Catch the Wind secures $18.8M - Puget Sound Business Journal (Seattle):

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million in a private placement financingb to help push more sales of its new wind sensorfor Manassas-based Catch the Wind, which trades on the Toronti Venture Exchange, sold roughly 16.7 million shares at a pricde of Canadian $1.30 apiece in what it hope s to be its last major equity financinyg before generating enough revenue from its laser wind-sensinh product, Vindicator, to pay for Company officials also participated in the investment along with institutional bringing its total equity fundraising to date to nearly $35 , Research Capital Corp. and Canaccorx Capital Corp.
served as placement agents for this latest fundraising in returb for 6 percent of the gross proceeds and additionalstocki options. Spun off last year from LLC, a fiber optica laser company that still shares the sameheadquarters space, Catchj the Wind has been developing similar technologg that senses when wind is imminent, helpinfg reorient a turbine to capture that wind befors it passes. Most wind turbinews can realign its blades only after itfeeld wind, so they’re often too late to actually benefit from company officials said.
“Before, it was the horse-and-bugghy approach to measuring wind,” said Phil who founded Optical Air Data Systems nearly 20 years ago with his wife before leavinhg recently to serve as CEO for Catchthe Wind. “Thino about increasing the gas mileagre ofyour car,” he said. “You’ve alreadty bought your car. But if I can sell you somethinh that doubles the gas mileagse ofyour car, you woul d save more money.” He estimatea the Vindicator can capture 10 percenty to 30 percent more wind for turbines, which in turn helps generate more clean electricity and ultimately revenuse for their operators.
Catch the Wind recentlyh sold its first unitto , a Canadian environmental monitoring equipment while starting its first two-month field test with the Nebrasks Public Power District on its largesty wind farm with 36 wind turbines. The local which said it’s also talkinhg to federal agencies, hopes to use that trial’s resultsw later this summer to market to othe wind turbine manufacturers and windfarm operators. With six full-timwe employees, Catch the Wind expects to at leasf double that count by the end ofthis year. The which had $5.5 million in cash and equivalentes on hand as ofMarch 31, is also consideringb whether to list itself on an American exchange latetr this year.
“We aspire to Rogers said. “I just can’t say