Bluerise beats OTEC crowdfunding target

Dutch developer Bluerise has opened its crowdfunding campaign for overfunding after reaching the initial target of €250,000 weeks before the end of the campaign.

Bluerise launched the crowdfunding campaign on October 19, 2017, with the initial target of €250,000 meant for use for the company’s ocean thermal energy conversion (OTEC) project in the Caribbean.

After reaching the target just days after the crowdfunding launch, Bluerise decided to open the campaign to overfunding, targeting €500,000.

“To increase our impact and the growth of Bluerise as a company, we have decided to open our campaign for overfunding. Our first overfunding goal is another €250,000 (total €500,000), which will allow us to speed up not just one but both of our current projects in the Caribbean,” Bluerise said.

Bluerise’s Caribbean plans include constructing OTEC plants in Curaçao and Jamaica. The company said earlier the first operating plant is expected by 2019.

At this moment, the crowdfunding website states that Bluerise secured €378,000 in funding with 23 days left until the campaign closes.

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