Overview
Mycocycle shifts the paradigm of how we view and treat waste. We know we can impact the planet, people, and profit by removing carbon from waste to create a valuable, low-emission byproduct – using mushrooms.
Our cost-effective supply chain solution turns construction waste that would otherwise be incinerated or piled in landfills, into a versatile material that is durable enough to replace petroleum-based products such as plastics while being moldable, and fire and water-resistant, a truly sustainable solution.
The Company is an early-stage, pre-revenue startup that has lab based proof of concept on multiple treatment methodologies. The Company is raising funding to support the simultaneous scale up and derisk of it's technology.
The Problem
Billions of tons of construction waste occupy landfills, where trash sits for hundreds of years with zero future value, emitting harmful pollutants. There is less than 15% of dump space left, and a growing list of entities banning materials from landfills (source).With no means of freeing landfill space besides incineration, we felt there was an opportunity to develop a solution that would not only remove toxins from materials but also offer an opportunity to reuse them, diverting them from overburdened dump sites.
The Solution
We discovered that mycelium, the underground part of a Fungi, can digest petroleum-based chemicals found in construction products, and render materials as non-toxic. Fungi can also break down other chemicals such as phthalates, and sequester toxic heavy metals, taking a 400-year process down to just four weeks. We’ve tested this theory on additional materials to outstanding results, with a 98% reduction of toxins in asphalt-based materials.
The Mycocycle method creates new market opportunities and incentives for recyclers, manufacturers, and waste management companies as the new materials generated through this process can create new products.
The Market
Mycocycle brings our mushroom-based solutions to a trillion-dollar solid waste management market in need of change (source). The construction and demolition trash recycling market generated $126.89 billion in 2019 and is estimated to reach $149.19 billion by 2027 (source). The circular economy, eliminating waste and promoting the safe use of natural resources, offers an alternative that yields up to $4.5 trillion in economic benefits to 2030 (source).
Our Traction
Mycocycle is recognized in numerous publications and awards, such as in Fast Company’s 2020 “World Changing Ideas”, 2020 EPA Innovation Fair, and as the winner of the 2020 Cleantech Open “Resiliency Challenge”.
photo credit to Entrenuity Capital Matchmaker
We secured customer betas in California and New Jersey, along with two purchase orders. We have two post-use material/R&D opportunities including one global manufacturer that are in development, 1000+ newsletter subscribers, exit strategy opportunities, and 6 million PR News Web campaign engagements.
What We Do
Mycocycle is an engineered ecosystem that diverts toxic waste streams from landfills, and turns it into reusable materials within just four weeks. Lab-cultivated fungi are applied to shredded waste materials, the trash is filtered by our patent-pending fungal blend, and the biomaterial is available for reuse into new commercial products.
Our systems turn waste into value streams, reducing space in landfills, and creating a lightweight, durable, recycled material that can replace plastics.This process can be done onsite to meet the specific needs of the customer.
The Business Model
We anticipate working directly with asphalt manufacturers, recyclers, bio-based and specialty chemical manufacturers, and waste management to offer our services. Our services include hardware and setup, license and royalty of our technologies, and remediation fees. In the long term, we aim for full strategic partner integration in managing waste streams.
How We Are Different
The current waste management process either bloats our landfills or incinerates trash, emitting toxins, and we believe ultimately eating at resources, land, and money. Even recycling programs that free up landfills often do not utilize a process that removes toxins, and treatment is usually offsite and limited with only 9% of materials recycled.
We operate on a closed-loop supply chain, meaning that we use the best of bioproducts to recycle and recreate new materials to replace harmful plastics and other petroleum-based products.
The Vision
In just five years, our goal is to treat 1.5 million tons of waste annually. Our company continues to grow aggressively to reach this goal because of the global waste issue. We hope to be the choice to drive the industry forward with a truly sustainable means of treating and innovating waste management.
OUR LEADERSHIP
Our team offers diversity in experiences and backgrounds across our founding team as well as our advisory board.
Every member of our core team has successfully owned businesses, exhibiting leadership, and innovation across fields such as strategic sustainability, product development, startups, operations, and more. Our advisors offer expertise in AI and robotics-based waste management solutions, as well as in the construction industry.
Why Invest
As landfills pile up and acres of land emit harmful toxins, we must focus on ways to help solve our global waste problem. Mycocycle’s solution transforms the traditional trash management system and provides more cost-effective and efficient results than current recycling systems. In a trillion-dollar waste management market, choose to invest in the sustainable solution of the future. Our planet depends on it.
