HydroWorks has raised $1.45 million through equity crowdfunding on the Equitise platform. This formed part of a $4 million venture capital raise for 20% of the company, to provide working capital and pay for initial public offer costs. The company is planning to list on the ASX sometime between the second and fourth quarter of 2016.
HydroWorks has also been awarded a $5 million contract to design and build five mini-hydro stations for Melbourne Water, owned by the Victorian Government.
NBR 15 December 2015