LiquidPiston

The combustion engine reimagined

LiquidPiston

The combustion engine reimagined

Bloomfield, CT
Technology
Travel/Tourism
LiquidPiston, Inc. (LPI) develops advanced rotary internal combustion engines based on the company’s patented thermodynamic cycle and novel rotary engine architecture. Our engines are compact, powerful, quiet, efficient, low-vibration, multi-fuel capable and scalable from 1HP to over 1000 HP.

$4,909,455

raised
2,670
Investors
$56.8M
Valuation
$45.00
Price per Share
$765.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$24.4M
Offering Max
Reg A+
Offering

$4,909,455

raised
2,670
Investors
$56.8M
Valuation
$45.00
Price per Share
$765.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$24.4M
Offering Max
Reg A+
Offering

Bonus Rewards

Get rewarded for investing more into LiquidPiston

$2,000+
Investment
First Tier
Choice of custom owners T-shirt or ''Love the smell of Jet Fuel in the Morning'' coffee mug*
$5,000+
Investment
Second Tier
Choice of T-shirt or mug*, plus 5% Bonus Shares
$10,000+
Investment
Third Tier
Choice of T-shirt or mug*, plus 8% Bonus Shares
$25,000+
Investment
Fourth Tier
Choice of T-shirt or mug*, plus 10% Bonus Shares, plus an invitation to a private tour of the LiquidPiston facility **
$50,000+
Investment
Fifth Tier
Choice of T-shirt or mug*, plus 15% Bonus Shares, plus an invitation to a private tour of the LiquidPiston facility) plus lunch with a Liquid Piston Founder **
  • Up to 10x smaller and lighter and 30% more efficient than a diesel engine, with 64 patents issued and pending
  • $9M in Department of Defense contracts with DARPA and the U.S Army. Successfully completed four industrial  partner pilot studies signed in 2019, resulting in $1.1M of commercial revenue. 

  • Raised $3.17M from three fully subscribed Regulation CF offerings from over 2,400 investors

  • Our latest Reg CF offering oversubscribed in just 9 hours! 

  • Current Finalist in several DoD competitions, including: the US Army xTechSearch 3.0,  U.S. Army and Innovation Combine, and AFWERX Base of the Future Challenge

Traction and recognition within DoD and Industry

  • LiquidPiston demonstrated the X-Engine powering an Unmanned Aerial Vehicle on jet-fuel in a parallel hybrid electric propulsion configuration

  • Received notification from the US Army that LiquidPiston has been selected for potential award of 2 SBIR contracts (public details pending)

  • Winner (Runner Up) in the Army Futures Command Innovation Combine (2020) competition focused on identifying innovative technologies to address Army challenges with scalable power and energy solutions and novel materials for weight reduction and survivability 

  • Selected as a Top Submission to compete and showcase as part of the Air Force (AFWERX) Base of the Future challenge, AFWERX FUSION event

  • Successfully completed 4 feasibility study contracts signed in 2019 with industrial partners

By rethinking the engine starting with first principles, engines can be significantly improved on virtually all parameters - efficiency, weight, size, vibration, and noise  ||  LiquidPiston is making this a reality, with potential to disrupt a 150 year old industry

Thinking "outside the cylinder"

Starting with the physics of how engines operate, LiquidPiston Inc. (LPI) has redesigned the traditional internal combustion engine and developed an innovative, efficient alternative. 

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Building on over 15 years of R&D, LPI provides a power solution that can scale to address the $400B internal combustion engine market and can be a key enabler for emerging mobility technologies including electric cars, urban air mobility (UAM), and drones (UAS).

Check us out on the Discovery Channel!

Footage is provided courtesy of Exploration Distribution Inc. (C)2020. All rights reserved.

Engines still rely on old technology that’s inefficient and costly

Today’s solutions for power and energy are held back by a lack of technological innovation. Gasoline engines are inefficient, diesel engines are big and heavy, and electric power/batteries weigh a ton compared to what they produce. Just 6 gallons (36lbs) of fuel can displace 1,000 pounds of battery! These features present significant limitations to the range, payload, and efficiency current engines can achieve and increase operating costs.

A new efficient, lightweight, and environmentally -friendly engine design

LiquidPiston has developed a thermodynamic cycle which is 30% more efficient than the gasoline and diesel cycles used in almost all internal combustion engines today. This cycle, named the High-Efficiency Hybrid Cycle (HEHC), has been implemented into a compact, lightweight engine designed to be power-dense and multi-fuel capable.  