Company | : | Mycocycle, Inc. |
Corporate Address | : | 785 Hartford Lane, Bolingbrook, IL 60440 |
Offering Minimum | : | $9,999.50 |
Offering Maximum | : | $945,455.00 |
Minimum Investment Amount(per investor) | : | $262.50 |
Offering Type | : | Equity |
Security Name | : | Non-Voting Common Stock |
Minimum Number of Shares Offered | : | 5,714 |
Maximum Number of Shares Offered | : | 540,260 |
Price per Share | : | $1.75 |
Pre-Money Valuation | : | $7,000,000.00 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
COVID Relief
This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary COVID-19 regulatory relief set out in Regulation Crowdfunding §227.201(z).
Expedited closing sooner than 21 days.
Further, in reliance on Regulation Crowdfunding §227.303(g)(2) A funding portal that is an intermediary in a transaction involving the offer or sale of securities initiated between May 4, 2020, and February 28, 2021, in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) by an issuer that is conducting an offering on an expedited basis due to circumstances relating to COVID-19 shall not be required to comply with the requirement in paragraph (e)(3)(i) of this section that a funding portal not direct a transmission of funds earlier than 21 days after the date on which the intermediary makes publicly available on its platform the information required to be provided by the issuer under §§227.201 and 227.203(a).
Investment Incentives and Bonuses*
Mycocycle-StartEngine Perks
Early Bird
Volume
*All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
Mycocycle, 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 100 shares of Common Stock at $1.75/ share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $175. 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.
Hello All!
As we move through back to school and the end of summer, I am happy to report that we were named an Industry Disrupter Award finalist at 1871’s 2021 Momentum Awards! This award is presented to a company that has developed or introduced an ingenious, non-traditional, and innovative product or service that has significantly disrupted the industry.
The winner of this award is determined by public vote, so help us win by voting for us before September 1, 2021! (On the platform just "search" Mycocycle)
The 14th Annual Momentum Awards, 1871’s annual celebration of tech innovation in Chicago, will be presented in a hybrid (in-person and virtual) format on September 23, 2021. Feel free to join Mycocycle in this celebration!
Thank you for your continued support! Let's show the world how powerful our Common Mycelial Network can be.
Have a great weekend,
Joanne
Hello All!
I hope your summer has been good, and safe. We have been pretty busy since the close of the round on April 30th, and it was brought to my attention by one of our investors Dan (thank you Dan) that I haven't given an update on our progress lately--so here it goes:
-We’ve hired three people
-Finished equipping the lab
-Started running our first rounds of testing and have added a vast library of cultures based on our proprietary approach
-We have gained an LOI from a major manufacturer to treat their rubber waste
-We were named in “FastCompany” as a 2021 World Changing Idea
-We were a semi-finalist for the Biomimicry Institute’s “Ray of Hope” prize
-We joined the DOE-backed REMADE Institute
-We have submitted one grant to treat polypropylene fibers in face masks and polymers in gloves, and we are writing two more grants (EPA, NSF) to support our development
When we closed the the round we raised over $500K across 600+investors! We are working everyday to add value and drive opportunity for you and Mycocycle.
By now you should have received your tier perks. I have had a few returned due to address issues. If you have NOT received your tier perk, let me know so we can get it to you.
Also, there are about 125 holdouts on starting the secondary investment account. You will help us out enormously by registering for this account. SE has been diligently reaching out on our behalf. It has been our request that all of the investors be consolidated into one account for ease of communications as we grow. We want to make sure we are both timely and compliant in getting all information out to you, our investors. PLEASE, if you have not registered for a secondary account, do so now. You can opt out of funding it. The reason it is happening now, as opposed to the time of your original investment? SE hadn't fully set up that functionality at the start of our campaign.
Thanks to all of you for making this mushroom revolution a reality! Every day we are learning more about the power of fungi and the ability to transform waste to resource.
**I am attaching a time-lapse of our face mask and glove samples--happening in the lab now. The mycelium LOVE these inputs and now we are poised to solve this growing waste issue by creating reusable mycelium materials.**
Take care and enjoy all that summer has to offer!
Joanne & the Mycocycle team
Coming to the close of this campaign and we know there is more to do. Developing and deploying climate impact technologies is more important now than ever. Literally everyone is investing in it, talking about it, measuring it, and developing it.
