StorEn Technologies
Renewable Energy Storage
Overview
Raised: $1,374,076
Total Commitments ($USD)
StartEngine
09/14/2022
04/30/2023
$249
Equity - Common
Series A
RegCF
$7.33
$60,172,534
Rolling Commitments ($USD)
04/30/2023
$6,053
996
2017
Consumer Products, Goods & Services
Cleantech
B2B/B2C
Medium
High
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$100,000 |
|
COGS |
$0 |
$92,647 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,588,160 |
$-1,042,756 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,923,450 |
$240,134 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$2,678,660 |
$383,101 |
|
Short-Term Debt |
$407,243 |
$531,029 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$407,243 |
$531,029 |
Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| StorEn Technologies | 04/28/2024 | StartEngine | $59,984,469 | $501,394 | Equity - Common | Active | RegCF |
| StorEn Technologies | 04/29/2023 | StartEngine | $60,172,534 | $1,374,076 | Equity - Common | Funded | RegCF |
| StorEn Technologies | 12/29/2021 | StartEngine | $40,400,000 | $8,657,825 | Equity - Common | Funded | RegA+ |
| StorEn Technologies | 03/14/2020 | StartEngine | $28,100,000 | $1,062,814 | Equity - Common | Funded | RegCF |
| StorEn Technologies | 01/07/2019 | StartEngine | $25,904,060 | $659,824 | Equity - Common | Funded | RegCF |
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.
Valuation History
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.
Employee History
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Analyst Report
We need alternatives to lithium-ion batteries for large energy storage. And that’s what StorEn Technologies is providing with its vanadium flow batteries.
StorEn’s vanadium batteries have two tanks of electrolyte solution, which store the electrical energy. The electric current travels from one tank to the other and is harvested for use using a cell stack. This system helps prevent discharge — the loss of electric energy — even when the battery isn’t actively supplying electricity. And unlike lithium-ion batteries, their energy storage capacity doesn’t decrease over time. After 30 years of use, vanadium flow batteries still store energy like they’re fresh out of the factory. And customers can use every bit of energy in the battery with no degradation.
The long lifespan of StorEn’s batteries makes them way cheaper in the long run than lithium-ion batteries, even if they are initially slightly more expensive. And unlike lithium-ion batteries, they are also easy to repair. Each component can easily be replaced if needed.
Vanadium flow batteries are bigger than lithium-ion batteries because of their mechanics. But from both a cost and environmental perspective, StorEn’s batteries are a more recyclable, non-toxic, and safer solution than lithium-ion for stationary systems.
So is StorEn Technologies the vanadium flow battery company you should invest in?