Aquarius Engines Secures $10.3 Million in Funding to Power Electric Vehicle Innovations
Key Investors Join Forces to Support Innovative Clean Energy Solutions
- The investors include Elial Schleider, Alexander Chernyilovsky, Leon Recanati, CEO and founder Gal Friedman, Chairman of the Board Yona Fogel, as well as Canadian investors and company management staff.
- The company plans to register its shares for trading on the NASDAQ stock exchange within 12 months following the signing.
- Aquarius’ systems provide clean electricity for ultra-fast charging of electric vehicles, enhancing the growing EV market. Their solutions are compact, efficient, and do not rely on the power grid.
TEL AVIV, Israel, Jan. 21, 2025 /PRNewswire/ — Aquarius Engines AQUA (1170240) is excited to announce a successful capital raise of $10.285 million from an impressive group of private investors, management, and employees.
Gal Friedman, CEO of Aquarius, expressed his enthusiasm, stating: “I am thrilled by the confidence shown by our management team, board, employees, and our significant investors who share our vision for the electric vehicle industry. We’ve successfully initiated several major pilot programs in the U.S. with leading organizations in their fields, and we’re optimistic about the positive feedback on our innovative systems. All pilot projects are revenue-generating with partners who are planning future evaluations and implementations of our technology.”
Investment Overview:
- Elial Schleider’s Agreement:
- Total investment of $8 million, with $3 million exchanged for 4,344,000 shares.
- Additionally, Mr. Schleider will receive 2,172,000 Series A warrants at no cost, which are exercisable for the same number of shares at an exercise price of $0.97 (3.5 ILS) per share, valid for 18 months.
- Once conditions are met, Mr. Schleider plans an additional investment of $5 million for 5,171,429 shares.
- If this investment occurs, he will also receive 2,585,715 Series B warrants at no charge, exercisable for shares at the price of $1.1 (4 ILS) per share, valid for 18 months.
- Agreement with Alexander Chernyilovsky:
- Investment of $2 million for 2,896,000 shares.
- Mr. Chernyilovsky will also obtain 1,448,000 warrants at no cost, exercisable for shares at $0.97 (3.5 ILS) per share, for 18 months.
- Agreements with Three Significant Stakeholders:
- Insight Capital, Gal Friedman, and Yona Fogel will invest $100,000, $13,800, and $13,800, respectively, for 144,800, 20,000, and 20,000 shares at $0.69 (2.5 ILS) per share.
- They will also receive 72,400, 10,000, and 10,000 warrants, respectively, exercisable at $0.97 (3.5 ILS) per share for 18 months.
- Agreements with Four Other Investors:
- A total investment of $37,000 for 54,000 shares at $0.69 (2.5 ILS) per share.
- These investors will receive 27,000 warrants at no charge, exercisable for shares at $0.97 (3.5 ILS) per share, valid for 18 months.
About Aquarius Engines
Aquarius Engines specializes in creating innovative small generators for electricity production, holding 44 patents and an additional 43 patents in process.
The company has been publicly traded on the Tel Aviv Stock Exchange since December 2020. Major shareholders include top global automotive manufacturers and key institutional investors from Israel.
The Aquarius generator stands out as a lightweight device with just one moving part, delivering excellent power and efficiency, making it a strong competitor in its sector.
Initially targeting the telecommunications market, Aquarius partners with companies like Nokia to provide eco-friendly backup power solutions.
Future expansions into trucking, aviation, maritime, defense, and automotive industries are on the horizon for Aquarius, broadening their innovative engines’ applications.
Development operations are based in Israel, Germany, and Poland.
Contact: odedm@aquariusengines.com
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SOURCE Aquarius Engines
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