Invest today to protect our future...
Closing Thoughts
“Climate change is the world's greatest existential threat. Every scenario that reduces CO2emissions must be pursued.”
- Dr. Rajiv J. Shah, President, The Rockefeller Foundation
With only 2 days left to invest I only have 1 question: what’s holding you back?
We have been working hard for all 601 investors, and if we subtracted those investors from the 1000+followers...that means at least 400 of you are watching this opportunity go by.
You’re on the platform for a reason...is it to just watch good opportunity pass you up?Invest today before it’s too late.
Hello CMN!
First, thank you all for your support and willingness to create the secondary investment account. I appreciate the understanding and the compliance with our request. If you haven't done so yet, please consider helping us streamline the efforts so we can focus on the business at hand: growing mushrooms and diverting waste streams!
Next, we promised that we would work hard for you--AND WE ARE! With the investments we said we would: expand operations, file final patents, hire personnel, and focus on business development. Here is where we are:
1. We have been awarded our International Trademark and have filed our final patent applications in the US, Canada, and the EU. We are awaiting word on our US Trademarks and are in development on another patentable application.
2. We are almost 100% set up in our Bolingbrook, IL offices! With lags in shipping getting all of our necessary supplies and equipment have been taking longer. I am happy to report, however, that we should be running tests by May.
3. We are OFFICIALLY in the EU via Warsaw, Poland. We have just opened Mycocycle EU! Stay tuned for more exciting news as we expand our research and development efforts in the EU.
4. We have hired an administrative assistant to help with the daily operations, and we have an intern starting June 1. We are completing interviews for Mycological Lab Tech and should have someone in place by May.
5. We have gained an LOI from a major multinational manufacturer! (I saved the best news for last)
As you can see, we made a plan that we are delivering on. 2021 will be a phenomenal year for us. I have an ask of you now...as we are coming to the end of our campaign here on StartEngine please consider sharing the link with your networks so we can finish strong! We would love to gain more investment so we can make more plans through the scaling of our process--revenue plans that is!
Share the good news about Mycocycle today because it is your support that will continue to grow our network!
Thank you,
Joanne
Hello SE Investors!
I know there has been a lot of confusion around the initiation of a secondary investment account--I want to clear this up and ask for your support.
1. When we started our campaign on StartEngine we were told all of our investors could be consolidated into a single "custodial" account. As a small, lean startup this was important to us because that meant rather than managing 500+individual investors with updates, StartEngine would manage those updates (we are paying for the service any way).
2. StartEngine, as it turns out, did not have the process in place when we signed up with them. It was a plan in transition that we got caught in the middle of. They are asking all of you to start a secondary investment account as a result. You do NOT have to fund this account. There is an opt out button regarding this.
3. You can decide not to register for a secondary account--your investment will still be secure as well as greatly appreciated! It is just monumentally easier for us, and for you, to receive correspondences from Mycocycle, Inc. long term. Our attorneys would love the simplicity too.
Thank you in advance for supporting our equity crowdfund! As this is our first raise, we are learning new things every day: from the process, from each or you, and from our business growth. We are PROUD to work hard for you and look forward to growing together.
With Appreciation--
Joanne Rodriguez, CEO, Mycocycle
#fungifriday Nature is amazing! If we pay attention we can learn a lot. #mushrooms #nature #inspiration
#fungifriday "Just nod if you can hear me..." the beginning of one of the all-time great songs from Pink Floyd, we aren't talking music today we are talking awesome fungi inspired technology! Fraunhofer-Gesellschaft shares a similar to vision to many of us: replacing petroleum-based plastics and hard to recycle composite materials with mycelium. They are using mycelium threads to 3-D print sound absorbing and sound cancelling products. It is a "natural" fit as mycelium offers benefits in acoustic attenuation and insulation. 🍄 #technology #innovation #environment #sustainability #circulareconomy #mycelium #mycology #materials
https://3dprint.com/277602/fungus-in-your-ears-fraunhofer-3d-prints-mycelium-as-sound-absorber/
We’ve had over 14K visitors to our campaign and close to 1000 of you watching our progress. WE SEE YOU! If each of you watching invested today it would make a huge impact in how we scale. With less than a month to go, the time is now.
We look forward to welcoming you to the Mycocycle REVOLUTION and becoming a part of the CMN (along with the others for whom we are grateful)!
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