ASX-listed clean energy storage company 1414 Degrees has announced its partnership with Woodside, Australia’s largest energy company.
1414 Degrees has signed agreements with a subsidiary of Woodside to support the further development of its renewable energy technology.
“This is positive news for 1414 Degrees. We couldn’t have a better partner in Woodside as we continue to advance our SiBox renewable energy technology,” 1414 Degrees CEO Matt Squire said.
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“Our core belief is that renewable electricity is now a necessity and will only grow in abundance. Our focus on storing this electricity and delivering renewable heat will offer long term solutions to decarbonising as well as compelling returns to shareholders.
“This partnership with Woodside is a vote of confidence in our SiBox renewable energy storage and the continued advancement of our technology that utilises the latent heat properties of Silicon. Our SiBox design is both simple and scalable in its concept and can replace the use of gas or fossil fuels with renewable heat for a large array of energy customers. It is a much simpler solution than hydrogen.
“This is also particularly relevant as the world faces rising energy costs, gas shortages and a strong desire to decarbonise.
“We believe there is an exciting future for 1414 Degrees and I thank our shareholders for their ongoing loyalty. We also acknowledge the state and federal governments who have contributed to our development and we thank them for their continuing support.
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“We look forward to cementing our partnership with Woodside as we continue to develop the capabilities of 1414 Degrees SiBox technology and progress our Aurora Energy Project near Port Augusta,” Squire said.
SiBox stores abundant renewable electricity and delivers heat, replacing the need to burn coal or gas. It is unique in its simplicity, scalability and flexibility of use.
The project will be under construction in Adelaide next year.