Airsynergy has announced it would open its last round of funding prior to changing its corporate status from a Private Limited company to a Plc. The Irish company has raised more than € 5 million to date in investment.
The move to change company status at the turn of the year will mean that Airsynergy shares are not listed on any stock exchange but can be possibly traded on the grey market at a future date via a stock-broking company. The new funding will primarily be used to drive Airsynergy’s product development while expanding its current national and global network of licensees to manufacture and sell products using its technology and, in particular, its wind turbine and wind-powered street lights. Next year, 2015 will see the turbine go to market. While the initial sales focus will be primarily on Ireland, the UK and the US where Airsynergy already has established licensees, the company is also targeting Denmark, Germany and the Middle East where it is currently in negotiations with a number of potential partners.