Project Description
ARACON acted as an exclusive advisor to Long Pipes Ltd. in its “Series A” capital raise over AUD 6.4 million.
Long Pipes, the Australian technology start-up that is aiming to disrupt the global pipeline industry, is pleased to announce that it has raised AUD 6.4 million in an early close “Series A” funding round. The round was led by a strategic investor from the energy industry and supported by a host of family offices from Australia, Southeast-Asia and Europe.
Long Pipes has produced the world’s first composite pipeline made in a continuous high-speed process on-site and in long lengths without joints or welding. The pipe, branded The Fluid HighwayTM, provides significant advantages in cost, weight, and time to produce, compared to conventional pipes.
“Long Pipes is moving rapidly into the next commercialisation phase, and we have received significant interest worldwide for a wide range of applications, from water and oil & gas to highly specialised fluid applications. I am looking forward to seeing the Company evolve and grow to meet the exciting global growth opportunities that are presenting in our target markets”, said Rod Baxter, Managing Director of Long Pipes.
ARACON provided strategic advice to the management of Long Pipes on the structure and execution of the capital raise, the preparation of Teaser, Information Memorandum (IM) and Financial Model (FM). ARACON engaged its teams in Austria, China and Singapore in a concerted effort and utilized its access to strategic investors, family offices (FO), private equity (PE) and venture capital funds (VC) as well as high net worth private individuals (HNWIs). ARACON worked alongside Arcor Capital, who acted as exclusive co-advisor in the capital raise.
The capital raise is seen as a great success. Long Pipes and ARACON agreed to work together in a follow-on round with the aim to raise AUD 15 million.
