Shark deterrent technology start-up to list on ASX

"Instead of Australia being the shark capital of the world, there is an opportunity for us to have the safest beaches in world," Ocean Guardian chief executive Lindsay Lyon says.

He's a man on a mission, with Ocean Guardian launching its initial public offering on Friday seeking to raise $5 million for the start-up's shark deterrent technology.

Ocean Guardian makes electrical shark deterrent products for surf boards and diving gear using a technology dubbed Shark Shield.

The technology is priced from $599 and works by creating a three-dimensional electrical field, which Ocean Guardian claims causes unbearable spasms in the sensitive receptors in a shark's snout, turning them away.

It's been selling out of stock since the West Australian government approved Shark Shield for its $200 rebate program.

Lyon bought Ocean Guardian five years ago with his business partner Amanda Wilson, with the goal of turning the start-up into a profitable business venture.

"We tried to bootstrap it and raise small amounts of capital but we have headed down this initial public offering path as it's very clear every time we get high growth we don't have capital to fund it," Lyon says. Read more