Since 21 January Wave Swell Energy Ltd (WSE) has been conducting a capital raising round of A$500,000, with the submission of share applications officially closing on 28 February, 2020.

The company is very pleased to announce that this round has now been oversubscribed, attracting capital from both existing shareholders and new investors. This provides strong market support for the company, its technology, and the prevailing share price of $5.64.

This is a very positive result and augurs well for WSE, particularly as the construction of the King Island project nears completion.