StorEn Technologies
StorEn answers the call for long-lasting, and affordable energy storage by developing evolutionary vanadium flow batteries.
Analytics
Raised to Date: $1,062,814
Aggregate Commitments $
Platform
StartEngine
Start Date
07/04/2019
Close Date
03/15/2020
Min. Goal
$9,996
Max. Goal
$1,070,000
Min. Investment
$252
Security Type
Equity - Common
Funding Type
RegCF
Series
Pre-Seed
Pre-Money Valuation
$28,100,000
Rolling Commitments $
Status
Funded
Reporting Date
03/31/2020
Days Remaining
Funded
% of Min. Goal
10,632%
% of Max. Goal
99%
Likelihood of Max
Funded
Avg. Daily Raise
$4,168
# of Investors
1,741
Momentum
Funded
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Location
Stony Brook, New York
Industry
Consumer Products, Goods & Services
Tech Sector
Cleantech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
StorEn Technologies, with a pre-money valuation of $28.05 million, is raising funds on StartEngine. The company has developed a patent-pending all-vanadium battery technology that promises to provide affordable and long-lasting energy storage. The proprietary technology of StorEn Technologies assures efficient, cost-effective, and durable batteries. StorEn Technologies was founded by Carlo Brovero and Angelo D’Anzi and has already raised more than $650,000 in previous rounds of funding. The current round of crowdfunding has a minimum target of $10,000 and a maximum target of $724,000. StorEn Technologies has filed four patent applications that secure its innovative IP, and the company has already secured its first order of $500,000 from Australia.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$400 |
$0 |
| ||
| ||
|
Net Income |
$-488,940 |
$-126,835 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$3,243 |
$15,007 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$3,243 |
$15,007 |
|
Short-Term Debt |
$35,458 |
$0 |
|
Long-Term Debt |
$35,458 |
$0 |
|
Total Liabilities |
$70,916 |
$0 |
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Summary of Crowdfunding Raises
| Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/30/2021 | StartEngine | $40,400,000 | $4,807,284 | Equity - Common | Active | RegA+ |
| 03/15/2020 | StartEngine | $28,100,000 | $1,062,814 | Equity - Common | Confirmed Closed | RegCF |
| 01/08/2019 | StartEngine | $0 | $659,824 | Equity - Common | Confirmed Closed | RegCF |
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