Swedish wave developer Seabased has hit 40% of its around €500,000 equity crowdfunding target less than a week after the launch.
The company said it had raised around €200,000 since the campaign on the crowdfunding platform Invesdor went live on 3 April.
The price per share was set at €0.95 with a minimum investment requirement of 750 shares.
The funding round is open until 6 May and has a maximum subscription limit equivalent to around €1.5m.
The funds will be used to scale production resources, develop the R&D and testing processes of its wave technology, and for business development.
Seabased said it has a project pipeline of over 2.5GW.
Image: Seabased
Seabased sailing to funds target
By EBS