ITerum Energy
Early Stage
Low-cost, clean electric power
Overview
Platform
Castle Placement
Start Date
09/06/2022
Close Date
08/31/2023
Min. Goal
$25,000
Max. Goal
$5,000,000
Min. Investment
$250
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$2.00
Pre-Money Valuation
$44,618,784
Year Founded
2011
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
ITerum Energy, with a valuation of $44.6 million, is raising funds on Castle Placement. The company aims to manufacture and market modular power generation systems to convert waste heat into low-cost and environment-friendly electric power. ITerum Energy deploys innovative renewable energy solutions into key markets to generate clean electric power and manage risks. The business has several competitive advantages, including flexible and scalable architecture, end-to-end solutions, and scalability across a wide range of industries and heat sources. Mark Ryan founded ITerum Energy in May 2011. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $5,000,000. The campaign proceeds will be used for growth and expansion.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-290,125 |
$-448,321 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$11 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$3,097,299 |
$3,100,088 |
|
Short-Term Debt |
$898,510 |
$630,735 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$898,510 |
$630,735 |
Financials as of: 09/06/2022
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Founder Profile
ITerum Energy Founder Mark Ryan on Converting Waste Heat Into Energy
Burning fossil fuels is still the main method of generating energy throughout the world. With it comes an inevitable byproduct: waste heat, the leftovers that don’t get consumed. That heat energy has to go somewhere, though, so it escapes into the environment -- usually the atmosphere or bodies of water. The consequences are more greenhouse gasses and worsening climate change.ITerum Energy gives unused heat a purpose by storing it and converting it into electricity. The company determines which sources of energy are available at a site (including landfills, geothermal, and industrial waste heat) and uses what’s available with its modular, combinable conversion technologies. We reached out to founder and CEO Mark Ryan to hear more about the inspiration behind the company and how he gets scrappy.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.
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