Renewable energy technology company Airsynergy is to open its last round of funding before changing its corporate status from a Private Limited company to a Plc.
Granard, Co Longford-based Airsynergy has raised over €5m in investment to date.
The company said that the move to change company status will mean that Airsynergy shares are not listed on any stock exchange but can be possibly traded on the grey market at a future date via a stockbroking company.
The new funds will be used mainly to drive the company's product development while expanding its national and global network of licensees to manufacture and sell products using its technology and, in particular, its revolutionary wind turbine and wind-powered street lights.
The company's turbine will go to market next year.
"Given the success of the company’s previous fundraising efforts, as a natural progression, we feel that a plc status listing is a step towards creating an exit event for our loyal and existing investors while also helping with a controlled structure for future growth and expansion," the company said.