The new design, dubbed the "X Engine", is a new take on the old rotary engine. It solves the challenges of prior generation Wankel rotary engines, while preserving key advantages of high power to weight, few parts and simplicity, with near-zero vibration.  Our design also cuts back on fuel consumption and corresponding CO2 emissions and the costs of running a traditional engine.

PUT NEW GIF HERE

Above video: X-Mini SI engine cycle animation.  Our alternate diesel configuration is shown in this animation.   See more of LiquidPiston's videos here

With over $10M in Department of Defense and Aerospace contracts, we already have an established presence in the military space

We’ve targeted the military and aerospace as initial markets for our engines and have secured a handful of major contracts:

  • We have successfully completed several phases of development with DARPA (totaling $6M), resulting in development of a 30kW Compression Ignition (CI) engine core that could be used for UAVs, generators, or other applications.

  • We’ve developed a 2kWe Compact Artillery Power System (CAPS) generator set for the US Army, which burns diesel/jet fuel and weighs approximately 30% of the weight of the generator currently deployed and used by the Army.  

Left: prototype 2kWe hybrid JP8 military generator prototype, powered by the X-Mini rotary engine 

[Middle];  Right: go-kart powered by the X-Mini.

  • We executed 4 concept/feasibility studies with industrial firms in 2019/2020, totaling $1.1M.  Three of these focus on aerospace applications, and could lead to significant follow-on development programs. 


  • We are a Finalist in the US Army xTechSearch 3.0 competition, for which we demonstrated a successful flight of a 55lb UAV powered by our X-Mini Engine burning jet fuel.

SourceSource

Above video:  Maiden flight on Jet-A fuel (similar to JP8).  This is a parallel hybrid demonstration, with 2kW of electric power + 3kW from the engine.  Next steps, we will attempt to demonstrate in-flight start/stop capability, with "quiet cruise" in electric-only mode. 

We are a technology company developing simple, compact engines that work efficiently using a patented thermodynamic cycle

LiquidPiston develops advanced rotary engines based on the company’s patented thermodynamic cycle and engine architecture. The X Engine’s few moving parts consist of a rotor and an eccentric shaft. Except for ancillary parts such as injectors, fuel pumps, and oil pumps, there are no other moving parts, making the X-Engine extremely simple and elegant.


Our engines efficiently burn fuel, minimizing the wasted energy typically lost through cooling losses and engine exhaust, seen in other engine designs.  

We are positioning ourselves as a technology company, not just an engine manufacturer. We are looking to license our technology to partners, while also offering technical engineering consulting services to custom design and develop application-specific engines for our partners and customers, which include engine manufacturers and systems integrators. 

Multiple billion-dollar potential market segments for our products

  • The global Internal Combustion Engine (ICE) market is over $400B annually.  Our market penetration approach starts with focus, and then expands more broadly. 


  • In the first phase, we are focusing on military and aerospace markets, whose propulsion and power generation segments represent large application opportunities for LiquidPiston.

SourceSourceSourceSource


  • In the second phase, we plan to enter industrial and commercial, marine, UAV, urban mobility, and automotive markets.


  • After launching in initial market sectors, we will assign teams of engineers to work with our customers to introduce new engine platforms for virtually any segment of the engine market.  We started with low volume, high price applications, and plan to enter broader markets as volume scales.

Our rotary engines are the first major disruption to engine technology in over a century

To our knowledge, we are the only engine company in the world developing engines based on a new, optimized thermodynamic cycle.

Other companies are focused on incrementally improving cycles first commercialized in the late 1800s. Our engines offer size and weight advantages, with potential for significantly increased range and reduced CO2 emissions compared to gasoline and diesel powered vehicles.  

Our technology can also be a key enabler for the broad adoption of electric vehicles.  When used in conjunction with electric propulsion in a hybrid configuration, the LPI engines allow more range for an EV, while using smaller, lighter, more cost effective batteries.  We are maintaining a sustainable competitive advantage based on our ever-increasing IP (patents & know-how) and being the knowledge base and “clearinghouse” of all learning associated with our core engine technology.


Cutting-edge engine and hybrid-electric power solutions and technological services

In addition to continuing to innovate the core engine technology platform, we have multiple potential revenue streams that include:

  • Custom design and development of engines, generators, APUs, and hybrid-power systems. Design as a service (NRE).

