Quidnet Energy
Growth Stage
Geomechanical pumped storage for renewable energy on demand
Overview
Platform
OurCrowd
Start Date
03/20/2023
Close Date
05/16/2023
Max. Goal
$2,250,000
Min. Investment
$0
Security Type
Convertible Note
Series
Pre-Seed
SEC Filing Type
RegD 506(c)
Valuation Cap
$70,000,000
Discount
25%
Year Founded
2013
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Quidnet Energy, with a valuation of $70 million, is raising funds on OurCrowd through Reg D 506(c) raise. The company provides geomechanical pumped storage for renewable energy on demand. The patented energy storage technology of Quidnet Energy stores energy as pressurized water under the ground and provides it at a lower cost than traditional energy storage technologies. Quidnet Energy has received a $10 million award from the US Department of Energy and has signed a $30 million contract with CPS. Joe Zhou and Howard Schmidt founded Quidnet Energy in 2013. The current crowdfunding campaign has a maximum target of $2.25 million. The campaign proceeds will be used to scale to the MW-scale operating module and expand the commercial deployment pipeline.
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