HWL Ebsworth advises on the IPO of 1414 Degrees
HWL Ebsworth acted for 1414 Degrees Ltd (ASX:14D), on its $16.3 million IPO and ASX listing, with trading of 14D shares commencing on 12 September 2018. Adelaide-based 1414 Degrees owns a patented Thermal Energy Storage System that utilises temperatures of up to 1414ºC and the latent heat properties of silicon to store and recover heat and electricity for industrial uses.
In 1414 Degree’s media release Executive Chairman, Dr Kevin Moriarty said that “The Company originated in Australia a decade ago, and our technology has long term, worldwide relevance as the adoption of renewable energy increases… This global support has enabled the Company to fund growth and achieve ASX listing from its own investor sources.”
The HWL Ebsworth team was led by Kate McKeough (Partner in the Commercial Group), with assistance from Sam Christie (Senior Associate) and Stephanie Kolaczkos (Solicitor).
Kate McKeough commented that “We are delighted to have been able to assist the 1414 Degrees team to achieve this significant milestone, both for 1414 Degrees itself, and in terms of the company’s ability to facilitate the further use of renewable energy nationally and globally. We look forward to the company’s ongoing success in the growing energy storage industry.”
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The firm comprises 1,240 staff including: 251 Partners, 633 other legal staff and 356 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Hobart, Melbourne, Norwest (North West Sydney), Perth and Sydney.
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