0Starting with the physics of how engines operate, LiquidPiston Inc. (LPI) has redesigned the traditional internal combustion engine and developed an innovative, efficient alternative. 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 aircraft, and drones.
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.
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.
We’ve targeted the military as an initial market 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.
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 secured 4 concept/feasibility studies with industrial firms during 2019, 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 Class 2 (55lb) UAV powered by our X-Mini Engine burning jet fuel.
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.
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 fossil fuels, 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 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.
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.
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.
In addition to continuing to innovate the core engine technology platform, we have multiple potential revenue streams that include:
Custom engine and hybrid-power design, as a service
Licenses to OEMs/partners to manufacture engines based on LPI design and IP, resulting in a combination of upfront license and recurring royalty revenue
Supplying prototypes and providing technical support and application integration services to LPI OEMs/partners to help them support their customers
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 51 patents (35 granted + 16 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.
Technology is scalable to 500+ hp
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. Chief Engineer Joe Pasciutti brings over 30 years of diverse technical leadership to the company, bringing new turbine engines from advance concept through production. As a whole, the team has the dedication and background to revolutionize next-generation engine development.
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!
Above: We were recently featured Season 31 Episode 9 of the Science Channel / Discovery Channel How It’s Made show! Click here to view.
Q: How is the LiquidPiston X Engine different from the Wankel?
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.
Ian Bamsey investigates this new take on the rotary that challenges Wankel designs on efficiency and performance.
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.
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
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.
Today it's for go-carts; tomorrow, it may be an electric car range extender
Engine startup LiquidPiston has radically shrunk a go-kart engine, but it's the military applications that has everyone really excited.
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.
Smaller, powerful X engine promises increased UAV flight endurance
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, 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.
While more than half of the $23 billion global power lawn and garden equipment market is accounted for by residential applications, residential demand is heavily concentrated in affluent markets such as the US. In low-income markets, commercial applications tend to be the larger driver of sales.
Company | : | LiquidPiston, Inc. |
Corporate Address | : | 1292a Blue Hills Ave., Bloomfield, CT 06002 |
Offering Minimum | : | $9,964.50 |
Offering Maximum | : | $1,069,997.50 |
Minimum Investment Amount(per investor) | : | $255.50 |
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 273 |
Maximum Number of Shares Offered | : | 29,315 |
Price per Share | : | $36.50 |
Pre-Money Valuation | : | $51,633,009.50 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below
Early Bird
First 48 hours - Friends and Family Early Birds | 15% bonus shares
Next 5 days - Early Bird Bonus | 10% bonus shares
Volume
$1,000 | Recieve a free LiquidPiston T-shirt (International investors will be asked to pay for shipping)
$25,000+ Invite to tour our shop + 10% bonus shares
$50,000+ Invite to Lunch with an LPI Founder (CEO or CTO) |15% bonus shares
*All perks occur after the offering is completed; travel associated with invite to LPI is at investor expense.
The 10% Bonus for StartEngine Shareholders
LiquidPiston, Inc. 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 10 shares of common stock at $36.50 / share, you will receive 11 common stock share, meaning you'll own 11 shares for $365. 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 cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
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.
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, LiquidPiston has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in LiquidPiston be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Special Notice – Corona Update
~~
03/17/2020
LPI Update to Investors
Dear LiquidPiston Investor,
It’s hard to believe that it’s almost the end of the 1st Quarter – a lot of activity for the Company during the past 3 months.
Highlights since our last update (December 2019) include:
We’ve been working on several feasibility / pilot programs funded by partners, looking at how the X Engine technology scales and could be adapted for partner-specific applications.
Note: We have strict Non-Disclosure Agreements in place, so we are necessarily restricted from disclosing partner names and project details.
C. US Government Activity:
Our involvement with the US DoD, particularly multiple program offices within the US Army is ramping up and we are getting good visibility from our CAPS project and participation in the Army xTechSearch 3.0 competition. (https://www.arl.army.mil/xtechsearch/competition.html#xtech3).
Current status of US Government proposals and projects:
D. Fundraising Update:
As always, please do not hesitate to contact me if you have any follow-up questions.
Thank you again for your support as LiquidPiston moves into the next phase of productization, industrialization and company-building.
Sincerely,
Alec Shkolnik, PhD
President and CEO
LiquidPiston
Thank you everyone for the amazing support. We maxed out with $1.07M in just 9 hours! Epic!
Looking forward to a great 2020. For those on the waitlist please stay tuned.
Hello everyone - we are blown away by the response to our campaign. Over 300 investors so far, and over $400K raised in just a few hours.
We are grateful and appreciative of the support !!
- Alec Shkolnik & the LiquidPiston team
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