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
Avg. Daily Raise
$6,369
# of Investors
2,994
Momentum
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Location
Owings Mills, Maryland
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
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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