Finavera listed on Toronto exchange

Alternative energy company Finavera Renewables, which has development projects based in Ireland, has announced it is to begin trading on the Canadian stock exchange TSX-V from the market open today.

The listing was achieved via the reverse take over (RTO) of Cascade Minerals Inc. (Cascade), a TSX-V listed company.

The RTO, which constituted the company’s qualifying transaction with the TSX-V, values the Company at approximately CAD $35m (€22.8m).

CEO Jason Bak said: “This listing provides Finavera Renewables with a platform for growth as we continue to raise capital and advance our renewable energy projects and our wave energy technology.

“It gives investors the opportunity to actively participate in a company dedicated to developing renewable energy generation, the fastest growing energy sector in the world. We are also proud to present investors an opportunity to be involved in the only company listed on a North American exchange that is commercialising a wave energy technology.”

Finavera Renewables, originally conceived in Ireland is currently developing two wind power projects here: one at Cloosh Valley in Co Galway and one in Co Clare.