Aquarius has raised approximately $10.3 million from a group of investors, including strategic investors, company management, employees, and existing shareholders, at a 66% premium above market price

• The list of investors includes Elial Schleider, Alexander Chernyilovsky, Leon Recanati, company CEO and founder Gal Friedman, Chairman of the Board Yona Fogel, Canadian investors, as well as the company's marketing and development managers
• Within 12 months of signing, the company will act to register its shares for trading on the NASDAQ stock exchange.
• As a reminder, Aquarius' innovative systems generate and supply clean electricity, enabling ultra-fast charging of electric vehicles in the growing EV market. The systems are smaller and more efficient than existing market solutions and are independent of the power grid.

TEL AVIV, Israel, Jan. 21, 2025 /PRNewswire/ -- Aquarius Engines (TASE: AQUA) (1170240) is pleased to announce the successful completion of a $10.285 million capital raise from a group of private investors, company management, and additional employees.

According to Gal Friedman, CEO of Aquarius, "I am delighted by the confidence shown by the company's management, board of directors, employees, and especially by a group of significant investors who believe in Aquarius' vision for the electric vehicle world. We have closed several significant pilots in the U.S. with leading entities in their fields, and we are very optimistic about the feedback we are receiving on our revolutionary system. All our pilot projects are paid, and the companies we collaborate with are significant and leading in their fields, planning joint evaluation and implementation of our system."

Investment Details:

About Aquarius Engines

Aquarius Engines is an energy company specializing in developing and producing groundbreaking small generators for electricity production.

The company holds approximately 44 registered patents in the U.S. and other countries and around 43 additional patents currently in the registration process. Aquarius has been publicly traded on the Tel Aviv Stock Exchange since December 2020.

Aquarius's shareholders include major global players such as Tier-1 Japanese automotive companies, TPR (a leading piston manufacturer), MUSASHI (partially owned by Honda), and prominent institutional investors in Israel.

The Aquarius engine is a small, lightweight generator with only one moving part, offering exceptional power and efficiency. It stands as a highly competitive player with significant advantages in its field.

The company's initial target market is the telecommunications sector, where it collaborates with industry leaders such as Nokia to provide green backup power solutions for telecom towers. The core technology of Aquarius enables the use of a variety of fuels, including hydrogen, ethanol (E85), methanol, and LPG.

Aquarius plans to expand into additional markets, supplying its engines for truck power units, aviation, maritime, and defense propulsion solutions, as well as range extenders for the automotive industry.

Aquarius operates development and activity centers in Israel, Germany, and Poland.

Contact: odedm@aquariusengines.com

View original content:https://www.prnewswire.com/news-releases/aquarius-has-raised-approximately-10-3-million-from-a-group-of-investors-including-strategic-investors-company-management-employees-and-existing-shareholders-at-a-66-premium-above-market-price-302356059.html

SOURCE Aquarius Engines