Helix Power

Helix Power

Sustainable energy storage enabling a zero-carbon future

Security Type
Crowd Note
Min Investment
Somerville, MA
Offering Date
August 18, 2021
Expected Close Date
November 16, 2021
Target Raise

Company Description

Sustainable energy storage enabling a zero-carbon futureVision. Helix Power aims to enable a reliable and resilient zero-carbon grid.Requirements & Markets Fit. Target markets include Grid Balancing (for zero carbon), Large seaport cranes, Rapid Transit, and Microgrids. These markets all have short-duration storage requirements that Helix Power satisfies: high power (1MW+), high number of cycles (1M+ est.), short charge/ discharge time (90 sec), continuous operation, long life (20 yr+ est.), and low life cycle cost. The Product & Technical Advantage. Helix’s first product is a patented 1 MW flywheel system, including the flywheel and power electronics system. The Helix system has unique design features that set it apart and satisfy the above requirements. These include active cooling, a permanent magnet motor, operation in a vacuum, state-of-the-art power electronics, magnetic bearings, and a composite rotor.The Value Prop. The Helix system provides greenhouse gas (GHG) reduction, grid reliability and asset life enhancement, energy savings, peak power reduction, speed of operation, and cost productivity versus current methods.Multiple Grant Awards. Helix has received grants from New York State Energy Research & Development Authority (NYSERDA) and Sandia National Laboratories (US DoE).  Grants have been used to complete our design (extensive reviews), drawings, analysis, select component tests, price quoting, and placing suppliers on purchase order (PO).Product Status & Plan Forward. Currently, hardware is being procured for the full-scale prototype flywheel system.  Build and test is planned for Q1 2022.  A 2nd full-scale system is planned for testing and customer deployment in Q4 2022. Commercialization is planned for Q4 2023. Company Structure. The technology co-development team includes Belcan Engineering, Abstract Power Electronics, Windings, Inc, Waukesha Magnetic Bearings, and Walco Electric.

Key Deal Facts

Grant funding from Sandia National Laboratories (US DoE), New York, and Massachusetts.
Major co-developers on purchase order to manufacture prototype hardware, including leading industry suppliers.
One issued patent for flywheel technology system and three patents pending for the rotor, hub, and cooling systems.
Energy storage with novel flywheel technology for multi-billion dollar markets such as grid balancing, rapid transit, seaport cranes and microgrids.
Founders and leadership with extensive flywheel expertise, including roles as CTO of AFS Trinity and Beacon Power.

Use of Proceeds

Harware Procurement

R&D Labor

Operations and Salaries

Transaction and Admin 

Management Team / Advisory Board Bios

Matthew Lazarewicz, President & Founder
Matthew has 20 years of experience in the energy storage market. He was the CTO of Beacon Power, which  built the world’s largest flywheel energy storage facility. He was also the Mechanical Design Manager for GE Aircraft, overseeing designs for the F404 / F414 engines for the F-18 jet.BSME, MSME & MS Management from MIT.

Kevin Blackman, Co-Founder & Business Operations Advisor
Kevin is a corporate strategist and entrepreneur. He assisted clients in qualifying for over $500 million in non-dilutive capital.JD from University of Chicago; MPP from Harvard University; AB from Brown University

John Bourneuf, VP, Operations & Engineering
John has experience as a Senior VP of UTC Operations at Belcan Engineering. He was also the GM overseeing A/C Structural & L/G Forgings at Precision Cast Parts. John was the Systems Engineering Manager at  GE Aviation for the CF-34, Adv Engines, as well as a Business Owner for Falcon 2000 engines and the International Sales Director.BSME – Notre Dame; MSME – Northeastern. MS Management.  MIT, Sloan Fellow (GE)

Philip Meyer, Director, Engineering & Development
Philip has expereince at Belcan Engineering as an Operations Manager as well as at Boston Operations.BSME from Case Western Reserve University; MBA from Xavier University
Amount Raised : $401,061
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Security Description

A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.

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