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Oil Capital
Market: AIM
52-week High/Low: 120.00p / 61.00p
Sector: Energy
Market Cap: 30.82M
Address: Helgeshoj Alle 16-18, DK-2630 Taastrup, Denmark.

Windar Photonics is a technology group that develops cost-efficient and innovative Light Detection and Ranging (“LIDAR”) optimization systems for use on electricity generating wind turbines. LIDAR wind sensors in general are designed to remotely measure wind speed and direction.

Windar Photonics PLC

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Big picture - Why invest in Windar Photonics PLC

Windar Photonics PLC Snapshot

We are the result of a bright idea


We aim to be the most preferred provider of cost efficient and reliable lidar systems for wind turbines.


We are customer focused and are always visible, available and in direct dialogue with our customers.


We will keep introducing the latest lidar technology for the wind industry at a very competitive price.


Windar Photonics A/S is a young, forward-looking spin-off company from the Risø DTU research environment. In 2005, a research scientist had a bright idea for how to make wind sensing with LIDAR better and less expensive.


WINDAR is a contraction of WIND and LIDAR (Light Detection and Ranging).


This novel LIDAR architecture was developed through collaboration with the Technical University of Denmark and Photonics.


Three years later, a breakthrough came for a new system of measuring the wind accurately over long distances.


With a robust private equity fund behind it, Windar Photonics first saw the light of day in 2008. Since then, a team of innovative employees has joined the company, working to make wind turbines all over the world more effective.


Windar Photonics is a technology group that has developed a cost efficient and innovative Light Detection and Ranging (“LIDAR”) wind sensor for use on electricity generating wind turbines. LIDAR wind sensors in general are designed to remotely measure wind speed and direction.

WindEye™ Sensor

The Group’s key product is the WindEye™ Sensor which measures wind direction and wind speed by scanning a laser beam ahead of the wind turbine. The WindEye™ Sensor was designed for the general optimisation of wind turbines.


Based on the Group’s testing, it has proven possible for the WindEye™ Sensor to increase the power output of a wind turbine by approximately one to three per cent. and further reduce strain on vital components of the wind turbine. The WindEye™ Sensor has been designed to have a multi-year lifecycle with limited maintenance other than the replacement of the light source every two years. Due to the use of a semi-conductor laser, the Directors believe that the Company is able to offer the WindEye™ Sensor at a lower cost compared to competing products whilst still retaining an attractive margin.


The Directors believe that the WindEye™ Sensor can be differentiated from comparable products currently available on the market by its lower price and durability, which typically enables the Company to provide its customers with a return on investment within one to four years.


The Group has been granted a patent for the use of a semi-conductor laser in a LIDAR wind sensor in the USA and Russia with applications filed and pending in the EU, India, China and Japan. The Group has also been notified of the approval for grant of a patent in the EU.


The WindEye™ Sensor was released for commercial sale at the end of 2013 and, in the nine months ended 30 September 2014, Windar Photonics achieved revenue of DKK 5.9 million (EUR 792,724) from delivery of WindEye™ Sensors for installation to a combination of Wind Park Operators and OEMs. The Directors anticipate significant growth in future order volumes.

John Weston - Non-Executive Chairman

John Weston worked in the Aerospace and Defence industry for 32 years predominantly with BAE Systems plc where he ultimately became chief executive, leading a group with $20 billion in sales, employing 120,000 people, and was a member of the team credited with turning around the group’s fortunes in the 1990s.

John’s previous chairmanships include Acra Controls Ltd, AWS Electronics plc, Insensys plc, Inbis plc, iSOFT plc and Spirent plc and he currently acts as chairman of Fibercore, Accesso Technology Group plc and MB Aerospace Holdings Limited as well as being appointed a non-executive director of Torotrack plc.

John is a Vice President of the Royal United Services Institute. He has previously served on the council of the Royal Academy of Engineering, and the Prime Minister’s council for science and technology. In addition to his CBE, he is also a Commander of the Order of the Pole Star (Sweden) and a freeman of the City of London. John was educated at Trinity Hall Cambridge, where he read engineering.

Martin Rambusch - Chief Executive Officer

Martin Rambusch has worked in the wind turbine industry for more than seventeen years. He was the chief executive of Svendborg Brakes A/S which was sold to Doughty Hanson for EUR 460 million. Prior to this he was the chief executive of Dansk Synergi A/S. He has been involved in several acquisitions and turnarounds of smaller Danish companies. He has an Executive MBA from the University of Aarhus, a diploma degree in Business Administration from the University of Odense and is a qualified Export Technician from the Technical School of Odense.

Jørgen Korsgaard Jensen - part-time Chief Operating Officer and Founder

Jørgen Korsgaard Jensen is an expert in optical technology solutions and has been involved in Research & Development projects in the field of optical technology in collaboration with Risø DTU for twelve years. Prior to that he held leading positions in international companies with responsibilities for strategy, finance, purchasing and logistics. He is the chief executive and founder of OPDI Technologies, which develops and markets opto/electronic sensors primarily for consumer electronic products. Further, he is chief executive of the O-Net WaveTouch group, which develops and markets optical touch screen technologies.