  • Licenses to OEMs/partners to manufacture engines based on LPI design and IP, resulting in a combination of upfront license and recurring royalty revenue.  We might also produce and sell the core engine for manufacturers to integrate. 

  • Manufacturing of engine cores (including prototype and low volume production) to prime the market.

We intend to lead in engine innovation and scale our products to serve a range of markets

We intend to be the global leader in developing technologies and platforms to enable high fuel efficiency and power density in internal combustion engines. We currently have 64 patents (44 issued, and 20 pending), a robust innovation pipeline, and a next-generation engine lab prototype which promises to increase power density significantly. Our engine platform is scalable and we intend to serve markets ranging from home and garden to electric vehicles and aircraft. Over the next 5 years, our goal is to target a high revenue/EBITDA growth trajectory.

An experienced team dedicated to innovation

The team behind LiquidPiston is composed of leading innovators in computer science / AI, physics, math and engineering. Co-founders Alec and Nikolay Shkolnik have spent over a decade conducting R&D and developing patented technology to create the innovative thermodynamic system in the LiquidPiston engines.

Per Suneby, SVP of Corporate Development, is a seasoned clean-tech startup executive.  Jake Zuehl, Technical Specialist, brings a wealth of engine development experience from his previous roles as Director of R&D, Innovation at Briggs & Stratton, and as Senior Research Engineer at Southwest Research Institute.As a whole, the team has the dedication and background to revolutionize next-generation engine development.

Investing in LiquidPiston is an opportunity to help change the energy-sustainability paradigm

Increasing energy use is directly correlated to rising standards of living, particularly in large, rapidly developing countries. If LiquidPiston were broadly deployed, we believe economic development could progress with a dramatically lower amount of fossil fuels used for vehicles power and for electric energy production compared to other engines and generators. In addition to offering environmental benefits, we believe our technology can be applied with economic and performance advantages in many markets, which will drive demand and allow LiquidPiston and our partners to command a premium price versus legacy engines. This investment opportunity features a capital-lite business strategy and leverages partners to serve many large application markets.

Above: LiquidPiston replaces the 40 lb / 6hp engine in a go kart with its 4 lb / 4hp X Mini engine.  Makes for a fun demo!


Featured on Discovery Channel How It’s Made show!  

Above:  We were recently featured Season 31 Episode 9 of the Science Channel. Above:  We were recently featured Season 31 Episode 9 of the Science Channel / Discovery Channel How It’s Made show!  Click here to view.


You have questions, we have answers

Q: How is the LiquidPiston X Engine different from the Wankel? 

A:   Click here for a detailed writeup!

AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.


THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT CAN BE FOUND HERE.


THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY.  THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT.  WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.  INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE.  THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

In the Press

Small but growing number of CT startups turn to crowdfunding
November 5, 2018

So in 2016, he turned to Wefunder, an online business crowdfunding platform, hoping to tap the company's legions of followers as potential investors. The campaign was a hit, raising almost $1.3 million.

Unmanned Systems Technology Magazine, Dossier on LiquidPiston
September 9, 2018

Ian Bamsey investigates this new take on the rotary that challenges Wankel designs on efficiency and performance.

DARPA Looks to Extend Range of Drones, Autonomous Vehicles with LiquidPiston: CEO, Alexander Shkolnik
June 21, 2018

LiquidPiston is revolutionizing next-generation engine development. The company, headquartered in Bloomfield, Conn., develops and licenses compact & efficient power solutions based on an optimized thermodynamic cycle and a new type of rotary engine architecture.

Revolutionary Heavy-Fuel Engine For UAS Gets Darpa Boost
June 21, 2018

Development of a new type of rotary diesel engine that could provide compact, efficient and reliable heavy-fuel propulsion for smaller UAVs and other applications has been boosted by a $2.5 million Darpa contract

LiquidPiston: Could This Be The Engine Start-Up That Makes It?
June 16, 2016

NIkolay Shkolnik says LiquidPiston’s X Mini rotary engine can double fuel economy, eliminate noise and vibration and reduce the size of engines by 30% to 75%. Check out the video: a four pound X Mini replaces a 40 pound standard engine in this go kart.

