Gravity Power

Gravity Power

Early Stage

Scalable clean energy solution

Scalable clean energy solution

Overview

Raised to Date: Raised: $70,932

Total Commitments ($USD)

Platform

PicMii

Start Date

03/25/2024

Close Date

04/27/2024

Min. Goal
$10,000
Max. Goal
$1,000,000
Min. Investment

$250

Security Type

Equity - Preferred

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.75

Pre-Money Valuation

$25,496,381

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/15/2024

Days Remaining

11

% of Min. Goal

709%

% of Max. Goal

7%

Likelihood of Max
unlikely
Avg. Daily Raise

$3,378

Momentum
cold.svg
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Year Founded

2008

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Location

Goleta, California

Gravity Power, with a valuation of $25.5 million, is raising funds on PicMii. The company is developing energy storage technology that reduces carbon emissions. Gravity Power’s technology raises and lowers a piston hydraulically in an underground shaft to store energy, thereby reducing costs and minimizing environmental impacts. The company is in the pre-revenue stage and has key relationships with leading companies, including Stantec, the Robbins Company, and many more. William Stevens Taber Jr. and Orlo James Fiske founded Gravity Power in November 2008. The current crowdfunding campaign has a minimum target of $9,999.75 and a maximum target of $999,999.75. The campaign proceeds will be used for operations and research and development.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-404,797

$-480,108

Summary Balance Sheet

FY 2023 FY 2022

Cash

$864

$864

Accounts Receivable

$0

$0

Total Assets

$96,795

$62,292

Short-Term Debt

$1,979,066

$1,622,156

Long-Term Debt

$1,959,852

$1,877,463

Total Liabilities

$3,938,918

$3,499,619

Financials as of: 03/25/2024
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Gravity Power 04/27/2024 PicMii $25,496,381 $70,932 Equity - Preferred Active RegCF
Gravity Power 12/10/2023 StartEngine $25,209,241 $242,010 Equity - Preferred Funded RegCF
Gravity Power 02/07/2019 Netcapital $11,072,292 $0 Equity - Common Not Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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Gravity Power on PicMii 2024
Platform: PicMii
Security Type: Equity - Preferred
Valuation: $25,496,381
Price per Share: $0.75

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