1414 Degrees Ltd (ASX: 14D) has completed all technical milestones under its SiBox Development Agreement with Woodside Energy Technologies Pty Ltd, securing full ownership of the intellectual property while preserving future commercial flexibility.
The company confirmed that Woodside will retain a non-exclusive licence, giving it the option to use the SiBox technology without converting its project funding into equity in a dedicated vehicle or pursuing co-commercialisation arrangements.
As a result, 1414 Degrees retains complete control of the SiBox IP, positioning it to advance partnerships, attract customers and progress independent commercialisation strategies.
SiBox is being developed as a long-duration thermal energy storage system aimed at enabling industrial decarbonisation and renewable energy integration.
Beyond the Woodside agreement, 1414 Degrees continues to progress multiple commercial opportunities, including its Heat-as-a-Service model for industrial operators and applications within the Aurora Energy Precinct.
Discussions are also underway with heavy industry stakeholders seeking affordable, carbon-reduced heat supply.
In parallel, the company is advancing its SiPHyR turquoise hydrogen technology in collaboration with Woodside and other partners.
Woodside previously committed $1 million to the project, comprising both direct funding and technical expertise, as announced in June 2024.
1414 Degrees said growth in global demand for long-duration energy storage underscores the strategic role of SiBox in supporting industrial energy transition initiatives.
