Magnuss Corp.

Maritime Shipping Technology

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Security Type
Common Stock
Technology, Sustainability
Min Investment
Offering Date
March 08, 2022
Expected Close Date
August 01, 2022
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Company Description

Magnuss is a maritime technology and project development firm that provides a wind-based propulsion system for global shipping to reduce fuel consumption and emissions. The system is a hi-tech sail called the Magnuss VOSS or Vertically-variable Ocean Sail System, an example of a modern technology that offers remarkable fuel savings at a time when minimizing costs, reducing fossil fuel use, and complying with current and future legislation are crucial. Magnuss Corp. is currently in the pre-revenue stage of development.


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Key Deal Facts

Global Impact – large, scalable, retrofit ready, and with 50,000 ships transporting 90% of the world’s goods, any improvement represents a global investment opportunity

Competitive Edge – innovative tech, patented internationally, retractable design, class-approved, fits industry infrastructure, meets customer demand, complies with regulations

Environmental and Economic Benefits – delivers double bottom line benefit, creating financial value by reducing fuel consumption and harmful greenhouse gas emissions

Management Team / Advisory Board Bios

James Rhodes

Chairman / CEO / Co-Founder / Director

Mr. Rhodes is a veteran executive and brings over 30 years of experience in maritime shipping, renewable energy, investment banking, and management consulting. He is co-inventor of the Magnuss VOSS, a frequent speaker at industry events, and authored numerous articles on clean shipping and environmental finance. He is responsible for managing the overall operations and resources of the firm including strategy, corporate and project development, governance, customer and investor relations, and finance. Formerly, he was COO of GE/AES GHG Services, a renewable energy development firm, and JV between GE and AES. Prior, he was Managing Director at Morgan Stanley for twelve years, after a decade at Goldman Sachs and Booz Allen. MBA - Columbia University, BS in Electrical Engineering - Brown University.

Edward Shergalis

COO, Co-Founder, and Director

Mr. Shergalis is a technology entrepreneur and draws on 20 years in maritime shipping, software technology, and investment banking. He is co-inventor of the Magnuss VOSS and leverages deep expertise in early-stage, high-growth business development and operations. He is responsible for business and software development, analytics, patent strategy, customer engagement, marketing, and media. He started his career at Columbus Chartering, a shipping logistics spin-off of Sea-Land, and then worked in investment banking at Morgan Stanley. After Morgan Stanley, he co-founded [x+1] and sold it to Rocket Fuel. In over two decades, he has built and sold profitable technology companies, employing hundreds of professionals. BA in Philosophy - Harvard University.

Gerard Condon

Member of the Board of Directors

Mr. Condon is a Non-Executive Director for Magnuss Corp.  
He brings over 20 years of experience in civil engineering and project management. Mr. Condon retired in 2017 as President of Condon-Johnson & Associates where he shaped CJA’s strategy, finance, and operations, resulting in many years of stable growth. After spending six years on the Board of Directors, Mr. Condon joined Condon-Johnson & Associates as President in 2002 and operated the company whose influence was felt in ten Western States from four regional offices. Mr. Condon oversaw CJA’s day-to-day operations, finance, strategic planning, and implementation functions. 
Mr. Condon has a Bachelor of Arts degree from Fordham University, and a Bachelor of Science degree in Civil Engineering from San Diego State University.
Amount Raised : $176,576
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Security Description

Common stock is a security that represents ownership in a corporation.

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