EnergyX
EnergyX develops next generation battery technology and direct lithium extraction technology.
Overview
Raised: $3,039,768
Total Commitments ($USD)
Platform
Netcapital
Start Date
05/10/2021
Close Date
08/20/2021
Min. Goal
$10,000
Max. Goal
$3,934,064
Min. Investment
$104
Security Type
Equity - Common
Series
Series A
SEC Filing Type
RegCF
Price Per Share
$8.00
Pre-Money Valuation
$306,492,600
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/31/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$29,802
Momentum
Funded
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Year Founded
2018
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B
Margin
High
Capital Intensity
High
EnergyX, with a post-money valuation of $310.4 million, is raising funds on NetCapital. The company is leading the global transition to renewable energy. It has developed the next-generation battery technology, direct lithium extraction technology, and built Lithium-ion Transport and Separation( LiTAS). Teague Egan founded EnergyX in 2018 and has raised over $9.7 million since the inception. The current crowdfunding campaign has a minimum raise of $10,000 and a maximum raise of $3,934,064. The proceeds of the raise will be used towards intellectual property, battery design, pilot plants, marketing, accounting, and other expenses. EnergyX already has agreements with four of the top ten lithium producers of the world. The company’s technology will improve lithium recovery rates from 30% to 90%.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,804,525 |
$-786,027 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$422,900 |
$159,939 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$524,554 |
$171,801 |
|
Short-Term Debt |
$555,000 |
$0 |
|
Long-Term Debt |
$1,552,330 |
$313,000 |
|
Total Liabilities |
$2,107,330 |
$313,000 |
Financials as of: 05/10/2021
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| EnergyX | 03/10/2023 | Dalmore Group | $475,000,000 | $4,991,565 | Equity - Common | Funded | RegA+ |
| EnergyX | 08/20/2021 | Netcapital | $306,492,600 | $3,039,768 | Equity - Common | Funded | RegCF |
| EnergyX | 05/09/2021 | Netcapital | $306,492,600 | $0 | Equity - Common | Funded | Test the Waters / RegCF |
| EnergyX | 02/05/2021 | Netcapital | $54,114,620 | $1,521,935 | Equity - Common | Funded | RegCF / RegD 506(c) |
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