Catch the Wind secures $18.8M - Denver Business Journal:

steel roof tiles
million in a private placemeny financing to help push more sales of its new wind sensorfor Manassas-based Catch the Wind, which trade on the Toronto Venture Exchange, sold roughly 16.7 millioh shares at a price of Canadianm $1.30 apiece in what it hopes to be its last major equity financing before generating enough revenude from its laser wind-sensing product, to pay for operations. Company officials also participatecd in the investment along with institutional bringing its total equit fundraising to date tonearly $35 , Research Capital Corp. and Canaccord Capital Corp.
served as placemeny agents for this latest fundraisingb in return for 6 percent of the gross proceedse and additional stock Spun off last yearfrom LLC, a fibere optics laser company that stilk shares the same headquarters space, Catcb the Wind has been developing similar technology that senses when wind is helping reorient a turbine to capturs that wind before it passes. Most wind turbines can realigj its blades only after itfeelsw wind, so they’re often too late to actuallyt benefit from gusts, company officials said.
it was the horse-and-buggy approach to measurinh wind,” said Phil who founded Optical Air Data Systemw nearly 20 years ago with his wife before leaving recently to serve as CEO for Catchthe “Think about increasing the gas mileage of your he said. “You’ve already bought your car. But if I can sell you somethinh that doubles the gas mileag e ofyour car, you wouldx save more money.” He estimates the Vindicator can capture 10 percenty to 30 percent more wind for turbines, which in turn helps generate more clean electricity and ultimately revenue for theie operators.
Catch the Wind recentl sold its first unitto , a Canadian environmental monitoringv equipment maker, while starting its first two-monthb field test with the Nebraska Publif Power District on its largest wind farm with 36 wind The local company, which said it’s also talkingb to federal agencies, hopes to use that trial’sd results later this summer to market to othed wind turbine manufacturers and wind farm With six full-time employees, Catc h the Wind expects to at least double that count by the end of this The company, which had $5.
5 million in cash and equivalentzs on hand as of Marcy 31, is also considering whether to list itselc on an American exchange later this “We aspire to that,” Rogers “I just can’t say when.”