Windar Photonics, the developer of innovative wind sensors, launches IPO on AIM
Today it is announced that Windar Photonics has been listed on AIM London Stock Exchange in pursuit of growth. The valuation of the company is approximately 54 million dollars.
The Company is led by an experienced Board, chaired by John Weston CBE, previously chief executive of BAE Systems plc and a former member of the Prime Minister’s council for science and technology. He is joined by executive directors Martin Rambusch (CEO) and Jørgen Korsgaard Jensen (COO and founder), as well as non-executive directors Simon Barrell, Johan Blach Petersen and Niels Vejrup Carlsen.
Martin Rambusch, Windar’s CEO, commented: “Windar’s admission to trading on AIM is another milestone in the Company’s journey. Admission to AIM raises the profile of the Company and its cost effective and innovative WindEye™ Sensor product, which both improves efficiency and prolongs the life of wind turbines, and provides a great platform for the future growth of the business. The Windar team is looking forward to continuing the success story and to building our presence on AIM.”
Windar Photonics is behind the WindEye ™, which is able to, with advanced laser technology, measure wind direction and speed in front of wind turbines in a way that allow for optimal energy production and minimal wear. Windar Photonics originates from DTU and has received funding from a number of business angels. SEED Capital invested in the company in 2011 and we are impressed with how fast they have gone from prototype to being a global player within their field. SEED Capital sees Windar Photonics as a textbook example of how to go from idea to commercialization.
“The cooperation between CEO Martin Rambusch and founder Jørgen Korsgaard Jensen has worked extremely well. The management deserves a huge pat on the back for their efforts. We are positively surprised as to how the company has been received on the UK stock market and we are looking forward to the further development of the company,” says Investment Director, Niels Vejrup Carlsen, who also sits on the board of Windar Photonics.
Call for small cap
Leading up to listing, Windar Photonics has been successful in raising approximately 9 million dollars. SEED Capital is pleased that the market has shown the company the trust that an IPO requires, but calls for an equally efficient capital market in Denmark.
“The process of the listing has been faster than we expected and that is a learning we will take with us. Raising capital this way is definitely something that we will consider going forward. I would like for Denmark to have an equally well functioning small cap stock exchange. This would greatly benefit small Danish businesses, “says Managing Partner in SEED Capital, Ulla Brockenhuus-Schack.
Source: Press Release