The businesses of Windar Photonics and O-Net WaveTouch group were both initially created by, and are derived from businesses within, OPDI Technologies. As a result of these other positions Jørgen Korsgaard Jensen is employed by Windar Photonics on a part time basis. While he is currently employed by the Group in an executive position, the Company intends to appoint a new chief operating officer in 2015 to gradually take over Jørgen Korsgaard Jensen’s executive duties and the additional operations of the Group as it expands its activities. It is intended that Jørgen Korsgaard Jensen’s involvement with the Group will reduce and that, following appointment and integration of a new chief operating officer, he will step down to a non-executive role.

Simon Barrell - Senior Independent Non-Executive Director

Simon Barrell qualified as a chartered accountant with Arthur Young in 1983. He then joined an accountancy practice in Nairobi, Kenya as a Senior Manager. On his return to the UK in 1987, he joined Binder Hamlyn. In 1994 Simon was appointed finance director of Napier Brown & Company Limited and in 2003 as finance director of Napier Brown Foods plc. Since leaving Napier Brown Foods plc in 2005 he has acted in non-executive director and non-executive chairman capacities for a number of public companies and continues to act as an adviser to listed and non-listed companies.

Johan Blach Petersen - Non-Executive Director

Johan Blach Petersen is an experienced business development consultant and has provided such services through J. Blach Petersen Business Development A/S since 1987. He serves as Chairman in a number of companies including M2Film A/S, M2 Entertainment Ltd, London, Picture This Studio Ltd, Bangkok, Bila A/S, JMM Group A/S, Loevschall A/S, Trifork AG, Teknikgruppen A/S, Tuco Marine Group A/S, TrimIt A/S, Lindcon A/S Trekanten-Hestbæk A/S, Østergaard Møbelindustri A/S, Junget A/S and is a Board Member of Poul Tarp A/S, OPDI Technologies A/S, Global Car Leasing A/S, and Kinnan A/S. Prior to forming his own business he was a management consultant as well as he served as the Trade Commissioner for Denmark in Houston, Texas. Johan was educated at the Aarhus Business School, holding two business degrees: HA and HD.

Niels Vejrup Carlsen - Non-Executive Director

Niels Carlsen brings venture capital investment experience through his career at SEED Capital Denmark. He worked for Siemens where he spearheaded a rapid product development initiative and managed development partnerships with Apple and Microsoft. He also worked in the capacity of chief executive officer in two Danish internet startups in the media segment (Berlingske Online A/S and NetDoktor A/S). He holds a number of board positions in various companies such as Brain+, Vivino, watAgame, GoMore, Blackwood Seven, DealCircle and TRD Surfaces. He also holds a PhD in Software Engineering from the DTU and has worked with innovation, management and business development in the telecom, media and internet industries


SEED Capital Denmark II K/S 7,063,674 18.51
Pasinika S.a.r.l. 6,923,938 18.14
DTU Symbion Innovation A/S 4,175,333 10.94
M.M. 26 Holding A/S 4,033,973 10.57
Danmarks Tekniske Universitet 2,352,990 6.17
Milton Holding Horsens A/S 2,119,400 5.55
Artemis Investment Management LLP 2,000,000 5.24
J Blach Petersen BD A/S 1,947,286 5.10
Investeringsselskabet af 11 august 2005 1,659,101 4.35
Number of shares not in public hands 24,219,204 63.5

Head office

Windar Photonics A/S

Helgeshøj Alle 16-18

DK-2630 Taastrup, Denmark


Company Seretary

Edward Ratnam FCA

23 Chetwynd Park Cannock
Staffordshire WS12 0NZ

Registered Office
3 More London Riverside
London SE1 2AQ

Nominated Adviser, Joint Financial Adviser and Broker
Cantor Fitzgerald Europe
One Churchill Place
Canary Wharf
London E14 5RB
United Kingdom

Joint Financial Adviser to the Company
West Hill Corporate Finance Limited
60 Lombard Street
London EC3V 9EA

Legal Advisers to the Company as to UK law
Norton Rose Fulbright LLP
3 More London Riverside
London SE1 2AQ

Legal Advisers to the Company as to Danish law
Magnusson Advokatfirma
Frederiksgade 7, 3
DK- 1265 Copenhagen K

Auditors, Reporting Accountants and Tax Adviser
55 Baker Street
London W1U 7EU

Financial PR
Haggie Partners LLP
4 Sun Court
66-67 Cornhill
London EC3V 3NB

Share Registrars Limited
9 Lion and Lamb Yard
Surrey GU9 7LL

Windar Photonics PLC Timeline


Windar continues to fly in India

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