Energy storage company 1414 Degrees has opened a new factory and will begin building its first commercial system next month before listing on the Australian Stock Exchange in early 2018.
The South Australian 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.
1414 Degrees has moved into a 3000sq 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.
The company is also planning to initially build two grid scale 1GWh systems in South Australia, which would be comprised of 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.
H/t reader kevin a.
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