This company is no longer in business. Investors can get details about any potential exits or failures here.

Manta Biofuel

Manta Biofuel

Early Stage

Reinventing crude oil, renewably this time

Reinventing crude oil, renewably this time

Overview

Raised this Round: Raised: $542,021

Total Commitments ($USD)

Platform

StartEngine

Start Date

03/09/2023

Close Date

09/20/2023

Min. Goal
$14,998
Max. Goal
$750,000
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

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

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

FY 2021 FY 2020

Revenue

$14,160

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-1,096,114

$-420,149

Summary Balance Sheet

FY 2021 FY 2020

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: 03/09/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Manta Biofuel 09/19/2023 StartEngine $8,983,563 $542,021 Equity - Preferred Funded RegCF
Manta Biofuel 07/14/2021 Republic $6,000,000 $1,861,738 SAFE Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Company Updates

When we think of making the switch to renewable energy, we often think in terms of electrification: switching from coal to wind and solar, powering cars with batteries instead of gasoline, or installing heat pumps and electric stoves in houses instead of gas furnaces and stoves.

But electrification only solves part of the energy problem. Some equipment needs lots of energy delivered at high power rates without taking up too much space. Think airplanes, boats, trucks, and factories. For these use cases, batteries are currently too big, too expensive, and too weak.

That’s why the world still needs fuels. And startups like Manta Biofuel are working to develop sustainable and petroleum-free fuels.

View Company Update

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Add to portfolio
Manta Biofuel on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Preferred
Valuation: $8,983,563
Price per Share: $2.10

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