StorEn Technologies

Renewable Energy Storage

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Security Type
Common Stock
Categories
Technology
Min Investment
$249
Location
Stony Brook, NY
Offering Date
September 15, 2022
Expected Close Date
December 13, 2022
Amount Raised
$393,801
Target Raise
$10K-$5M
No. Investors
306
Security Price
$7.33
Valuation
$60,200,000
Website
storen.tech
Number of Employees
4
Cash
$1,923,450
Revenue
$0
Short Term Debt
$407,243
Cost of Goods
$0
Long Term Debt
$0
Net Income
$-1,588,160

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.

Perks

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$249+ Investment
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$20,000+ 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.

Security Description

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

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