PurposeEnergy
Growth Stage
Digest this.
Overview
Raised: $13,606
Total Commitments ($USD)
Platform
StartEngine
Start Date
05/12/2022
Close Date
08/10/2022
Min. Goal
$10,000
Max. Goal
$1,069,998
Min. Investment
$250
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$2.00
Pre-Money Valuation
$16,780,076
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$153
# of Investors
22
Momentum
Funded
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Year Founded
2007
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
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.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$2,827,901 |
$1,571,648 |
|
COGS |
$2,436,451 |
$1,328,894 |
|
Tax |
$7,484 |
$3,951 |
| ||
| ||
|
Net Income |
$-221,173 |
$-562,815 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$220,087 |
$249,494 |
|
Accounts Receivable |
$474,058 |
$202,291 |
|
Total Assets |
$5,431,615 |
$3,003,520 |
|
Short-Term Debt |
$261,544 |
$903,617 |
|
Long-Term Debt |
$2,356,655 |
$1,523,883 |
|
Total Liabilities |
$2,618,199 |
$2,427,500 |
Financials as of: 05/12/2022
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