Fundraising to support growth
Windar has recently completed a subscription raising £1.25m (gross) at 82p/share. The funds from the placing will be used to support growth during H217. Our estimates and valuation remain suspended until the interims, when there should be more clarity on test programmes with independent power providers (IPPs) and wind turbine OEMs converting to volume sales.Windar Photonics is a technology group that has developed and sells a Light Detection and Ranging sensors (LIDAR) and associated products for use on electricity generating wind turbines. LIDAR wind sensors in general are designed to remotely measure wind speed and direction. Co.'s main products are the WindEye™ and WindVision™ Sensors which measure the wind speed at different measuring points by scanning a laser beam ahead of the wind turbine.
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