Magnuss
Maritime Shipping Technology
Overview
Raised: $180,985
Rolling Commitments ($USD)
07/31/2022
$1,248
126
2013
Transportation, Automotive, Aviation, & Aerospace
Hardwaretech
B2B/B2C
Medium
High
Summary Profit and Loss Statement
Most Recent Year | Prior Year | |
---|---|---|
Revenue |
$0 |
$0 |
COGS |
$0 |
$0 |
Tax |
$0 |
$0 |
| ||
| ||
Net Income |
$-149,256 |
$-278,178 |
Summary Balance Sheet
Most Recent Year | Prior Year | |
---|---|---|
Cash |
$55,147 |
$29,415 |
Accounts Receivable |
$0 |
$0 |
Total Assets |
$243,459 |
$228,968 |
Short-Term Debt |
$83,530 |
$29,683 |
Long-Term Debt |
$0 |
$0 |
Total Liabilities |
$83,530 |
$29,683 |
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Founder Profile
Magnuss Founder Ted Shergalis Wants Global Shipping to be Eco-Friendly
When someone thinks of air pollution causes, they might immediately imagine cars. But water-based transportation is also taking its toll on the environment. One large ship can release as many hazardous chemicals as 50 million cars, and pollution from just 15 of the largest ships available can equal that of all the cars in the world put together.
As a maritime technology company that cares about both the environment and the shipping industry, Magnuss is determined to help both coexist in harmony. Its patented sail, the Magnus VOSS, is a wind-based propulsion system that considerably cuts down emissions from sea transportation. We reached out to co-founder, COO, and Director Edward “Ted” Shergalis to hear more about who is supporting the company and how Magnuss helped out other companies from early on.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.