Winners and Losers: Battery biz rockets into space
Shares in an SA battery technology business shot into orbit last week on the back of two major announcements.
South Australian battery technology innovator 1414 Degrees saw its shares rise by more than 85 per cent last week after the company announced two positive pieces of news.
On Monday, the company announced it had progressed its Aurora Energy Precinct near Port Augusta, having completed the final technical requirements set by the Australian Energy Market Operator (AEMO).
This meant the company could proceed to negotiate commercial transmission access with ElectraNet.
The Aurora project is a 16sqkm precinct combining high-voltage transmission infrastructure with contracted water supply, fibre connectivity and renewable energy generation.
1414 Degrees hoped its precinct could generate up to 900 MW of renewable electricity from solar and would connect to a transmission line that services BHP’s SA operations.
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“Aurora is more than a battery project,” 1414 Degrees executive chairman Dr Kevin Moriarty said.
“It is a large-scale energy and industrial precinct with the infrastructure foundations that major customers require: transmission access, water, fibre and renewable energy.”
Two days later, the company announced it had launched “into space” with a partnership with a space company.
Italy-based Orbit Boy will test 1414 Degrees’ battery technology for readiness to be deployed in satellites.
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If successful, 1414 Degrees said it would get a “commercial pathway into the satellite, space and aerospace and defence battery markets”.
“The Orbit Boy agreement gives 14D a direct technical and commercial pathway into satellite power systems as well as joining the space race,” Moriarty said.
While on Friday, the company entered into a trading halt ahead of a planned capital raising announcement.
Shares in the firm rose by 85.71 per cent over the course of the week. Over the past year, shares in 1414 Degrees are up by a whopping 622 per cent.
The full list of Winners and Losers for the week ending June 19:
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