FuelGems

FuelGems

Early Stage

A revolutionary fuel additive which makes fuel much cleaner and more efficient

A revolutionary fuel additive which makes fuel much cleaner and more efficient

Overview

Raised to Date: Raised: $791,207

Total Commitments ($USD)

Platform

Wefunder

Start Date

09/03/2020

Close Date

11/19/2020

Min. Goal
$100,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$8,500,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

11/29/2020

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$10,275

# of Investors

1,149

Momentum
Funded
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Year Founded

2019

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Cleantech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Location

Austin, Texas

Business Type

High Growth

FuelGems, with a valuation cap of $8.5 million, is raising funds on Wefunder. The company has developed a fuel additive that improves the cleanliness and performance of diesel, gasoline, and biofuel. The additives of FuelGems are highly effective and affordable and generate up to 1,000% ROI for users. Kirill Gichunts founded FuelGems in March 2019. The current crowdfunding round has a minimum target of $100,000 and a maximum target of $1,070,000. The funds will be used for laboratory and hardware, primary payroll, lean marketing, and manufacturing facility. FuelGems has a client pipeline of multi-billion companies, including BP, Suncor Energy, and Marubeni. The additive is expected to revolutionize the fuel industry by decreasing emissions, increasing lubrication, and saving fuel.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-47,175

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$24,025

$909

Accounts Receivable

$0

$0

Total Assets

$27,825

$27,825

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 09/03/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
FuelGems 04/29/2024 Republic $17,500,000 $445,935 SAFE Active RegCF
FuelGems 02/17/2023 StartEngine $15,000,762 $180,076 Equity - Common Funded RegCF
FuelGems 04/28/2022 StartEngine $12,000,000 $1,395,837 Equity - Common Funded RegCF
FuelGems 11/19/2020 Wefunder $8,500,000 $791,207 SAFE Funded RegCF
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FuelGems on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $8,500,000

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