Power Panel

Power Panel

Closed: Jan. 2023

About this raise

Power Panel, with a pre-money valuation of $7.02 million, is raising crowdfunding on Wefunder. The company has developed its patented PVT technology which is the future of energy. The technology is hybrid solar thermal and captures the solar energy for both generating electricity and heating water. Rob Kornahrens and Garth Schultz founded Power Panel in November 2016. The proceeds of the current crowdfunding round, with a minimum raise of $50,000 and a maximum raise of $1,070,000, will be used towards management team salaries, sales and marketing, operating overhead, and general working capital needs. The Power Panel product has over ten years of research behind it and is ready for market. The business has projected annual revenue of $20 million by 2025.

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Investment Overview

Invested this round: $247,519

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
06/29/2021
Close Date
01/18/2023
Min. Goal
$50,000
Max Goal
$1,070,000
Min. Investment

$100

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$100.00

Pre-Money Valuation

$7,015,000

Company & Team

Company

Year Founded
2016
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Oxford, Michigan
Business Type
Growth
Company Website
Visit Website

Team

Employees
8
Prior Founder Exits?
No
Founder Name
Garth Schultz
Title
President
Founder Name
Robert Kornahrens
Title
CEO

Financials

 Revenue -96.2% YoY
$7,030
 Monthly Burn
$36,828
 Runway
0.6 months
Gross Margin
47%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$7,030

$184,422

COGS

$3,703

$113,719

Tax

$0

$0

 

 

Net Income

$-441,936

$-1,173,738

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$23,494

$46,848

Accounts Receivable

$0

$10,308

Total Assets

$361,194

$386,865

Short-Term Debt

$1,913,554

$7,972,839

Long-Term Debt

$0

$0

Total Liabilities

$1,913,554

$7,972,839

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
01/18/2023 Wefunder $7,015,000 $247,519 Equity - Common Funded RegCF
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Power Panel on Wefunder 2021
Platform: Wefunder
Security Type: Equity - Common
Valuation: $7,015,000
Price per Share: $100.00

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