Aquarius, which developed a small, green and economical internal combustion engine, today issued a final prospectus for the issuance of its shares on the Tel Aviv Stock Exchange, under the symbol AQUA. The prospectus shows that the company received investment obligations from institutional investors in the amount of NIS 214 million.
On Sunday, Aquarius is expected to enter the public phase of the offering in order to raise an additional NIS 5 million. Trading in the stock is expected to begin after the completion of the offering during the next week.
The offering is led by the underwriting companies of Orion, Epsilon and Poalim IBI, and the company is allocating the funds raised to finance and expand its current business activities. Even before the IPO on the Tel Aviv Stock Exchange, Aquarius entered into an investment agreement of up to $ 10 million with the Japanese giant TPR, a manufacturer that specializes in the production of pistons, spare parts and piston rings for vehicles.
Aquarius raised a total of $ 37 million before the IPO, and its notable investors include Marius Nacht, Leon Recanati, MAX (an importer of Scania in Israel), Dr. Gideon Stein (Mobilai’s chief scientist), Musashi Seimitsu from Japan and other investors.
Aquarius is aiming for a value of NIS 1 billion – so far no revenue, but there is a pilot with Nokia (for the full article). Indeed, the company will offer about 5.35 million shares, which is about 19% after the capital issue of the company. The share price will be NIS 35.9, reflecting a value of NIS 1 billion.
Gal Friedman, Chairman of Aquarius, said today: “We are excited to present a revolution in the world of motors, which has not changed in the last 150 years, to the Tel Aviv Stock Exchange and we are pleased with the great response and expression of trust of the largest and leading institutional bodies in Israel. We intend to leverage the capital raised to bring the tiny engine news to anywhere in the world. ”
The company has developed a small linear motor that weighs about 10 kilograms, with an internal combustion mechanism designed primarily for use with generators. Unlike traditional engines, the Aquarius engine has only one moving part and it converts fuel into electricity. Due to the size and light weight of the generator (100 kg) and its ability to produce energy it is less polluting.
According to Friedman, Aquarius’ tiny motor is a motor that will revolutionize the production of electricity from motors. “To this day and for the last 150 years, all the engines in the world have been working on rotary motion – that is, a gear rotating motor of an auto or alternator – and generating electricity. Aquarius challenges the rotary method.
“The technology behind Aquarius’ engine uses the linear motion of the engine to generate electricity, all without the energy losses that occur in the rotary motion method. Also, the tiny engine has very few parts, which makes it very cheap to manufacture. In addition, it does not require oil replacement. “Routine maintenance and therefore very suitable for installation in remote places – where maintenance is a challenge.”
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