Exovolar Industries offering is now closed and is no longer accepting investments.

Fly Like Superheroes

INVEST IN EXOVOLAR INDUSTRIES TODAY!

Exovolar aims to democratize the superpower of human flight by making wearable personal air mobility practical & accessible.
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This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Exovolar Industries

REASONS TO INVEST

Reasons Icon

We identified the commercialization limitations of existing personal flight technology (e.g. a jetpack) being hand usage, high learning curve, and low scalability.

Reasons Icon

We've developed in-house a simulated, automatic, and handsfree control algorithm that would allow humans to easily navigate the sky while making near future commercialization feasible.

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We have a number of government & commercial projects in pipeline with confirmed interests (e.g. from the Air Force, ProtoFlight™, PowerGlide™, & more to be announced in updates); and we are raising to better equip us to take on and commit to those projects

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.

ABOUT

HEADQUARTERS
600 Palisade Ave. Suite 213
Union City, NJ 07087
VALUATION
$8.8M

Exovolar aims to democratize the superpower of human flight by making wearable personal air mobility practical & accessible.

TEAM

Guanhao Wu
Guanhao Wu
CEO | Founder | Lead Mechanical Engineer

B.E & M.E. in Mechanical Engr., Stevens Institute of Technology. 

Prior to founding Exovolar, he played a central role in developing a wearable sensor technology proposed by US Special Operations Command. His academic focus was robotics and controls and he has become the inventor behind two US patents since his graduation in 2019.

Ton Duong
Ton Duong
President | Co-Founder | Technical Consultant

PhD Candidate in Mechanical Engr., Stevens Institute of Technology.

Ton joined Exovolar as a co-founder in 2020. He is currently working on his PhD in wearable sensors for gait analysis and robotics applications. In his work, he is the first author of various IEEE publications and the co-inventor of two US patents.

Andrea Giannini
Andrea Giannini
CTO | Co-Founder

Bachelor & Master EECS, worked at CERN, ETH Zürich.

Before joining Exovolar, he was the lead digital hardware design engineer at Fathom Computing, developing Domain Specific Architectures for machine learning applications, integrating optics with digital designs.

Greg Mand
Greg Mand
Advisor

Mentor at 500 Startups, worked as CRO at Voom

Sales & business development leader with 20 yrs of expertise in identifying & exploiting new market opportunities for innovative organizations. Experienced in representing new companies & products to enterprise partners with strong focus on understanding customer needs and delivering relevant solutions.

TERMS

Exovolar Industries
Overview
PRICE PER SHARE
$5.28
DEADLINE
Mar 17, 2022
VALUATION
$8.8M
AMOUNT RAISED
$56,347.57
Breakdown
MIN INVESTMENT
$348.48
MAX INVESTMENT
$1,069,992.00
MIN NUMBER OF SHARES OFFERED
1,893
OFFERING TYPE
Equity
ASSET TYPE
COMMON
SHARES OFFERED
Common Stock
MAX NUMBER OF SHARES OFFERED
202,650

Maximum Number of Shares Offered subject to adjustment for bonus shares


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.

ALL UPDATES

03.15.22

Final Note & Future Plans

As our campaign comes to an end. We'd like to thank everyone who have invested. The investments so far have given us valuable runway in our pursuit towards the future of air mobility. 

We firmly believe aerial work is the next frontier in expanding human capabilities. Allowing humans and/or robots to perform dynamic and dexterous tasks in air would be among the long list of paradigm-shifting advances that defines who we are for years to come. 

Exovolar will likely join an accelerator in the near future. It is also likely that we pursue a path to revenue within the next six months in entertainment. That way we can sustainably continue our R&D without relying on excessive outside capital. We are working extremely hard toward these two near future goals.

In our opinion, by first allowing a person to fly handsfree and perform tasks in air, is the best approach to intelligently design future systems that can mimic, match, and exceed the human performance in air. If you believe in our vision and would like to support us, please proceed with your investment in the short remain period of the campaign :)

Best,
Hao | CEO @ Exovolar

02.07.22

CEO Interview Tomorrow

Hi everyone,

We've been advancing the projects mentioned previously, as well as communicating with our DoD contacts, regarding two proposals that could lead to government funding. We've also been looking for angels investors to lead the round, which I have learned throughout the equity crowdfunding process, is important to establish momentum and credibility for follow-on investments. 

The main announcement is that tomorrow (Feb 8, 2022) at 3DEXPERIENCE World, I will be interviewed LIVE from 10:45 to 11:00 a.m. (EST). It is a free event and will also be streamed on YouTube. The LIVE interview will be an open discussion of me talking about our business. If you are interested in technical content, there are pre-recorded clips of me talking about tech prior to the LIVE interview, as well as other 200+ breakout sessions include the conference program. 

Hope to see you there!

