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Dutch aquatic drone developer RanMarine Technology files for a $17 million US IPO

July 11, 2023

RanMarine Technology, a Dutch maker of drones designed to remove pollution and waste from water surfaces, filed on Tuesday with the SEC to raise up to $17 million in an initial public offering.

RanMarine is a cleantech company that designs, manufactures, and sells autonomous surface vessels (ASVs), also known as aquatic drones, focused on harvesting harmful plastic pollutants, algae/biomass, and oils from water while collecting critical water quality data. Its product plan consists of a line of ASVs, docking and transport products, an online management portal (RanMarine Connect), and data sensors. Currently, one ASV (the WasteShark) is available for purchase or lease, though the company expects to launch another ASV in the 4Q23 and two other ASVs in the 2H24.

The Rotterdam, Netherlands-based company was founded in 2016 and plans to list on the Nasdaq but has not selected a symbol yet (RC ticker: RMRN.RC). RanMarine Technology filed confidentially on December 1, 2022. Aegis Capital Corp. is the sole bookrunner on the deal. No pricing terms were disclosed.