2040 Energy

2040 Energy

Early Stage

Zero-emissions heat for homes with radiators

Zero-emissions heat for homes with radiators

Overview

Raised to Date: Raised: $67,350

Total Commitments ($USD)

Platform

Wefunder

Start Date

05/13/2024

Close Date

09/16/2024

Min. Goal
$50,000
Max. Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$3,500,000

Valuation Cap

$4,500,000

Discount

0%

Rolling Commitments ($USD)

Status

Active

Reporting Date

05/21/2024

Days Remaining

117

% of Min. Goal

135%

% of Max. Goal

5%

Likelihood of Max
possible
Avg. Daily Raise

$8,419

# of Investors

33

Momentum
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Year Founded

2021

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Location

Bloomington, Minnesota

2040 Energy, with a valuation of $4.5 million, is testing the waters on Wefunder. The company aims to eliminate fossil fuel-building heat worldwide by the year 2040. 2040 Energy is developing a high-temperature heat pump to generate zero-emissions heat for homes with radiators. The company has a working demonstration prototype and has $480,000 in homeowner pre-orders. Joseph Strommen founded 2040 Energy in 2017. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for constructing a mobile test chamber, outsourced engineering and fabrication, test unit materials, marketing, and salaries.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-49,094

$-46,018

Summary Balance Sheet

FY 2023 FY 2022

Cash

$17,992

$56,001

Accounts Receivable

$0

$0

Total Assets

$17,992

$56,001

Short-Term Debt

$61,085

$50,000

Long-Term Debt

$0

$0

Total Liabilities

$61,085

$50,000

Financials as of: 05/13/2024
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2040 Energy on Wefunder 2024
Platform: Wefunder
Security Type: SAFE
Valuation: $4,500,000

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