$700,000 raised. Momentum builds. Wind Harvester turbines coming.
Dear Investors and Wefunder followers,
On December 11, we had our first close with almost $400,000 in promissory notes sent to early investors. Since then, we have almost doubled that and are on track to have our second close of $1.2M occur near the end of January. This early success in raising capital is allowing us to rapidly move forward on many fronts.
On December 15, we wired Weissenborn the funds they need to manufacture one Wind Harvester v3.1. It should be finished and ready to ship in 14 weeks - mid-April. We have decided to change the testing location to UL's Advanced Wind Turbine Testing Facility in Texas. This delays the installation for a month because of shipping time from Denmark, but all of its positives make it worthwhile. (e.g. nearness to our U.S. team, less expensive to set up and connect to the grid).
The surge in investment has allowed us to spend more time and resources on engineering and planning. This last week, we made the final major remaining decisions on the v3.2 design. We are optimistic that we will be able to complete the engineering well ahead of schedule and at lower cost than originally anticipated. With the money saved and what we continue to bring in, we can invest more in finding and advancing projects in our sales pipeline and achieving other milestones. All of this is increasing the valuation we can expect to realize in our Series B round scheduled to begin in the summer.
Already, over 675 people have invested and will share in the environmental and monetary value we will create. It is an added satisfaction that so many people who would not normally have a chance to invest in a company in our stage of development will have an equity stake in Wind Harvest. We are gratified that our crowdfunding investment offering will share the wealth we are creating with so many.
Stay safe and please let your friends know about this opportunity. It won't be available much longer.
President, Wind Harvest Pilot Project
Board member, Wind Harvest International