LIquidPiston Unveils Tiny But Powerful Rotary Engine
June 14, 2016

Today it's for go-carts; tomorrow, it may be an electric car range extender

How a 4-Pound Engine Can Replace a 40-Pound Engine
June 14, 2016

Engine startup LiquidPiston has radically shrunk a go-kart engine, but it's the military applications that has everyone really excited.

Game-changing rotary engine muscles a go-kart
June 15, 2016

Imagine an engine that's 30 percent smaller than a traditional piston design of like output, and that runs smoothly, with less noise and vibration. Plus, it burns several types of fuel. That's the LiquidPiston X rotary engine, which was recently demonstrated powering a go-kart.

X marks the spot
March 22, 2018

Smaller, powerful X engine promises increased UAV flight endurance

LiquidPiston: Disrupting the curve with innovative custom power solutions
December 6, 2018

The internal combustion engine in its modern form has been around for more than 150 years. It’s a mature technology that treads the path of the traditional S curve. Which means that for some time now, companies have been spending billions of dollars for minor increases in performance. LiquidPiston,

LIQUIDPISTON WINS NOVUS UNMANNED STARTUP PITCH COMPETITION
November 2, 2017

LiquidPiston, a company that has designed a revolutionary new rotary engine, took home the top prize at AUVSI’s NOVUS Unmanned conference and competition in San Francisco.

Updates

LiquidPiston’s Engines Take Flight!

8 days ago

Dear LiquidPiston community,

Our Reg A+ crowdfunding campaign has gotten off to a fast start - raising over $4.5 Million in under two weeks!  This follows our very successful Reg CF campaign in January which oversubscribed in just 9 hours!  

Last week, we were selected as runner up in the U.S. Army xTechSearch 3.0 competition.  LiquidPiston ended up winning $145,000 through multiple stages of the competition, and had advanced to the Finalist stage, gaining valuable contacts with numerous Army organizations which will benefit the Company for years to come.  For the competition demo, LiquidPiston successfully flew its X-Mini engine in a hybrid-electric UAV, demonstrating the X-Engine versatility and ability to provide compact, fuel-efficient power for manned or unmanned aircraft using military-grade heavy fuels such as JP8.  Uniquely, the engine was demonstrated to shut off mid air, transition power to an in-line electrical motor engaging a “silent cruise” mode, and then the engine was re-started mid-flight on Jet A Fuel, and the UAS returned safely home. To our knowledge, this is a unique capability that has never been demonstrated before.  The system is setup as a parallel electric hybrid, meaning that both the engine and motor are able to work together on takeoff, and then cruise is handled mainly by the engine itself. 

We are thrilled to also formally announce that LiquidPiston has received a Small Business Innovation Research (SBIR) Phase I grant from the U.S. Army for the development of its X-Engine as a hybrid-electric propulsion platform for Unmanned Aerial Vehicles (UAVs). (Press release, draft here: LINK).   This SBIR award builds on the momentum of the XTechSearch competition, and is intended to help fund the continuing maturation of our engine technology for hybrid electric / VTOL UAV propulsion.

Please share the video and investment opportunity with your friends and families. We look forward to great things to come. 

PS - check out the look of our new website!   I hope you like it.   

Sincerely,

Alec Shkolnik, PhD
President and CEO
LiquidPiston

  

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This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment

LiquidPiston to be featured in U.S. Army XTechSearch Finals Competition

13 days ago

Amazing start to our campaign - over $4M raised in our first week.  Big thank you to our 2200 new investors!

Coming up:  LiquidPiston will be featured in the U.S. Army xTech 3 Summit as a finalist in the XTechSearch.  Wish us luck as we compete for the $250,000 grand prize!    Cheer us on, and see our demo project and judging session (open to the public), 2:45 PM ET Thursday - and get a sneak peak of our announcement we are making Sept 15.  The grand prize winner will be announced on Friday. Event link: https://bit.ly/32aLXix

~~

    This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

Great launch - thank you to all investors

20 days ago

We are blown away with the launch of our reg A.   Thank you to our 1500 new investors, helping us raise over $3M in just 2 days!    


This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment

Over $2.3M Raised our first day!

22 days ago

Our Regulation A+ offering just launched, and we have already exceeded $2.3M raised from over 1,000 investors!    Thank you to all of our investors for your support - we look forward to great things to come!

Alec Shkolnik & the LiquidPiston team



~~

This Reg A+ offering is made available through StartEngine Primary, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please LiquidPiston's offering circular as well as the risks associated with this offering.


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