Silicon battery firm 1414 Degrees ignores Tesla, Snowy Hydro blitz for IPO
The Adelaide firm that claims its pioneering silicon storage device can displace lithium ion batteries is brushing off the Tesla, Snowy Hydro publicity blitz and accelerating plans for a $10 million mid-year IPO and commercial rollout later this year.
Kevin Moriarty, chairman of 1414 Degrees, says a 2000 megawatt expansion in Snowy Hydro capacity won't cover the vast market for energy storage created by more intermittent wind and solar power entering the electricity market, and won't solve South Australia's energy woes because the interconnector to Victoria isn't big enough.
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