarReserve Australia II Pty Ltd. now renamed SiliconAurora Pty Ltd. Is New 90 Day High Low • Jan 08
New 90-day high: AU$0.34 The company is up 158% from its price of AU$0.13 on 09 October 2020. The Australian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 21% over the same period. Announcement • Jan 07
1414 Degrees Limited Appoints Jamie Summons as Director 1414 Degrees Limited appointed Jamie Summons as Director, effective January 4, 2021. Is New 90 Day High Low • Dec 23
New 90-day high: AU$0.21 The company is up 62% from its price of AU$0.13 on 24 September 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 5.0% over the same period. Announcement • Dec 13
1414 Degrees Limited Reports Positive Business Case for Development of the First Stages of its Aurora Solar Energy Project on the National Electricity Market 1414 Degrees Limited announced to report a positive business case for development of the first stages of its Aurora Solar Energy Project on the National Electricity Market (NEM). The Company engaged independent consultants to model spot energy prices and Frequency Control Ancillary Service (FCAS) revenues from the operation of a hybrid power plant comprising 70MW of solar PV with a 70MWh/70MW battery (BESS) on the high voltage transmission line to the Davenport substation in Port Augusta. The hybrid plant simulations were then extended to include a 1414 Degrees 1GWh/42MW Thermal Energy Storage System (TESS) operating with the BESS and PV. Each device has separate inverters and operates through a Power Plant Controller to optimise dispatch of solar PV, BESS and TESS to the transmission line. The BESS and TESS charge and discharge with grid electricity or from the PV. Capital cost of the first stage of development, including inverters, substation and connection to the high voltage transmission is estimated at AUD 199 million. According to volatility in any particular year, net revenues from operating in the NEM spot market could range between A$25m and A$30m for the PV-BESS stage. The projected net earnings almost double with the TESS, ranging between A$45m and A$60m. Net earnings include provision for plant operating costs estimated up to A$3.5m for the project when all devices are operational. Electricity markets are volatile and may be greatly influenced by policy changes so these earnings estimates are indicative. It is the Company's view that policy and energy market trends are increasingly favourable for projects with energy storage, and the TESS business case assumes some revenue from the provision of long duration synchronous storage and generation. In contrast to a gas peaker plant, the TESS can also profit from both low and high price markets. However, the business case as modelled is not yet optimised for the TESS because the unique operational characteristics of the TESS with the BESS and PV require 1414 Degrees to create its own dispatch model to optimise the revenues from FCAS during charging and revenues from the provision of long duration storage and discharge with inertia. The new dispatch model to be built over the next 12 months will allow optimisation of TESS sizing, cost, and revenues to accommodate current and future market trends. It is anticipated that there will be substantially higher price volatility and new market mechanisms in place for supporting long duration storage, further supplementing TESS revenue from arbitrage, FCAS and derivatives (e.g. price caps). The ~1GWh TESS is scheduled to be commissioned in 2028 when the increasing requirement for long duration firmed generation is projected to result in favourable pricing signals. In addition to electricity storage, the TESS can supply substantial additional thermal energy that could be monetised but is not included in the current Aurora Project business case. 1414 Degrees TESS includes its new scalable SiBox thermal energy storage technology coupled to a turbine-based energy recovery system (ERS). The TESS is capable of charging either from the grid or the on-site solar generation. This creates remarkable flexibility to service regulation and contingency FCAS markets and buy and sell energy on the NEM according to price signals. The bundled long duration storage and generation capacity would enable the fully developed project to sell more competitive power purchase agreements (PPAs), financial derivatives and grid support services under proposed regulatory market changes. An alternative operating regime bundles the selling flexible power purchase agreements is not considered in the current model because large-scale energy storage that can charge from, and regenerate to, the grid at high current will operate to advantage with price signals for energy and ancillary services. In addition to the modelled scenario the Aurora Project site has potential to install more solar PV and/or concentrated solar (CSP) generation, both of which could be firmed through the TESS-GRID to provide competitive PPAs. Approximately 12 months after commissioning the first stage PV and BESS, the Company intends to commission and test a TESS pilot of 75MWh/2MW capacity using its new SiBox storage. Following verification of its operational performance in the pilot the 1414 Degrees TESS-GRID could be expanded up to several GWh providing 100-150MW of long duration electricity generation. The large energy storage capacity will contribute to supply security in the National Electricity Market to meet the challenges of increasing intermittent renewable generation. Announcement • Dec 03
1414 Degrees Limited Announces Appointment of Jamie Summons as Managing Director, Effective January 4, 2021 The Board of Directors of 1414 Degrees Limited announced the appointment of Jamie Summons to the new role of Managing Director. Jamie will join the Company on 4 January 2021. Jamie comes to 1414 Degrees with multi-faceted experience gained from senior management positions at TXU, Energy Australia, Barclays Capital and, most recently, at Swiss Re, where he was responsible for Swiss Re's weather and energy business across Asia Pacific. He has an in-depth understanding of the challenges and opportunities for companies in today's volatile economic climate. Announcement • Oct 18
1414 Degrees Reports Gas-Tess Has Been Successfully Recommissioned in Preparation for Power Export to the Grid 1414 Degrees report that its GAS-TESS has been successfully recommissioned in preparation for power export to the grid. It was heated to operating temperature and the turbine was run ready for verification testing and witnessing by SA Power Networks. This is expected to occur in late November when the Glenelg Wastewater Treatment Plant is scheduled to begin generating electricity from its gas engines, solar PV and the GAS-TESS to enable export to the National Electricity Market. In preparation for the SAPN testing and verification SA Water required all generation devices to be integrated into an upgraded plant control system. 14D will continue to provide progress updates to the market as the connection proceeds. Announcement • Oct 05
SA Water Requests GAS-TESS to be Recommissioned for Electricity Export to Grid SA Water has requested 1414 Degrees to have the GAS-TESS operational by the end of October to prepare for electricity export to the grid as an embedded generator on the National Electricity Market. The Glenelg Wastewater Treatment Plant can generate electricity from gas engines, solar PV and the GAS-TESS but has not been able to export to the grid pending SA Power Networks' approval. SA Power Networks intends to conduct verification testing and witnessing in November, and in preparation, SA Water requires all generation devices to be integrated into an upgraded plant control system, which will be implemented prior to SA Power Networks testing. Announcement • Aug 11
1414 Degrees Limited Appoints Jordan Parham as Interim CEO 1414 Degrees announced that, effective immediately, it has appointed Dr. Jordan Parham as interim Chief Executive Officer to lead 1414 Degrees through this transition phase. He will fill the position of CEO of 1414 Degrees until October 2020 when the position will be re-assessed. Dr. Parham has been Chief Operating Officer at the Company since 14 January 2019. As interim CEO, Dr. Parham will work with 1414 Degrees' executive team and Board to execute the Company's vision and build investor confidence by delivering commercially valuable outcomes. In particular, he will support Ms Marie Pavlik, CEO of 14D's subsidiary company, SiliconAurora, to develop the Aurora Project with TESS and generate revenues for the Company. He will continue to oversee the technical team, led by Dr. Mahesh Venkataraman, to ensure the delivery of robust and competitive TESS technology. He will work closely with the business development team to commercialise 1414 Degrees' SiBox, GAS-TESS and TESS-GRID technologies. Dr. Parham and Ms Pavlik will continue to report to Executive Chairman, Dr. Kevin Moriarty. 
