1414 Degrees reports quarterly progress

1414 Degrees (ASX:14D) has released its September 2024 Quarterly Activity Report. The company raised $1.08 million through an oversubscribed Share Purchase Plan. It secured up to $4.7 million from Lind Partners for SiBox installations. The company advances its SiPHyR™ hydrogen project with CRC-P funding and a partnership with Woodside.

Overview and future direction for 1414 Degrees

1414 Degrees has made significant strides in its funding and project developments as outlined in the September 2024 Quarterly Activity Report. The company raised $1.08 million through an oversubscribed Share Purchase Plan and secured up to $4.7 million from Lind Partners. Additionally, the company is focusing on its SiPHyR™ hydrogen project with support from a $2.5 million CRC-P grant and partnerships with key industry players like Woodside. Progress has been made on a transmission agreement for a 140MW battery in the Aurora Energy Precinct. 1414 Degrees is actively working to integrate its SiBox technology with various Australian manufacturers, targeting reductions in gas usage and exploring international market opportunities. The company's strategic partnerships and financial achievements position it well for future growth, with ongoing efforts to secure government grants and refine cost estimates for competitive solutions. The leadership team remains optimistic about the company's financial strength and commercial prospects.

Executive insights from 1414 Degrees

The ongoing support from our shareholders and strategic partners underscores our commitment to advancing our innovative energy solutions. The funds raised will accelerate our project timelines and enhance our capabilities in delivering decarbonization technologies. We are excited about the progress of our SiPHyR project and the potential impact of our SiBox technology in reducing industrial gas usage.