Australia's 1414 Degrees company's thermal energy storage technology receives US$2 million investment

　　Australian thermal energy storage developer 1414 Degrees recently stated that it has received US$2 million in investment from Australia’s largest natural gas producer Woodside Energy to support the further development of its SiBox thermal energy storage technology.

　　(A rendering of the 1GWh thermal energy storage system planned to be deployed by 1414 Degrees)

　　SiBox thermal energy storage technology is different from other energy storage technologies because it can store renewable energy and release it in the form of heat and electrical energy, which may enter the industrial and district heating market.

　　SiBox stores thermal energy as latent heat in molten silicon-its melting point is as high as 1414 Degrees Celsius, hence the company's name. Molten silicon also has a high energy density, which means it can hold more energy than other phase change materials, thereby providing maximum energy efficiency.

　　In the transaction announced a few days ago, Woodside Energy will provide up to $2 million in funding for the SiBox thermal energy storage system with a total energy storage capacity of 1MWh. The energy storage technology will be verified under various operating conditions in the laboratory. If the verification is passed, the company will operate projects with an energy storage capacity of up to 75MWh.

　　Woodside Energy will cooperate with 1414 Degrees company to jointly develop and commercialize SiBox thermal energy storage technology.

　　Matt Squire, CEO of 1414 Degrees, said, "This is good news for us. The partnership between Woodside Energy and us is our trust in SiBox thermal energy storage technology. Our core belief is that it is renewable. Energy has now become a necessity and will grow substantially. We focus on storing electricity and providing renewable energy, providing long-term solutions for decarbonization, and bringing substantial returns to shareholders."

　　He also pointed out that this is a simpler solution than hydrogen technology. Of course, it is also considering the use of lithium batteries, especially low-cost lithium iron phosphate batteries, to improve power quality and revenue.

　　1414 Degrees is continuing to develop and construct the Aurora energy project in Port Augusta. The project was acquired by 1414 Degrees at the end of 2019 after the collapse of the US solar developer Solar Reserve. The project will deploy energy storage systems.

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect substitute for lead-acid batteries, and are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.

　　Solar power generation system with lithium battery energy storage system is a very promising clean energy.