3 Nov 2012

Windflow Technology looks to issue shares

11:02 am on 3 November 2012

Windflow Technology is looking to issue shares in the next two months in order to raise a substantial amount of money.

The company says it has spoken to some of its larger shareholders and is confident it can obtain sufficient funding to meet its $1.5 million requirement to June next year.

It is also in the process of securing bridging finance between now and when it closes its capital raising.

Windflow Technology exported its first turbine this month and is on track to be commissioned early next year.

The company says it has progressed the sale of turbines in the UK even further, with one site at the point of financial closure and another waiting for a grid offer.