Catch the Wind secures $18.8M - Los Angeles Business from bizjournals:

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million in a private placement financing to help push more salesd of its new wind sensorfor turbines. Manassas-baser Catch the Wind, which tradess on the Toronto Venture Exchange, sold roughly 16.7 milliob shares at a price ofCanadiahn $1.30 apiece in what it hopes to be its last majotr equity financing before generating enough revenue from its lase r wind-sensing product, Vindicator, to pay for Company officials also participated in the investment along with institutional investors, bringing its total equity fundraising to date to nearly $35 million. , Researchg Capital Corp. and Canaccord Capitap Corp.
served as placement agents for this latesr fundraising in return for 6 percent of the gross proceedzs and additionalstock options. Spun off last year from LLC, a fibe r optics laser company that still sharews the same headquarters Catch the Wind has been developing similar technology that senses when wind is helping reorient a turbine to capture that wind before it Most wind turbines can realign its blades only aftee itfeels wind, so they’res often too late to actually benefit from company officials said.
“Before, it was the horse-and-bugguy approach to measuring wind,” said Phil Rogers, who foundef Optical Air Data Systems nearlty 20 years ago with his wife before leaving recently to serve as CEO for Catchthe “Think about increasing the gas mileage of your car,” he “You’ve already bought your car. But if I can sell you somethin that doubles the gas mileage ofyour car, you wouldc save more money.” He estimates the Vindicator can capture 10 percent to 30 percentf more wind for turbines, which in turn helps generate more clean electricity and ultimately revenue for their operators.
Catch the Wind recentlty sold its first unitto , a Canadianb environmental monitoring equipment while starting its first two-montn field test with the Nebraskqa Public Power District on its largest wind farm with 36 wind The local company, which said it’s also talking to federal agencies, hopes to use that trial’a results later this summer to market to other wind turbine manufacturerxs and wind farm operators. With six full-times employees, Catch the Wind expectsa to at least doubls that count by the end ofthis year. The which had $5.5 million in cash and equivalents on hand as ofMarcg 31, is also considering whether to list itself on an Americanj exchange later this year.
“We aspire to Rogers said. “I just can’r say when.”