Manta Biofuel

Reinventing crude oil, renewably this time

Analytics

Raised to Date: $1,070,000

Aggregate Commitments $
Platform

Republic

Start Date

11/04/2020

Close Date

04/30/2021

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$150

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$6,000,000

Discount Rate

25%

Rolling Commitments $
Status

Active

Reporting Date

04/21/2021

Days Remaining

8

% of Min. Goal

4,280%

% of Max. Goal

100%

Likelihood of Max
exceeded
Avg. Daily Raise

$6,369

# of Investors

2,994

Momentum
cold
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Location

Owings Mills, Maryland

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Business Type

High Growth

Manta Biofuel, with a valuation cap of $6 million, is raising funds on Republic. The company is using algae to make a renewable and cost-efficient replacement of crude oil. The algae biofuel will have net negative carbon dioxide emissions and will be a direct fossil fuel replacement. Ryan Powell founded Manta Biofuel in June 2018 and has raised over $3 million in previous rounds of financing. The current crowdfunding round has a minimum raise of $25,000 and a maximum raise of $1,070,000, and the funds will be used for growth and expansion. Manta Biofuel has raised funds from the US Department of Energy and State of Maryland and has signed $1 million in LOIs.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$0

$113

COGS

$0

$1,790

Tax

$0

$0

 

 

Net Income

$-169,922

$-126,378

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$44,174

$262,089

Accounts Receivable

$0

$0

Total Assets

$437,027

$566,058

Short-Term Debt

$258,971

$219,202

Long-Term Debt

$350,000

$350,000

Total Liabilities

$608,971

$569,202

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