Wine cork company aiming to go global – Breaking News – Business – Breaking News: “Wine cork technology company ProCork is seeking to raise $3 million to help fund global expansion.
The $3 million in convertible notes will be used to establish a European office and to build a new manufacturing plant.
ProCork produces a natural cork with a membrane at each end of the cork which the company says regulates the delivery of oxygen to bottled wine, reduces evaporation, prevents taint and retains the flavour of the wine.
ProCork said it had sold nearly 10 million units, equivalent to one per cent of the Australian market in the six months since the release of the cork.
The company said it had forward orders for another 2.8 per cent of the market and a projection of 10 per cent over the next 12 months.” read more…