Icarus RT

Icarus RT

Early Stage

Hybrid PV/Thermal Solar Plus Storage Cogeneration System

Hybrid PV/Thermal Solar Plus Storage Cogeneration System

Overview

Raised to Date: Raised: $372,423

Total Commitments ($USD)

Platform

Wefunder

Start Date

11/10/2021

Close Date

01/30/2022

Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

Convertible Note

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$18,500,000

Valuation Cap

$20,000,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

01/30/2022

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

$4,655

# of Investors

74

Momentum
Funded
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Year Founded

2016

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Location

San Diego, California

Business Type

Growth

Icarus RT, with a valuation of $20 million, is raising funds on Wefunder. The company has developed its revolutionary technology that helps to capture twice the energy from the sun with only a minor increase in the cost. The Quartet Hybrid Solar Energy technology combines solar photovoltaic technology with solar hot water systems to generate the desired results. Icarus RT helps to reduce the ROI from 6-8 years to about three years and is most suitable for high-density housing, industrial, and commercial buildings. Mark Anderson founded Icarus RT in October 2016. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,070,000. The campaign proceeds will be used for manufacturing, commercialization, and sales and marketing.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-611,129

$-276,059

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$376

$7,756

Accounts Receivable

$75,000

$0

Total Assets

$80,488

$13,004

Short-Term Debt

$135,180

$0

Long-Term Debt

$999,158

$727,500

Total Liabilities

$1,134,338

$727,500

Financials as of: 11/10/2021
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Icarus RT on Wefunder 2021
Platform: Wefunder
Security Type: Convertible Note
Valuation: $20,000,000

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