Dunedin start-up clean technology company Powerhouse Wind has reached its minimum crowd-funding goal through PledgeMe - $409,000 pledged by 79 people.
Powerhouse has designed and built a 2kW, single-blade wind turbine, called Thinair 102, which is being trialled at various South Island locations, including Clinton and French Pass.
About $1 million has been spent during five years of research and development.
Powerhouse director Bill Currie said the Thinair turbine was being developed to be the most cost efficient, energy efficient and reliable small wind turbine yet designed.
''We have a strong crowd of people out there who are interested in renewable energy,'' he said in a joint statement with PledgeMe yesterday.
The minimum offer was 69,325 ordinary shares at $5.77 each, up to a maximum of 155,979 shares, which would raise between $400,000 to $900,000, representing stakes of 14.3% to 27.3% in Powerhouse Wind Ltd.
Mr Currie said the research and development had been a ''costly exercise'', costing almost $1million to date, excluding ''endless hours'' of enthusiastic voluntary labour.
The capital-raising runs until 11pm on Thursday.
The new capital would allow Powerhouse to implement its business plan to commercialise the company by bringing in expertise in technical areas and also for sales, Mr Currie said.
