Tech Top 5: 14D scores thermal storage deal with Woodside, shares jump 20%
Here are the biggest tech players in early trade, Wednesday October 13.
Up 20% was silicon-based thermal storage tech company 1414 Degrees, after announcing a deal with Woodside Energy Technologies Pty Ltd – a subsidiary of Woodside Energy (ASX:WPL) – to support further development and potential partnership for the commercialisation of its SiBox technology.
Woodside will contribute up to $2 million to the SiBox demonstration module, which produces around 1 MWh of power.
The validation project is scheduled to be commissioned in early 2023, upon which a series of operational tests will be performed into 2024.
“Woodside is Australia’s leading natural gas producer and we are delighted they have chosen to participate in the funding of the construction and testing of our SiBox demonstration module,” 14D CEO Matt Squire said.
“1414 Degrees is committed to demonstrating how our SiBox technology can contribute to the global energy transition.
“We believe that our technology has the potential to be a major component of future renewable energy projects due to its flexibility and capability in delivering high temperature heat.”
Following review of the testing program results, Woodside can then proceed to jointly develop and commercialise the SiBox technology – with 14D having an ownership interest in the SPV of not less than 51%.
The semiconductor player was up 10.44% after releasing its Q3 report today which highlighted unaudited revenue of US$6.1 million – a 117% increase quarter-over-quarter.
This also represents a 33% increase compared to the entire 1H21 revenue of US$4.6 million. During the quarter the company shipped the first of two 6EZ SiC Polishers shipped to its customer in Europe which is currently being installed at their facility, with the second tool scheduled to ship during Q122.
The company says the confirmed sales order backlog reflects the increased demand being seen, with a total sales order backlog of US$8.4 million as of 13 October 2021.
President and CEO Rebecca Shooter-Dodd said the company had delivered strong revenue growth during the quarter, as customers ramped up production.
“We continue to grow and convert opportunities in our pipeline – maintaining a high sales order backlog as we head into the last quarter of the fiscal year,” she said.
“Evaluation activity for the 6EZ SiC Polisher has continued during the quarter, and I believe we are well positioned to capitalize on what is set to be a high growth SiC market over the coming years.”
Worldwide installed capacity for power and compound semiconductor fabs is projected to top 10 million wafers per month (WPM) for the first time in 2023, growing to 10.24 million WPM (in 200mm equivalents) and climbing to 10.6 million WPM in 2024.
This growth in demand for wafers is expected to directly impact the demand for semiconductor wafer fab equipment – which is tipped to increase by 33.5% in 2021, resulting in a new record spend of US$81.7 billion.
Envirosuite was up 9.1% today after announcing it has joined NASA’s revolutionary X-59 supersonic consortium.
NASA is designing and building the X-59 research aircraft – a piloted, single-seat supersonic X-plane – with technology that it hopes will reduce the loudness of a sonic boom to that of a gentle thump.
Envirosuite has been contracted to provide a software platform that will collect, process and visualize data from the low-sonic boom flight tests.
This will enable NASA and members of the testing team to review the low sonic booms produced by aircraft together with the community response, in real time.
“We’re privileged to have been selected as part of the consortium for this exciting and cutting-edge project with HMMH and NASA,” CEO Jason Cooper said.
“This project represents new opportunities in the innovative area of aerospace, along with the future of Aviation.”
This contract has been included in the Q1 FY22 sales with approximately $100k in ARR and $750k in project revenue.
The SaaS company was up 6.9% today, after announcing the acquisition of 100% of TriLine GRC is expected to be completed on October 29, 2021.
TriLine is a market leading governance, risk and compliance SaaS company with customers in Australia, New Zealand, UK and Ireland. It will add 10 additional modules to Ansarada’s platform.
CEO Sam Riley said the acquisition radically extends the solutions Ansarada can offer in the Governance, Risk Management and Compliance (GRC) market.
“In today’s world, organisations must continually improve their risk management, audit, compliance and broader GRC and ESG practices,’ he said.
“It is exciting to expand our product solutions with a comprehensive GRC platform that enables organisations to gain visibility, improve performance and reduce the cost of their compliance and risk management activities.”
“With the majority of companies still managing GRC processes in a fragmented way, often via combinations of email and excel, the need to invest in a centralised SaaS solution to improve efficiency, gain trust with stakeholders and future proof their operations is becoming imperative.”
“Ansarada is now strongly positioned at the forefront of this adoption curve, which enables us to more rapidly capture a greater share of the $52.5 billion GRC market opportunity.”
Up 7.31% today was Spacetalk, which booked quarterly revenue growth of 4.9% in the September quarter as its expansion into the UK performed strongly.
“Our continued strong growth, despite intermittent Covid related restrictions is testament to Spacetalk’s quality and brand appeal in this emerging and fast-growing kids wearables category,” Spacetalk CEO Mark Fortunatow said.
“It is a validation of our brand positioning, quality and values baked into Spacetalk’s device and app ecosystem.”
“We are witnessing the beginnings of a very large, global, new smartwatch phone market for kids, through the growing demand for our devices and App.”
“Throughout, our original schools business continues to deliver strong, stable and high margin revenue, despite school closures in two of Australia’s largest states,” Fortunatow said.
The company said it had seen minimal supply chain delays, with recent power disruptions in China and that it has sufficient inventory for Q2 FY2022.