Surf Lakes Global shifts base to USA

The formerly Queensland-based wave pool developer Surf Lakes Global has advised of the creation of a new parent company, Surf Lakes Global, Inc., based in the USA state of Delaware.

Surf Lakes advise that the move to become a USA-based company follows “the successful approval of a Scheme of Arrangement process in late 2023 and full implementation as of January 2024.”

This new entity, Surf Lakes Global, Inc., is now the parent company for Surf Lakes, providing, as it says, “access and momentum into the US market.”

Surf Lakes advise that will maintain business operations out of Australia, including all research and development initiatives with the engineering team working at the Gold Coast and on-site at the research and development facility at Yeppoon.

Surf Lakes advise that move was made due to many factors, including:

• The USA represents a larger and more suitable market for Surf Lakes.

• The majority of Surf Lakes projects are in the USA.

• 43% of project enquiries to date have come from the Americas.

• The US has a much larger population than Australia (for perspective there are more people in Texas than Australia).

• Redomiciling in the US Awill yield improved access to USA capital markets.

• Allowing greater potential for investment in the immediate term and public listing opportunities in the medium-to-long term.

• Further strategic and business development opportunities.

• Closer and better connected to South America (Brazil represents another boom market for the wave pool industry).

In the wake of the move, Surf Lakes Chief Executive, Aaron Trevis, will be moving to the USA to join Surf Lake’s US-based staff in the California Office.

The company advises “the redomicile will not affect ongoing business operations, as Surf Lakes will continue to maintain staff operating from the Australian office on the Gold Coast, Australia. Surf Lakes is also raising capital in Australia to upgrade the Yeppoon facility into a commercial facility.”

For more information go to www.surflakes.com