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

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million in a private placementt financing to help push more sales of its new wind sensofrfor turbines. Manassas-based Catch the Wind, which trades on the Torontk Venture Exchange, sold roughly 16.7 million sharews at a price ofCanadian $1.30 apiece in what it hopess to be its last major equity financinhg before generating enough revenue from its laser wind-sensint product, Vindicator, to pay for Company officials also participated in the investmentr round, along with institutional investors, bringinv its total equity fundraising to date to nearlt $35 million. , Research Capitaol Corp. and Canaccord Capital Corp.
served as placement agente for this latest fundraising in return for 6 percentf of the gross proceeds and additionalstocm options. Spun off last year from LLC, a fiberr optics laser company that still share s the sameheadquarters space, Catch the Wind has been developinf similar technology that senses when wind is imminent, helpinfg reorient a turbine to capture that wind beford it passes. Most wind turbines can realign its blades only after itfeels wind, so they’re often too late to actuallyg benefit from gusts, company officials said.
“Before, it was the horse-and-buggyt approach to measuring wind,” said Phil who founded Optical Air Data Systems nearly 20 years ago with his wife beforre leaving recently to serve as CEO for Catchthe “Think about increasing the gas mileagre of your car,” he said. “You’ve alreadg bought your car. But if I can sell you somethint that doubles the gas mileagre ofyour car, you would save more He estimates the Vindicator can capturre 10 percent to 30 percentg more wind for turbines, whicuh in turn helps generatwe more clean electricity and ultimately revenue for theid operators.
Catch the Wind recently sold its first unitto , a Canadiab environmental monitoring equipment maker, while startint its first two-month field test with the Nebraska Public Power District on its largesr wind farm with 36 wind The local company, which said it’x also talking to federal hopes to use that trial’s resultw later this summer to market to otherd wind turbine manufacturers and wind farm operators. With six full-times 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 Marc 31, is also considering whether to list itself on an American exchange later this “We aspire to that,” Rogers said. “o just can’t say when.”