PurposeEnergy
About this raise
PurposeEnergy, with a valuation of $16.8 million, is raising funds on StartEngine. The company develops solutions that change food and beverage manufacturing waste into renewable energy, clean water, and fertilizer. The solutions of PurposeEnergy reduce the cost of waste remediation and produce carbon-neutral biogas to replace fossil fuels. The Tribrid-Bioreactor of PurposeEnergy has three primary configurations, including magnumDigester, metaDigester, and mobiDigester. Eric Fitch founded PurposeEnergy in June 2007. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1,069,998. The campaign proceeds will be used to hire and train staff at the existing facilities.
Investment Overview
Invested : $13,606
Deal Terms
Total Commitments
- Platform
- StartEngine
- Start Date
- 05/13/2022
- Close Date
- 08/10/2022
$10,000
$1,069,998
$250
Equity - Common
Growth Stage
RegCF
$2.00
$16,780,076
Company & Team
Company
- Year Founded
- 2007
- Industry
- Energy, Power, & Natural Resources
- Tech Sector
- Distribution Model
- B2B
- Margin
- Low
- Capital Intensity
- High
Financials
- Revenue +80% YoY
- $2,827,901
- Monthly Burn
- $18,431
-
Runway
- 11.9 months
- Gross Margin
- 14%
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $0
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 08/10/2022 | StartEngine | $16,780,076 | $13,606 | Equity - Common | Funded | RegCF |