Manta Biofuel

Early Stage

Reinventing crude oil, renewably this time

Overview

Raised to Date: Raised: $167,001

Total Commitments ($USD)

Platform

StartEngine

Start Date

03/10/2023

Close Date

04/30/2023

Min. Goal

$14,998

Max. Goal

$1,299,999

Min. Investment

$210

Security Type

Equity - Preferred

Series

Series B

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.10

Pre-Money Valuation

$8,983,563

Rolling Commitments ($USD)

Status

Active

Reporting Date

03/23/2023

Days Remaining

38

% of Min. Goal

1,113%

% of Max. Goal

13%

Likelihood of Max
unlikely
Avg. Daily Raise

$12,846

# of Investors

217

Momentum
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Year Founded

2018

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Location

Owings Mills, Maryland

Business Type

Growth

Company Website

Manta Biofuel, with a valuation of $8.9 million, is raising funds on StartEngine. The company is using algae to make a renewable and cost-efficient replacement for crude oil. The algae biofuel will have net negative carbon dioxide emissions and will be a direct fossil fuel replacement. Manta Biofuel has raised funds from the US Department of Energy and the State of Maryland and has signed $1 million in LOIs. Ryan Powell founded Manta Biofuel in June 2018. The current crowdfunding campaign has a minimum target of $14,998.20 and a maximum target of $1.3 million. The campaign proceeds will be used for marketing, research and development, company employment, operations, and the cost of goods sold.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$14,160

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-1,096,114

$-420,149

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1,077,424

$218,623

Accounts Receivable

$0

$0

Total Assets

$1,197,817

$297,391

Short-Term Debt

$446,995

$417,880

Long-Term Debt

$350,000

$250,000

Total Liabilities

$796,995

$667,880
Financials as of: 03/10/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Manta Biofuel 04/30/2023 StartEngine $8,983,563 $167,001 Equity - Preferred Active RegCF
Manta Biofuel 07/15/2021 Republic $6,000,000 $1,861,738 SAFE Funded RegCF
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Manta Biofuel on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Preferred
Valuation: $8,983,563

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