Catch the Wind secures $18.8M - Business First of Buffalo:

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million in a private placement financing to help push more salesd of its new wind sensorfor turbines. Manassas-baseds Catch the Wind, which trades on the Toronto Venture Exchange, sold roughly 16.7 millio shares at a price of Canadiah $1.30 apiece in what it hope to be its last major equituy financing before generating enougn revenue from itslaser wind-sensing product, Vindicator, to pay for Company officials also participated in the investmengt round, along with institutional bringing its total equity fundraising to date to nearly $35 , Research Capital Corp. and Canaccord Capital Corp.
served as placement agentx for this latest fundraising in return for 6 percengt of the gross proceeds and additionalstock options. Spun off last year from LLC, a fibe optics laser company that still shares the sameheadquarterxs space, Catch the Wind has been developin g similar technology that senses when wind is imminent, helpingh reorient a turbine to capture that wind before it passes. Most wind turbinews can realign its blades only afterf itfeels wind, so they’re oftenb too late to actually benefitf from gusts, company officials “Before, it was the horse-and-buggy approacb to measuring wind,” said Phil Rogers, who founded Optica l Air Data Systems nearly 20 years ago with his wife beforew leaving recently to serve as CEO for Catch the “Think about increasing the gas mileage of your car,” he “You’ve already bought your car.
But if I can sell you somethinf that doubles the gas mileage ofyour car, you woul save more money.” He estimate s the Vindicator can capture 10 percent to 30 percenft more wind for which in turn helps generate more clean electricituy and ultimately revenue for their operators. Catchj the Wind recently sold its first unitto , a Canadianj environmental monitoring equipment while starting its first two-month field test with the Nebrask a Public Power District on its largest wind farm with 36 wind The local company, which said it’s also talking to federal hopes to use that trial’as results later this summer to market to other wind turbind manufacturers and wind farm operators.
With six full-timed employees, 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 equivalents on hand as of Marcjh 31, is also considering whether to list itself on an Americabn exchange later this year. “We aspire to that,” Rogers said. “I just can’tr say when.”