Wello raises EUR 2 million through crowdfunding
Finnish wave energy company Wello has closed a successful round on crowdfunding platform Invesdor, reaching its maximum target of two million euros.
Investments started to skyrocket after news emerged last week of Wello’s deal with Chinese conglomerate CIMC to introduce its wave technology in China.
In response to the crowdfunding campaign, Wello commented on its website, “A big thank you to all the investors which made it possible to hit our two-million maximum target. We look forward to a successful 2018 and the years to come.”
Wello is a pioneer in wave energy technology and, after more than a decade of development work, its Penguin wave energy converter (WEC) has finally been commercialised. The wave energy field is still vastly unexplored and valued at over 74 billion euros.
Interested to learn more about Finnish pioneering efforts in wave energy technology? Our feature offers some insights.