GACW

Overview

Raised to Date: Raised: $942,173

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Funding History

Total Commitments ($USD)

Platform

StartEngine

Start Date

07/26/2022

Close Date

11/23/2022

Min. Goal

$9,999

Max. Goal

$1,643,826

Min. Investment

$249

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    

Price Per Share

$2.24

Pre-Money Valuation

$39,970,598

Rolling Commitments ($USD)

Status

Funded

Reporting Date

11/30/2022

Days Remaining

Funded

% of Min. Goal

9,422%

% of Max. Goal

57%

Likelihood of Max

Funded

Avg. Daily Raise

$7,851

# of Investors

617

Momentum

Funded

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GACW

Year Founded

2019

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

Chandler, Arizona

Business Type

Growth

Company Website

GACW (Global Air Cylinder Wheels), with a valuation of $40 million, is raising funds on StartEngine. The company has reinvented the wheel by designing its patented Air Suspension Wheel. The wheel of GACW is an airless mechanical one made of steel with in-wheel pneumatic suspension. GACW’s green technology provides a cost-effective and eco-friendly alternative to pollutive rubber tires. The testing of GACW’s wheel solution has been tested by global miners, and additional Beta tests are to commence at mines sites in 2022. Dr. Zoltan Kemeny founded GACW in November 2019. The current crowdfunding campaign has a minimum target of $9,999.36 and a maximum target of $1,643,826.24. The campaign proceeds will be used for the installation of the ASWs in Chile and Australia.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$0	$0
COGS	$0	$0
Tax	$0	$0
Net Income	$-1,761,654	$-2,057,331

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$50,883	$37,310
Accounts Receivable	$0	$0
Total Assets	$1,366,056	$471,527
Short-Term Debt	$2,752,943	$330,155
Long-Term Debt	$113,063	$1,446,182
Total Liabilities	$2,866,006	$1,776,337

Financials as of: 07/26/2022

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Raise History

Offering Name	Close Date	Platform	Valuation/Cap	Total Raised	Security Type	Status	Reg Type
GACW	11/23/2022	StartEngine	$39,970,598	$942,173	Equity - Common	Funded	RegCF
GACW	04/08/2022	StartEngine	$27,409,856	$3,357,879	Equity - Common	Funded	RegCF

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A recent study estimates that rubber tires account for as much as 10% of all microplastic waste in the world’s oceans. Another study says 28%.

Rubber tires need to go. And the sooner the better. Governments are beginning to impose requirements on how rubber tires are disposed of. 

While a step in the right direction, it’s not nearly good enough. 

The only real long-term solution is getting rid of rubber tires altogether. And the first industry that has the most to gain from switching to non-rubber tires is mining. 

Thanks to one innovative startup — Global Air Cylinder Wheels (GACW) — it’s happening right now.

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