Dunedin-based Powerhouse Wind closed its equity crowdfunding campaign on PledgeMe yesterday reaching $140,000 over its goal. The tech startup raised a total of $542,051, selling 19.4% of the company to 120 investors.
Bill Currie, Powerhouse Wind’s director, revealed that he was happy with the successful raise:
“We are delighted to have both the opportunity to make a difference in the future of local renewable energy, and the support and endorsement of such a large group of investors.We are also keenly feeling the responsibility to make the most of the opportunity to validate that support and trust.”
Currie also shared there were many factors for Powerhouse Wind’s success.
“First and foremost of course are the investors making their decisions to support our new and innovative product. In the short term, PledgeMe made a great job of guiding and supporting the campaign and working primarily with Tim to ensure that the communications were full and accurate. And over the long term, I think the fact that we have a product and technology with a lot of development in place, and turbines in use was very positive.”
PledgeMe CEO Anna Guenther added that Powerhouse Wind was an example of a changing market:
“It’s amazing to see 120 investors from all over New Zealand get behind a company in such a high growth space. Equity crowdfunding means anyone can get behind awesome ideas like Powerhouse Wind’s Thin Air 2.0. Successes like this on PledgeMe show how things are changing in not only how we power our lives but how we fund the things we care about.”
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