Airthium

100x cheaper battery to stop Climate Change

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Security Type
CAFES
Categories
Energy, Technology, Infrastructure, Education, Other
Min Investment
$250
Location
Austin, TX
Offering Date
March 23, 2021
Expected Close Date
April 29, 2024
Target Raise
$50.00K-$5.00M
No. Investors
1
Security Price
$1
Deal Notes

Price Per Share: $1.00

Website
airthium.com
Number of Employees
11
Cash
$309,071
Revenue
$365,549
Short Term Debt
$296,316
Cost of Goods
$0
Long Term Debt
$3,820,122
Net Income
$-830,966

Company Description

We are enabling our world to live on solar and wind energy alone. And it's cheaper than all fossil fuels.

A 100% renewable energy world used to be impossible. We designed a long-duration battery that is so cheap that it makes 100% renewables cheaper than coal, gas, and nuclear. Our team with 2 PhDs raised a $500K pre-seed from Y Combinator, DCVC, and more.

Key Deal Facts

$50B/year Total Addressable Market
The world needs 2.4 PWh (2.4 million GWh) of storage by 2050
Most of those 2.4 PWh require batteries that are 100x cheaper than today
We are building the only 100x cheaper battery that can scale
Y Combinator alum, $500k raised, 2 PhDs from top French unis

Use of Proceeds

$50,000

  • 60% Payroll, 13.25% contractors (mechanical/electrical engineering expertise and consulting), 13% administrative expenses, 10% lab + office space, 3.75% Wefunder fee

$1,070,000

  • 43% Payroll, 23% equipment including machining and prototypes, 13% contractors, 10.75% administrative expenses, 6.5% lab + office space, 3.75% Wefunder fee

Management Team / Advisory Board Bios

Andrei Klochko, CEO and cofounder
PhD in plasma physics from Ecole Polytechnique (French top 2 uni), researched the science behind Airthium for 5 years. Went through Y Combinator with Franck in 2017.

Franck Lahaye, COO and cofounder
Ex-EMEA Sales director at Intelsat, one of the world's largest telecommunications satellite operator, he then ran his own satellite capacity brokerage company for several years.

Deal Notes

Price Per Share: $1.00

Amount Raised : $1,381,213
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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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