Wello’s investment campaign ran for a month on the crowdfunding investment website Invesdor, offering the chance to purchase equity in the company.
The initial crowdfunding goal was set at 1-million euros which Wello surpassed after a week of the campaign. With news of Wello’s deal with Chinese conglomerate CIMC the investments started to skyrocket, raising by 60% in less than a week.
The 2-million euros in investments, shows that there is a need for stable renewable energy sources and a demand for Wello’s solutions. The wave energy market potential is still vastly unexplored and estimated at over 74 billion euros. Wello is one of the first companies which have received commercial orders for wave energy converters, and is set on the track to continue to grow; bringing clean, continuous and economically viable wave energy device to the worlds coastlines.
A big thank you to all the investors which made it possible to hit our 2-million maximum target. We look forward to a successful 2018 and the years to come.