Hao,

CEO @ Exovolar

12.22.21

Why PowerGlide (and what is it) ?

Hi everyone, 

PowerGlide is an initiative aimed to produce a powered wingsuit system capable of sustained level flight. We are planning the project with Squirrel Wingsuits, one of world's top wingsuit manufacturers. In addition to the general description on our website, below are business strategies behind this initiative,


  • to bring our technology to the sky ASAP, together with air sport professionals
  • accumulate knowledge for future winged systems
  • to explore different revenue models related to the system
  • raise brand awareness & media attention 
  • potential to continue an academic research & defense use cases  
  • a step closer to a future where the superpower of flight is democratized 


Invest now to accelerate our prototyping and hiring, which are necessary to further advance the PowerGlide project. 


Hao,

CEO @ Exovolar

12.17.21

Why ProtoFlight (and what is it) ?

Hi everyone, 

ProtoFlight is an indoor human flight entertainment system we are planning, with initial interests from an undisclosed amusement park. In addition to the general description of ProtoFlight on our website, below are business strategies behind the initiative,


  • to bring individual human flight to the public ASAP and safely. Alternatives to (indoor) sky-diving and jetpack flights, we believe the autonomous level we aim for can truly bring the "superhero-type" flight experience to everyone
  • system electrification without the need for batteries (because of the tether)
  • improve on control and reliability in a safe environment in preparation for free flight regulatory certifications
  • revenue & increased traffic for both Exovolar and our partner
  • first step toward a future where the superpower of flight is democratized 


Invest now to accelerate our prototyping and hiring, which are necessary to further advance the ProtoFlight project. 


Hao,

CEO @ Exovolar

12.07.21

Featured in SolidWorks Blog

Hi everyone,


We were recognized by our CAD solution provider SolidWorks and featured as an exemplary client in their blog. Also, we've been developing our near future business strategies a lot recently. The goal is to establish market presence ASAP, in order to create value for us and our investors. We believe we have a few ways to accomplish the goal. Stay tuned for more updates. Best,


Hao,

CEO @ Exovolar

11.23.21

Department of Defense Traction

Greetings everyone, 


We received a Letter of Support from a DoD branch where they are "very supportive of the work from Exovolar" in areas related to "means for rapid, low-volume transport of individual personnel, casualties, supplies, and equipment". 


To continue working with the DoD (e.g. grant proposals) and to commit to other projects with the industry (that we have not yet disclosed), we need to hire an engineering team to show we have the capacity to take on the challenges. So far, we've only marketed the campaign to our immediate and secondary networks. Now that we have more solid traction (with more in the pipeline). We will start reaching out to angels and more established investors. We also have a proper PR campaign planned in January for us to get more media coverage.


Invest now to help us hire and accelerate our progress. 


Hao,

CEO @ Exovolar

11.10.21

Business Development News

We recently signed a letter of intent (LOI) with one of the world's leading air sport equipment manufacturer for our new collaboration project. We are keeping the details confidential as we plan for the relatively large arrangement. 


As you all know, an LOI is non-binding. I believe we are using them the proper way: instead of going for high volume, low-intent letters (for traction, a common practice that gave LOIs a bad name), we are going for strategic partners that can actually make our future plans happen. We are all super excited for the final vision of the project and the collaboration would advance technical development, product discovery, marketing, and potentially academic research for all parties involved. 


Invest now to help us fulfil our end of deal. We are very excited to see our technology soar through the sky in the near future! 


Hao,

CEO @ Exovolar

11.03.21

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Exovolar Industries 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 Exovolar Industries 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

10.24.21

So we flew with 100% throttle and did a pull-up

Our technical focus now is to design, test, and iterate the control algorithm for the four thrust vector nozzles assisting human flight. As we get more comfortable in lower thrust levels, we went up to 100% thrust in one test and this is what it looks like (things escalated really quickly) but we were able to land safely from this. 

In our latest control strategy test, we might have fortuitously done something that has never been done before, doing a pull-up in a jet suit. If you look closely, you can see the nozzles automatically adjust for a potential level flight. 

Our next steps would be getting the prototype ready and attempting taking off and level flight in one-go with a new safety apparatus setup. We are confident in our ability to do so with all the knowledge and data we've collected during our tethered hover tests.

Invest now to help us reach our future milestone!

10.10.21

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

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










REWARDS

Multiple investments in an offering cannot be combined to qualify for a larger campaign perk. Get rewarded for investing more into Exovolar Industries.

$348.00

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.

$1,000.00

$1,000+

Access to private investor newsletter

$5,000.00

$5,000+

Access to private investor newsletter + 4% bonus shares

$10,000.00

$10,000+

Access to private investor newsletter + 8% bonus shares

$20,000.00

$20,000+

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

JOIN THE DISCUSSION













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