Primo Energy

Primo Energy


About this raise: Primo Energy, with a valuation of $25 million, is raising funds on StartEngine. The company designs and builds energy platforms that combine solar, wind, and battery storage. The hybrid platforms can be fitted with USB charging and lights and provide energy for remote locations, island territories, and disaster relief. Primo Energy is also helping the next generation understand and bring in renewables with its educational training products and tools. Ned McMahon founded Primo Energy in 2019. The current crowdfunding campaign has a minimum target of $9,999.54 and a maximum target of $1,069,998.96. The campaign proceeds will be used to grow into new areas in the renewable energy space.

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Investment Overview

Invested this round: $72,214

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
11/17/2021
Close Date
03/10/2022
Min. Goal
$10,000
Max. Goal
$1,069,999
Min. Investment

$250

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.19

Pre-Money Valuation

$24,974,530

Company & Team

Company

Year Founded
2019
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
Location
San Diego, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
10
Prior Founder Exits?
No
Founder Name
Edward MacMahon
Title
CEO

Financials

 Revenue +17% YoY
$85,614
 Monthly Burn
$40,770
 Runway
2.3 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$85,614

$73,337

COGS

$150,449

$235,816

Tax

$0

$0

 

 

Net Income

$-489,238

$-1,066,070

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$92,277

$558,779

Accounts Receivable

$76,308

$423,847

Total Assets

$269,375

$1,108,092

Short-Term Debt

$339,226

$839,923

Long-Term Debt

$2,312,182

$2,410,964

Total Liabilities

$2,651,408

$3,250,887

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Company Funding & Growth

Funding history

Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Primo Energy 03/10/2022 StartEngine $24,974,530 $72,214 Equity - Common Funded RegCF
Primo Wind 07/16/2018 Microventures $5,000,000 $140,300 Convertible Note Funded RegCF
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Growth Charts

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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Primo Energy on StartEngine 2021
Platform: StartEngine
Security Type: Equity - Common
Valuation: $24,974,530
Price per Share: $2.19

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Follow Primo Energy on StartEngine 2021

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Warning: according to the close date for this deal, Primo Energy may no longer be accepting investments.

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