2040 Energy

2040 Energy

Closed: Feb. 2025

About this raise

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.

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Investment Overview

Invested this round:
$135,000 - RegCF
$195,000 - Total

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
05/14/2024
Close Date
02/07/2025
Min. Goal
$50,000
Max Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF / RegD 506(c)    Open SEC Filing

Early Bird Val. Cap

$3,500,000

Valuation Cap

$4,500,000

Discount

0%

Company & Team

Company

Year Founded
2021
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Location
Bloomington, Minnesota
Company Website
Visit Website

Team

Financials

as of Fiscal Year 2023
 Revenue
$0
 Monthly Burn
$4,091
 Runway
4.4 months

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

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
02/07/2025 Wefunder $4,500,000 $195,000 SAFE Funded RegCF / RegD 506(c)
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Add to portfolio
2040 Energy on Wefunder 2024
Platform: Wefunder
Security Type: SAFE
Valuation: $4,500,000

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Follow 2040 Energy on Wefunder 2024

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Warning: according to the close date for this deal, 2040 Energy may no longer be accepting investments.

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