StorEn Technologies
[Closed for Investment] StorEn Technologies, with a valuation of $60.2 million, is raising funds on StartEngine. The company has developed a patent-pending all-vanadium battery technology that promises to provide affordable and long-lasting energy storage. The proprietary technology of StorEn Technologies assures efficient, cost-effective, and durable batteries. StorEn Technologies has secured its first order of $500,000 from an Australian partner, and the first battery was delivered to Brisbane in Q1 2020. Carlo Brovero and Angelo D’Anzi founded StorEn Technologies in January 2017. The current crowdfunding campaign has a minimum target of $9,998.12 and a maximum target of $4,999,998.24. The campaign proceeds will be used for R&D, growth, and expansion.
Investment Overview
Raised: $1,374,076
Deal Terms
Total Commitments ($USD)
- Platform
- StartEngine
- Start Date
- 09/15/2022
- Close Date
- 04/30/2023
$9,998
$4,999,998
$249
Equity - Common
Series A
RegCF
$7.33
$60,172,534
Company & Team
Company
- Year Founded
- 2017
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Medium
- Capital Intensity
- High
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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?
Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $9,946,408
- VC Backed?
- Yes
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 11/04/2024 | StartEngine | $59,984,469 | $959,562 | Equity - Common | Funded | RegCF |
| 04/30/2023 | StartEngine | $60,172,534 | $1,374,076 | Equity - Common | Funded | RegCF |
| 12/30/2021 | StartEngine | $40,400,000 | $8,657,825 | Equity - Common | Funded | RegA+ |
| 03/15/2020 | StartEngine | $28,100,000 | $1,062,814 | Equity - Common | Funded | RegCF |
| 01/08/2019 | StartEngine | $25,904,060 | $659,824 | Equity - Common | Funded | RegCF |
Growth Charts
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.
Valuation History
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.