StorEn Technologies

Renewable Energy Storage

Overview

Raised to Date: Raised: $723,302

Total Commitments ($USD)

Platform

StartEngine

Start Date

09/15/2022

Close Date

02/13/2023

Min. Goal

$9,998

Max. Goal

$4,999,998

Min. Investment

$249

Security Type

Equity - Common

Series

Series A

Funding Type

RegCF

Price Per Share

$7.33

Pre-Money Valuation

$60,172,534

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/02/2023

Days Remaining

11

% of Min. Goal

7,234%

% of Max. Goal

14%

Likelihood of Max
unlikely
Avg. Daily Raise

$5,166

# of Investors

522

Momentum
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Location

Stony Brook, New York

Industry

Consumer Products, Goods & Services

Tech Sector

Cleantech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Business Type

Growth

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.

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

Financials as of: 09/15/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
StorEn Technologies 02/13/2023 StartEngine $60,172,534 $723,302 Equity - Common Active RegCF
StorEn Technologies 12/30/2021 StartEngine $40,400,000 $8,657,825 Equity - Common Funded RegA+
StorEn Technologies 03/15/2020 StartEngine $28,100,000 $1,062,814 Equity - Common Funded RegCF
StorEn Technologies 01/08/2019 StartEngine $25,904,060 $659,824 Equity - Common Funded RegCF
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Ratings KingsCrowd Startup Rating Methodology Article

Analyst Report Analyst Report Methodology Article

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 recyclablenon-toxic, and safer solution than lithium-ion for stationary systems.

So is StorEn Technologies the vanadium flow battery company you should invest in?

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StorEn Technologies on StartEngine 2022
$
Platform: StartEngine
Security Type: Equity - Common
Valuation: $60,172,534
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