StorEn Technologies

Renewable Energy Storage

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Security Type
Common Stock
Categories
Technology
Min Investment
$363
Location
Greenville, SC
Offering Date
September 15, 2022
Expected Close Date
July 01, 2024
Target Raise
$10.00K-$1.80M
No. Investors
224
Security Price
$7.12
Valuation
$59,980,000
Website
storen.tech
Number of Employees
5
Cash
$3,291,128
Revenue
$50,303
Short Term Debt
$131,946
Cost of Goods
$43,143
Long Term Debt
$65,994
Net Income
$-1,897,383

Company Description

StorEn answers the call for long-lasting, 100% recyclable, safe and affordable energy storage by developing evolutionary vanadium flow batteries. Their disruptive patent-pending all-vanadium flow battery technology for energy storage delivers the lowest cost per cycle in the world, up to eight times lower than lithium-ion batteries. StorEn has most recently signed an agreement with Connexus Energy, a utility company, to demonstrate the use of our system in a microgrid application that includes charging the battery with utility scale solar and using the system to charge electric vehicles (EVs) on-site at Connexus Headquarters. This first deployment will prove that our advanced energy storage technology is ready for commercial deployment. We will begin to take orders for systems with delivery starting in early 2023.

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$249+ Investment
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Key Deal Facts

Raised $ 8M+ from over 6,500 investors on StartEngine along with Venture Capital from ANYSEED Fund

4 patents extended internationally in the PCT National Phase securing our innovative IP in all major regions and countries in the world

Secured first order for $500k from Australian partner, and the first battery was delivered to Brisbane in Q1 2020 with additional units being manufactured

Selected by GridCatalyst in Minnesota as a cohort partner for early stage demonstration projects with key companies located in the midwest. StorEn’s demonstration project partner is Connexus Energy, a rural electric cooperative utility company.

Management Team / Advisory Board Bios

Angelo D'Anzi



Founder, CTO, & Director


Angelo has served as our chief technology officer and a director since our inception in January 2017, and is primarily responsible for the technical development of our products. Since May 2018, Angelo has also served as a director of Arco Fuel Cells S.r.l., where he was responsible for the company’s fuel cell technical development activities.
In March 2013, Angelo founded Proxhima, a vanadium flow battery company, which was sold in May 2015 to the Gala Group, a utility listed on the Milan Stock Exchange. In 2000, Angelo founded ROEN-EST, a fuel cell company acquired by the Arcotronics Nissei group in 2003, and served as chief executive officer and chief technology officer after the acquisition. Arcotronics Fuel Cells was subsequently acquired by the Morphic Group, a cleantech holding company listed on the Stockholm Stock Exchange. Angelo was retained as chief executive officer of Morphic Fuel Cells, until the acquisition of the Group by General Electric in 2009.
Angelo holds 14 international patents and received the 2003 Sapio Award in the Energy and Transportation category with a paper titled “Technological Transfer between Research Institutions and Private Companies in the Polymer Electrolyte Fuel Cell Technology".
Angelo holds a MBA degree from the LUISS Business School in Rome.















Davide Biggi



Chief Financial Officer


Davide Biggi graduated with honors from the University of Pisa in Corporate Finance and Financial Markets; in 15 years of work experience he has acquired specific skills in financial planning and management starting from the drafting of the annual budget to the reporting period for management, skills in treasury management, corporate tax planning and management, the auditing of medium-sized companies up to the drawing up of the Annual Report. 
Biggi has specialized in the drafting of business plans for the raising of capital (equity and debt) with numerous successful operations - and also in the preparation of financial plans for Facilitated Finance for the collection of European public funds.
He has covered the role of responsible administrative and accounting for a multinational group of medium-sized in naval field located in Europe and USA - and the role of independent financial analyst finalized to the raising of capitals of small and averages companies. He has held the role of CFO in two medium-sized companies in the field of shipping and energy.















Gabriele Colombo



Secretary


Gabriele has served as our secretary since our inception in January 2017. Between February 2019 and the present, Gabriele has served as the chief executive officer of Leonardo Hispania S.A., a subsidiary of the Leonardo Group of Italy, an aerospace, defense and security conglomerate. Between April 2017 and February 2019, Gabriele served as Senior Vice President - Head of Line of Business at Leonardo Hispania S.A. where he was responsible for the profit & loss of one product line. Prior thereto, between January 2012 and March 2017, Gabriele served as Regional Manager at Leonardo Hispania S.A. where he led a team of 25 country business regions with responsibility for marketing analysis, strategy development, and imitative deployment and goal setting.
In 2013, Gabriele was a founder of Proxhima S.r.l.
Gabriele holds an Honors Degree in Computer Engineering (University of Pisa) and a II Level Master Degree in Business Leadership (University of Genova).
Amount Raised : $726,590
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