Laminera Flow Optimization, which is developing a device to provide active flow control in fluid pipe transportation, filed on Friday with the SEC to raise up to $17 million in an initial public offering.
Because the company is planning to offer units with warrants attached, Laminera Flow Optimization will be excluded from Renaissance Capital's 2022 IPO stats.
Laminera Flow Optimization is currently developing a device that introduces pressure waves within pipes in order to reduce drag in the flow of fluids such as oil, gas, and water. This effect is designed to be sustainable for a significant pipe length and thereby introduce energy savings regarding input pump work. Once a new generation of the prototype has been completed, the company will create a control software to monitor upstream and downstream pressure as well as finalize a program for automatic control.
The Netanya, Israel-based company was founded in 2017 and plans to list on the Nasdaq but has not selected a ticker yet (RC ticker: LMFO.RC). Laminera Flow Optimization filed confidentially on May 17, 2022. Aegis Capital Corp. is the sole bookrunner on the deal. No pricing terms were disclosed.
