Airsynergy has announced that it has completed its latest funding round which values the company at €40 million.
The company has raised €2 million from existing and new investors in its fourth funding round over the past seven months. This brings to €5 million the total amount raised by Airsynergy from its directors and investors from Ireland and abroad in the past five years. The new funding will primarily be used to drive Airsynergy’s national and global network of capable licensees to manufacture and sell its wind turbine and wind-powered street lights. Airsynergy is planning a further funding round in 2014. Airsynergy has also revealed that Irish-American businessman Gerry Ryan, along with his business partners Brendan Ahern and Daniel Ahern, had taken a stake in Airsynergy.
