necoTECH

Creating sustainable infrastructure using recycled waste materials

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Amount Raised: $262,573
Security Type
CAFES
Categories
Hardware, Technology, Infrastructure, Sustainability, Engineering, Construction, Climate Change, Infrastructure & Construction
Min Investment
$100
Location
Delaware, OH
Expected Close Date
April 30, 2023
Target Raise
$50.00K-$1.07M
No. Investors
254
Security Price
$1
Website
necotechusa.com
Number of Employees
1
Cash
$28,379
Revenue
$267,708
Short Term Debt
$14,535
Cost of Goods
$0
Long Term Debt
$0
Net Income
$19,337

Company Description

necoTECH drives sustainable infrastructure with better and more eco-friendly materials and advanced equipment technology. Sustainability is a hot topic that no one can ignore, and the market will continue to grow because we have a dire need to develop renewable, sustainable solutions. To capture a fair share of this large and growing market, necoTECH is systematically developing a business model that works. 

Use of Proceeds

Approximately 20% towards further R & D of technologies (matched with Gov't research contracts), 60% towards hiring and operations, 13.5% Marketing for tradeshows and travel to Air Force facilities 6.5% Wefunder fees.

Key Deal Facts

Products are proven in military applications and have been awarded 6 Air Force Contracts!
We have Research & Development Agreements with NASA, U.S. Air Force, & U.S. Army Corps of Engineers.
Licensed 4 patents from the national labs including USACE, AFCEC, & NASA.
4 technologies selected in the Top 30 for U.S. Air Force Pavement Maintenance & Repair!
Working on a vertically integrated solution to divert over 90% of waste from landfills.
We're 1 of 2 companies selected in the US to test Recycled Plastic Asphalt by NCAT.
Multiple national partners in order to scale technologies across the US.
Currently have 7 technologies that utilize waste materials, sequester CO2, & improve performance.

Use of Proceeds

Approximately 20% towards further R & D of technologies (matched with Gov't research contracts), 60% towards hiring and operations, 13.5% Marketing for tradeshows and travel to Air Force facilities 6.5% Wefunder fees.

Management Team / Advisory Board Bios

Steve Flaherty, MBA Founder & CEOSteve is a mission driven entrepreneur with a track record of successful enterprises in his career. Between a "whatever it takes" mentality and rapid execution, Steve has helped lead neco into one of the fastest growing cleantech startups in the U.S., Ken Hasty Director of SalesKen brings decades of success in high-growth sales, sales management, scaling sales teams, as well as executive management.

He is skilled in helping build companies ranging from startups to Fortune 500 companies., John Whittington Director of EngineeringJohn has over 30 years of experience in engineering and facility management. He brings years of guidance and mechanical thought leadership to neco as we build out our systems and technologies., Cheryl Hutchinson Director of Operations"Controller of chaos" at necoTECH who helps keep all functions on time and within budget. Spent over a decade boosting efficiencies and establishing best practices for companies ranging from tiny startups to Fortune 100 corporations., Zac Graber Product ManagerZac is a young but well rounded entrepreneur. He has founded and bootstrapped his own startup, grew and co-raised a large seed round at another, and researched waste management solutions as a President’s Prize Fellow at The Ohio State University.

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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