Flux Hybrids (Techstars '21)

Techstars company retrofitting fleet vehicles into plug-in hybrids

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Security Type
Convertible Note
Categories
Technology, Infrastructure, Energy, Financial Services, Education
Min Investment
$100
Location
Troutman, NC
Expected Close Date
April 30, 2023
Target Raise
$81.00K-$400.00K
No. Investors
165
Security Price
$1
Website
fluxhybrids.com
Number of Employees
4
Cash
$90,414
Revenue
$0
Short Term Debt
$0
Cost of Goods
$0
Long Term Debt
$121,870
Net Income
$-31,456

Company Description

Techstars Alabama Energytech portfolio company
Massive market ~200 million fleet vehicles, with 1% of commercial van and truck sales electrified.
Contribute to the immediate reduction of transportation-related carbon emissions
Our technology pays for itself in savings in 3.5 years for the average fleet in the US.
Fleet vehicles are projected to be some of the slowest to electrify due to their rigorous use case.
A patent-pending system that allows for integration across gas, diesel, or other combustion engines
Beginning a paid pilot with Alabama Power Company, one of 13 fleets operated by The Southern Company

Key Deal Facts

Techstars Alabama Energytech portfolio company
Massive market ~200 million fleet vehicles, with 1% of commercial van and truck sales electrified.
Contribute to the immediate reduction of transportation-related carbon emissions
Our technology pays for itself in savings in 3.5 years for the average fleet in the US.
Fleet vehicles are projected to be some of the slowest to electrify due to their rigorous use case.
A patent-pending system that allows for integration across gas, diesel, or other combustion engines
Beginning a paid pilot with Alabama Power Company, one of 13 fleets operated by The Southern Company

Management Team / Advisory Board Bios

Micah Ulrich CEOBS & MS Mechanical Engineer from NC State

Micah is an automotive professional, with a broad set of experiences ranging from working as an ASE-certified technician to electronics design and controls with BMW and other auto manufacturers, Cody Biedermann CTOBS Mechanical Engineering from NC State

An automotive professional skilled in all facets of design and experience in leadership from creating a solar car to energy analysis for NC state government., Clay Dowdey COOBS Chemical Engineering from NC State

Clay is a process engineer with experience working with multiple Fortune 500 chemical companies. His knowledge of manufacturing and operations supports product flow, supply chain, and fleet pilot programs, Bryon Spells Systems EngineerBS & MS in mechanical engineering.
Focused on widely adoptable, efficient automotive technologies. Founded SolarPack at NC State and researched AI-enabled powertrains at Stanford before Flux Hybrids.
Amount Raised : $199,401
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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