Qnetic

Early Stage

Mechanical battery—the sustainable energy revolution

Overview

Raised to Date: Raised: $394,008

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/26/2022

Close Date

04/30/2023

Min. Goal

$250,000

Max. Goal

$1,200,000

Min. Investment

$200

Security Type

SAFE

Series

Seed

Funding Type

RegCF

Valuation Cap

$15,000,000

Discount Rate

25%

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/02/2023

Days Remaining

87

% of Min. Goal

158%

% of Max. Goal

33%

Likelihood of Max
likely
Avg. Daily Raise

$10,369

# of Investors

253

Momentum
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Location

New York, New York

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Business Type

High Growth

Qnetic, with a valuation of $15 million, is raising funds on Wefunder. The company has developed a power-to-power flywheel energy storage system that is sustainable, long-life, and low-cost. The energy storage system takes in electricity, converts it into the kinetic energy of a spinning rotor, and stores it as momentum with very low losses. Qnetic’s system is the solution to solar and wind power intermittency and aims to transition civilization to sustainable energy. Michael Pratt and Loic Bastard founded Qnetic in September 2022. The current crowdfunding campaign has a minimum target of $250,000 and a maximum target of $1.2 million. The campaign proceeds will be used for filing initial patents, designing and building its lab-scale prototype, testing, market research, R&D, and operational expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-40,760

$-3,358

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$26,194

$7,056

Accounts Receivable

$0

$0

Total Assets

$36,454

$7,056

Short-Term Debt

$1,757

$0

Long-Term Debt

$78,815

$10,414

Total Liabilities

$80,572

$10,414

Financials as of: 12/26/2022
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Qnetic on Wefunder 2022
$
Platform: Wefunder
Security Type: SAFE
Valuation: $15,000,000

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