Exovolar Industries

Fly Like Superheroes

Exovolar Industries

Fly Like Superheroes

Union City, NJ
Technology
We are developing a hands-free personal air mobility system allowing human intelligence, dexterity, and decision-making to be airborne.

$35,221

raised
14
Investors
$8.8M
Valuation
$5.28
Price per Share
$348.48
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

$35,221

raised
14
Investors
$8.8M
Valuation
$5.28
Price per Share
$348.48
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into Exovolar Industries:

$348+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$1,000+
Investment
$1,000+
Access to private investor newsletter
$5,000+
Investment
$5,000+
Access to private investor newsletter + 4% bonus shares
$10,000+
Investment
$10,000+
Access to private investor newsletter + 8% bonus shares
$20,000+
Investment
$20,000+
Access to private investor newsletter + Time with the founder + 10% bonus shares + Test Flight Opportunity*

Reasons to Invest

Personal air mobility is becoming more prevalent in both the military and entertainment in recent years. In fact, there are existing interests from militaries of many nations when it comes to personal air mobility systems - meaning there is a big market for us to fill.
Current personal air mobility systems require at least one hand to fly, we aim for hands-free flight to allow for additional utility and safety.
There are subsequent opportunities for a lightweight and cost effective lift device in industries where humans need to perform work in hard-to-access aerial worksites. The “manned-unmanned” teaming of routine inspection with humans flying up to perform complex work, is our vision of how the technology can be disruptive for aerial work.

OVERVIEW


Fly Like Superheroes


We believe the “superpower” of single-human-flight can be democratized given the current state of technology: drones are flying everywhere and we are consistently landing rockets. We thought - Why not humans? 


We founded Exovolar to create something that has been historically fiction: a way for a single human to authentically explore the sky, easy to learn and accessible by everyone. 



*The video is a computer-generated demo version. Product is still currently under development and is not currently available on the market.


Exovolar aims to augment our mobility tool, the legs, to make flying as simple as walking. The combination of jet engines, exoskeleton, and our patented thrust vector nozzle allows the legs to fulfill their destined duty – to support and move our body in the sky.



We plan on providing variations of the technology for different customers. Whether it is the trained or untrained general public, professionals, and/or military personnel, there is a way for everyone to authentically explore the sky.


Meet the team behind the mission:




THE PROBLEM


When it Comes to Tasks - Getting Humans into the Air to is Costly, and Inefficient 


There exists an aerial domain beyond the reach of existing cranes, lifts, and helicopters where humans are needed to carry out complex tasks in air.


But there have been some issues...



Additionally, current personal air mobility systems make it possible to send humans reliably in air with minimal form factor, but will require constant use of hands to operate - making it more difficult, and less safe to perform tasks at hand.


*Dramatization. This is a computer generated image of a product not being developed by Exovolar.

THE SOLUTION


We Explore the Sky in Ways Only Imagination Can

We bring you an automatically stabilizing personal flight system controlled by the lower human body alone - all so that the hands can be used to perform dexterous tasks in air. 


*The above graphic contains images of a prototype which is currently not available for general use.


Analogous to how SpaceX lands their rockets by automatically adjusting the nozzle direction - we use variations of thrust vectoring technology to automatically balance the flight system with a human onboard. 



This means form factors, like exoskeletons, platforms, and hybrids, will vary depending on the market we focus on. For now, we are developing a prototype that can be adapted to future systems. 


*Images are computer-generated demo versions. Product is still currently under development and is not currently available on the market.

Here’s a look at the business model that makes it all happen: 





THE MARKET


We Believe The Sky’s The Limit with Our Market Opportunity 

Here’s a look into how we can penetrate this billion-dollar market:


1. Source | 2. Source | 3. Source |4. Source


Other companies in the personal air mobility (PAM) field focus on flying a human from point A to point B with minimal form factor.

 

Differently from existing solutions, we take the system complexity trade-off to realize airborne utility - where the human can carry out useful tasks in air.


*The video is a computer generated demo version. Product is still currently under development.


With this differentiation, we are an alternative to crane lifts, suspended workstations, and helicopters in some applications.

