The Danish startup Waturu conducts an IPO at Nasdaq First North. The goal is to raise between 20 and 23 million Danish kroner to grow the organization and set up a full-scale semi-automated production in Denmark.
The Accelerace alumnus Waturu is going public at Nasdaq First North, the alternative stock exchange for small growth-focused companies in the Nordics. They aim at raising between 20 and 23 million Danish kroner with their energy-efficient decentral water heater.
“To commercialize Waturu’s potential, we need capital to initiate the setup of full-scale semi-automated production, grow our organization, and deploy bigger marketing efforts. An IPO ensures transparency for our investors and grants them the opportunity to buy and sell without being tied down by ownership agreements which make transactions more difficult,” says Toke Reedtz, CEO of Waturu.
He also sees a great opportunity to ride the wave of attention such an IPO will create. Thereby, Waturu’s brand perception will be reinforced and the desired ambassador effect to enhance sales generated.
“Moreover, an IPO on Nasdaq First North gives us the financial structure to keep Waturu on Danish ground and still let us access international capital networks in the coming growth phase and tap into partnerships around the world,” says Toke Reedtz.
Making green business good business
Through Accelerace and the Nordea Matchmaking network, Waturu got introduced to two business angels whereof one is the latest investor in the startup. What makes Waturu interesting is not only the green profile but also the fact that they make green business good business, too.
Waturu has developed an innovative water technology with the overall environmental purpose of saving water and energy while reducing CO2. Waturu’s technology transfers electricity directly into the water, resulting in instant heating and elimination of bacteria.
The technology, therefore, challenges the way in which we currently heat, treat and consume water and has the potential to disrupt the water industry. Compared to district heating solutions with circulation, the Waturu solution saves 75% in water usage and 94% in energy usage.
”We turn off our cars when we don’t use them and we should do the same with our hot water infrastructure,” says Toke Reedtz.
Waturu wants to become Vestas for water
Looking past the hopefully successful IPO will be the first step to reach the company’s full global potential: “To our investors – existing as well as the new – we seek to become the next Vestas within water treatment,” explains Toke Reedtz.
The Waturu stock offering will begin on 29 April 2019. If you are interested in investing in the Danish Green Tech Company go to https://www.waturu.com/the-ipo