The ASX is no stranger to experimental battery technology.

Carnegie Clean Energy (ASX:CCE), Redflow (ASX:RFX), UltraCharge (ASX:UTR) and LWP Technologies (ASX:LWP) have all tested energy storage technology in the marketplace with varying levels of success.

The latest contender is 1414 Degrees, whose prospectus for a $30 million to $50 million Initial Public Offering opened this week.

1414 Degrees is raising money at 35c a share to develop its molten silicon battery: a method where heat energy is stored by melting containers of silicon.

1414 says its tech is 10 times cheaper than lithium batteries.

“The company is positioning itself in a large and growing energy storage systems market and is developing products in response to customer demand for combined heat and power solutions,” said chairman Dr Kevin Moriarty.

One cleantech analyst Stockhead spoketo  believed the technology was sound.

1414 is entering the market at a time when energy storage technology has increasing market acceptance.

The 100 megawatt Tesla battery system at the Hornsdale wind farm in SA has been proved to be able to do what it said on the box — smoothing power fluctuations and saving the State about $35 million already.

The Victorian government is planning to build two large-scale batteries, while cities like Townsville and companies such as Shell are either installing or investing in the tech in Australia.

1414 Degrees has spent $15 million over the past decade developing the tech, and plans to use the IPO funds to move into the next stage of development.

It plans to build four pilot plants of its thermal energy storage systems at industrial sites, and further develop the technology.

The company is selling 52 per cent of itself on the ASX, and at the time the prospectus was issued the top four shareholders were all family superannuation funds — not institutions or government organisations.

The anticipated ASX listing date for the shares is July 3.

More information here: 1414degrees.com.au