 

We believe our advantage to other PAM companies is that we have a highly technical founding team. With them on board, we are able to  iterate through design and fabrication quickly.



The control algorithm we are developing will also be unique for the hands-free personal flight system. As for competing with companies that provide traditional methods of aerial workspace access, we aim to cut down logistic effort and cost for operators


OUR TRACTION


Miles of Milestones 

We have designed, fabricated, and tested the thrust vector technology that will be the core of the system’s control. All the subsystem parts and software drivers are integrated and tested. At this point, we have all the expensive hardware needed to become airborne with the first prototype and a dedicated airport location for tests.


*The above graphic contains images of a prototype which is currently not available for general use.


In the meantime, we’ve already made a lot of progress. Check out our accomplishments since our founding.


*The above graphic contains images of a prototype which is currently not available for general use.

WHY INVEST


Dream Up with Exovolar

Our vision is to make the personal air mobility technology truly useful and accessible to many industries. We’d like to see the utility of the technology lead to a future where humans can overcome the constraints of gravity. 


The autonomy of the system is also a must to let anyone reach the sky without extensive training. Thus, a future where personal flight is a commonplace technology in both utilitarian and entertaining aspects of the world. 


It’s time to build upon decades of pursuit in personal air mobility and make the technology more than a mere novelty. Together, we can build the personal air mobility technology that contributes to a different and genuinely awe-some future.


*The above graphic contains an image of a prototype which is currently not available for general use.

Offering Summary


Company

:

Exovolar Industries Corp.

Corporate Address

:

600 Palisade Ave. Suite 213, Union City, NJ 07087

Offering Minimum

:

$9,995.04

Offering Maximum

:

$1,069,992.00

Minimum Investment Amount

(per investor)

:

$348.48











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

1,893

Maximum Number of Shares Offered

:

202,650

Price per Share

:

$5.28

Pre-Money Valuation

:

$8,798,602.56











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Voting Rights of Securities Sold in this Offering

Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

Perks

Time-Based:

Friends and Family Early Birds

Invest within the 48 hours and receive additional 10% bonus shares.

Super Early Bird Bonus

Invest within the first week and receive additional 8% bonus shares.

Early Bird Bonus

Invest within the first two weeks and receive an additional 4% bonus shares.

Amount-Based:

$1,000+

Access to private investor newsletter

 

$5,000+

Access to private investor newsletter + 4% bonus shares

 

$10,000+

Access to private investor newsletter + 8% bonus shares

 

$20,000+

Access to private investor newsletter + Time with the founder + 10% bonus shares + Test Flight Opportunity*

 *when we decide to open test flight to selected groups

*All perks occur when the offering is completed.

StartEngine Owner’s Bonus:

Exovolar Industries Corp. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $5.28/share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $528. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

Example - The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$246,358.00 USD
$5,165.00 USD
Cash And Cash Equivalents
$209,867.00 USD
$365.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$9,677.00 USD
$0.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$239,369.00 USD
-$87,515.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Design, Fabrication, and Assembly (and Show-off!)

6 days ago

As we get back into technical work, the first parts we wanted to modify were the engine brackets. We make a sturdier version of the brackets (while reducing some weight!) to address some of the bracket strength concerns we discovered in previous tests.

As we waited for the parts to be fabricated, we took the chance to attend a conference in Texas and to host an exhibition booth at Propelify 2021 in Hoboken, NJ. It was great to see everyone in real life again while making some good conversations! 

Now that the new parts have arrived, we will be assembling them and proceed with the next phase of flight tests

Back to Technical Work!

24 days ago

We have been working on technical side of things during the campaign prep, but now that it is launched, we will have more time to work on engineering!

We'd like to share with you the preliminary design for the board configuration of the Hands-free Individual Lift Device (HILD) . The platform consists of elevated thrust vectoring engines on a single rigid-body vehicle.

Unlike the exoskeleton (designed for compactness and maneuverability with the military in mind as initial audience), the platform is meant to provide unparalleled stability and hands-free utility for industrial work. 

We are currently working on the dynamics model for more advance control, applicable to both the exoskeleton and the board configuration of the HILD system.

Show More Updates End of Updates

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