What does it mean when Surf Lakes says, “We are ready to build, once funded. Invest now!”?
For a little over $5K you can own a piece of Surf Lakes.
The Surf Lakes business machine is actively pursuing multiple initiatives at the moment that include ad posts on Instagram. The move marked a departure from a previous strategy in which social media users and the public at large were simply fed a steady diet of engaging clips. It worked. Surf Lakes and their plunger is one of the most iconic wave pool inventions to date, and under the marketing savvy of Brad Hutchins, soon everyone including non-surfers knew of the plunger system.
Surfers want to know when they can have their own up-close-and-personal plunger experience. Surf Lakes informed WavePoolMag that they are finalising approvals and funding for two sites that will begin soon.
In this article we take Surf Lakes’ pulse, including updated plans for Yeppoon, setting anchor in America, their partnership with Gatehouse Capital and CEO Aaron Trevis’ recent directive, “We are ready to build, once funded. Invest now!”
Coming to America
Early this year Surf Lakes pulled up shop so to speak and skipped across the Pacific to secure footing in America. The newly formed Surf Lakes Global, Inc., headquartered in Delaware, now serves as the parent company to Surf Lakes. The move was initiated to capitalize on the expansive US market and facilitate the company’s growth.
Surf Lakes has since been raising capital for first projects in Australia and USA.
“The biggest recent milestone is the move to USA, rolling up into our parent company, Surf Lakes Global Inc to raise capital that will fund the first commercial project,” said Aaron. “The recent USA investor meetings (Reg D – accredited investors) and global promotion for our Reg S round is bringing a strong response and with the minimum investment of only $5,100USD we are living out our motto of “Everyone Gets a Break” as anyone in the world can now invest into the future of surfing, by owning a part of Surf Lakes.”
Aaron said that the current round closes on August 31, 2024. They will raise the share price after that date as they venture into the next round of funding.
In another announcement the company has refined the commercial design to simplify and reduce cost, citing multiple sources for high-quality steel manufacturing in Asia, Brazil, Mexico and the USA. Surf Lakes said this will facilitate easier builds in various locations across the globe.
And the overall strategy?
“The goal is to begin construction in Australia this year for opening in 2025,” said Aaron Trevis. “From there, we focus on the roll-out of an early partner project in the USA, before expanding into other regions.”
Yeppoon
This month an independent advisory and management firm specialising in the hotel and hospitality sector entered a partnership with Surf Lakes. Gatehouse Capital announced they will arrange a tailored debt financing solution and advise the company on project financing for its wave pool and integrated masterplan in central Queensland.
The move follows a recent launch of new renders. In May this year Surf Lakes Capricorn Coast Pty Ltd aired new “ immersive surf retreat”designs for the Yeppoon facility.
The revised concept includes a progression and wellness center focused on coaching and relaxation, as well as dining areas situated to maximize the site’s stunning views of raw Queensland. Visitors will also have all the modern surf park bells and whistles including breakout rooms for one-on-one video feedback, a pavilion for mobility exercises or training, hot and cold plunge pools, and a skate ramp.
Aaron Trevis reiterated that the Surf Lakes Capricorn Coast (SLCC) has full planning approval to upgrade the machine at Yeppoon and open a resort surfing destination as soon as possible. He added that it’s just a matter of time and capital.
“We are draining the lake, cleaning up the 97-acre site and raising capital to start the build,” said Aaron. “Investors are welcome via Surf Lakes Global or directly into the SLCC project.”
The Plunger, or simply ‘Bob’
In early conversations with Surf Lakes, Aaron referred to the giant plunger as Bob. Both surf platforms and mainstream press lavished dystopian futuristic adjectives for the basic Surf Lakes design. Then Surf Lakes gave Bob a redesign.
New artwork shows various design options for different Surf Lakes facilities, all of which scream “urban sports” or “resort destination” more than “post-apocolyptic-device-powered-anchor-facility.”
“The renders in this video walk you through three different worlds that Surf Lakes developments will commonly exist in: Resort, Sports Precinct, and Urban,” the company said in a statement.
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