Windflow Rights Issue Raises $3 Million

13 June 2005

The renounceable rights issue to Windflow Technology shareholders had raised more than $3 million for the company when it closed on Friday.

"We're very happy with the result," said Windflow's Chief Executive Officer Geoff Henderson. "It will enable us to continue with the testing and certification programme for our prototype and to complete the first turbines for the Te Rere Hau wind farm."

The Company's wholly owned subsidiary, NZ Windfarms was recently granted a resource consent for the Te Rere Hau wind farm, and plans to list on the New Zealand stock exchange later this year.