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

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million in a private placement financingy to help push more sale of its new wind sensorrfor turbines. Manassas-based Catch the Wind, whicjh trades on the Toront oVenture Exchange, sold roughly 16.7 milliomn shares at a price of Canadian $1.30 apiece in what it hopes to be its last major equity financintg before generating enough revenue from its lasedr wind-sensing product, Vindicator, to pay for operations. Company officials also participatedc in theinvestment round, along with institutionak investors, bringing its total equity fundraising to date to nearly $35 , Research Capital Corp. and Canaccord Capital Corp.
servecd as placement agents for this latest fundraising in returnn for 6 percent of the groses proceeds and additionalstock options. Spun off last year from LLC, a fiber optics laser company that still sharesw the sameheadquarters space, Catcgh the Wind has been developing similar technology that sensexs when wind is imminent, helping reorient a turbine to capturw that wind before it passes. Most wind turbines can realigjn its blades only after it feels so they’re often too late to actually benefi t from gusts, company officials “Before, it was the horse-and-buggy approachb to measuring wind,” said Phil who founded Optical Air Data Systemsw nearly 20 years ago with his wife before leavinhg recently to serve as CEO for Catcb the Wind.
“Think about increasing the gas mileage of your he said. “You’ve already bought your car. But if I can sell you somethinb that doubles the gas mileage ofyour car, you woule save more money.” He estimates the Vindicator can capturd 10 percent to 30 percent more wind for turbines, which in turn helpws generate more clean electricity and ultimately revenus for their operators.
Catch the Wind recentlyu sold its first unitto , a Canadian environmental monitoring equipment maker, whil starting its first two-monthg field test with the Nebraskaq Public Power District on its largest wind farm with 36 wind The local company, which said it’s also talking to federakl agencies, hopes to use that trial’s results lateer this summer to market to other wind turbinwe manufacturers and wind farm operators. With six full-time Catch the Wind expects to at least double that count by the end of this The company, which had $5.5 million in cash and equivalentsx on hand as of March 31, is also considering whether to list itself on an American exchange lated this year.
“We aspire to that,” Rogers “I just can’t say