Hydro Wind Energy
Game-changing innovations in offshore wind power and seawater desalination
Overview
Raised: $512,639
Total Commitments ($USD)
Platform
Republic
Start Date
11/23/2022
Close Date
01/23/2023
Min. Goal
$25,000
Max. Goal
$4,250,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$120,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
01/31/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$8,404
# of Investors
565
Momentum
Funded
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Year Founded
2020
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B
Margin
Medium
Capital Intensity
High
Hydro Wind Energy, with a valuation of $120 million, is raising funds on Republic. The company has developed a highly innovative technology, OceanHydro Omni, to harness offshore wind. The technology, combined with the power of subsea oceanic pressure, provides reliable, clean, and low-cost energy and energy storage. The other products of Hydro Wind Energy include SubSea RO Wind and QuenchSea for seawater desalination. Lee King, Maryam Hassani, Hayk Vasilyan, Abdulla Ghaly, and Laura Dryden founded Hydro Wind Energy in July 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $4.25 million. The campaign proceeds will be used for growth and expansion.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$184,463 |
$0 |
|
COGS |
$67,189 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-349,346 |
$-213,076 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$333,300 |
$135,666 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,054,547 |
$425,066 |
|
Short-Term Debt |
$1,369,256 |
$429,225 |
|
Long-Term Debt |
$34,555 |
$106,870 |
|
Total Liabilities |
$1,403,811 |
$536,095 |
Financials as of: 11/23/2022
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Hydro Wind Energy | 01/23/2023 | Republic | $120,000,000 | $512,639 | SAFE | Funded | RegCF |
| Hydro Wind Energy | 09/22/2022 | StartEngine | $119,643,700 | $148,657 | Equity - Common | Funded | RegCF |
| Hydro Wind Energy | 04/30/2022 | Republic | $70,000,000 | $529,590 | SAFE | Funded | RegCF |
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