INVEST IN STOREN TECHNOLOGIES TODAY!
Incubated at the Clean Energy Business Incubator Program (CEBIP) within Stony Brook University in New York, StorEn delivers proprietary vanadium flow batteries to revolutionize the world of industrial energy storage.
This technology brings superior performance at a lower cost, providing more efficient, safe, environmentally friendly and cost-effective energy storage. StorEn takes what vanadium batteries already deliver - durability and sturdiness - and through extensive R&D has enhanced the electrical efficiency of the stack and the energy density of the electrolyte and module, ultimately reducing costs. Our research has led to four international PCT patents and five trademarks to date.
With a battery life of 25 years and more than 15K cycles, our batteries satisfy market demand for efficient, durable and cost-effective energy storage, enabling self-consumption of self-produced electricity and the transition toward a carbon-free economy.
Unlike Lithium and Lead Acid Batteries, StorEn Vanadium flow batteries are:
Safe: Non-flammable, non-explosive
Cost Effective: Cost/kWh comparable to lithium batteries but Cost/Cycle up to four times lower than lithium batteries, thanks to the exceptional duration of 25 years or 15,000K cycles
Efficient: +35% in energy storage with the same volume, +5% Round-Trip efficiency in harsh climate
A StorEn battery module will work in synergy with the solar system. During the day, your solar panels will capture energy from the sun. This energy then charges the battery while simultaneously powering a home or office. Then, as day turns to night, the battery takes over, providing green energy consistently, and maximizing your solar system dependability.
In addition to its solar storage capabilities, the StorEn battery, in locations with dual rates, can store power from the grid at night when electricity prices are low. By using battery power during peak electricity times, clients can lower their utility bills. Our customers can safeguard the environment while saving money! Additionally, in the event of an emergency, the StorEn battery guarantees continuity to your home and vital devices such as telecommunication, lighting, refrigeration, and heating and ventilation systems. Finally, StorEn delivers additional resilience in case of a natural disaster.
Our Industrial Microgrid Solution
StorEn Technologies is developing a containerized energy storage system that will be offered to the utility and telecommunications industry. We have partnered with Connexus Energy, a Rural Electric Cooperative to build a system that will be placed at their headquarters in Ramsey, Minnesota. This system will supply 20kw of power and 100kwh of energy (5 hours run time) and will be used to demonstrate how our system can complement medium to large scale energy storage solutions in various utility applications. StorEn Technologies was selected for this project after a rigorous validation process by Connexus and by GridCatalyst, a clean energy accelerator program focused on the midwest region of the United States.
Our first system is scheduled for deployment in early 2023. The successful deployment of this first system will open up our market opportunities across the country to hundreds of small to medium size utility companies looking for stationary energy storage solutions. StorEn Technologies is currently building the cell stacks needed for this project and we have teamed up with a reputable contract engineering and manufacturing company to build the containerized system for this deployment.
Our batteries are modular. Our customers will only pay for the energy capacity they really need! Additional modules can be connected together for maximum flexibility!
The trend for wind energy in the US is as bullish as solar. Historic private sector investments are expected to expand the wind energy supply chain. In 2021 alone, investors announced $2.2 billion in new funding, including commitments to develop nine major manufacturing facilities to produce the foundations, towers, cables, and blades of offshore wind turbines (source). Supplier contracts to provide materials and services to offshore wind projects more than doubled. More opportunities are ahead, including an estimated $109 billion revenue opportunity across the offshore wind supply chain this decade. Nearly 40 GW of offshore wind is already procured, providing a strong demand for clean energy that will lower energy costs for American families while protecting them from volatile fossil fuel price spikes (source).
The Solar Energy Industries Association’s goal of having solar account for 30% of electricity by 2030 will provide an even greater boost to accelerate the deployment of solar energy (source).
For long duration storage applications in excess of 2 hours, such as offshore wind, lithium batteries are not cost effective. Vanadium flow batteries are the ideal choice!
StorEn has entered into a supply chain deal with Multicom Resources, an Australian mining company which is the owner of two vanadium mines. Through this exciting arrangement, StorEn has secured the exclusive availability of vanadium for up to 20 years with either a price cap or at market price, whichever is the lowest.
Capitalizing on the governments’ support to fulfill the Australian energy storage opportunity, Multicom’s subsidiary, Freedom Energy, will assemble StorEn batteries within Australia and distribute them widely across the wider Asia Pacific region. In addition to an initial pilot plant, Multicom has completed a concept design for a full-scale manufacturing facility for StorEn batteries.
What We Do
To support this critical mission, Storen Technologies is proud to be a member of the Alliance for Rural Electrification and the Global Off-Grid Lighting Association.
The Business Model
Battery systems that are charged by a renewable energy system more than 75% of the time are eligible for the Investment Tax Credit (ITC). Battery systems that are charged by a renewable energy system 75%–99.9% of the time are eligible for that portion of the value of the ITC.
In addition to the federal Investment Tax Credit, additional State credits may reduce the cost of an energy storage system. For example, a system charged by renewable energy 80% of the time is eligible for the 30% ITC multiplied by 80%, which equals a 24% ITC instead of 30% (the tax credit is vested over 5 years, and recapture can apply in unvested years if the percentage of renewable energy charging declines).
Although energy storage is a relatively young industry, a growing number of states and municipalities will support the installation of solar-powered batteries to accelerate the transition to renewables and the reduction of GHG emissions. Maryland established a solar battery tax credit worth 30% of the total installed system cost, up to $75,000 for commercial systems. While in California, a cash rebate is available through the Self-Generation Incentive Program (SGIP).
*This is not legal advice and investors should consult a tax professional to ensure that they qualify.
*Images are computer-generated demo versions. Product is still currently under development
The StorEn’s team is made up of experienced engineers, entrepreneurs and scientists. Each individual on our team is dedicated to our mission of developing innovative, efficient, resilient and cost-effective energy storage.
The Team is at their third energy start-up, with two successful exits to publicly listed corporations.
Creativity and Innovation
Patents in Fuel Cells, cogeneration, and energy storage.
A Shared History
Our Tech Team worked together for over 20 years. Our team is focused on launching a successful business, while simultaneously making the world a cleaner and better place for future generations.
To Our Prospective Investors,
It is an exciting time at StorEn! Last year, we completed our THIRD successful Regulation Crowdfunding campaign on StartEngine, maxing out our old StartEngine raises from hundreds of investors that share our passion for technology and the environment. Our investors contribute to companies with a higher cause.
The funds raised allowed us to hit several additional milestones, advancing our development! We were able to use these funds to design and test our cell stack technology, the heart of our flow battery system. We also brought on new engineering talent at our facility in Italy and we are working to expand our team here in the United States. I would like to thank our community for the additional support and those who invested in StorEn in our fundraising campaigns.
Following the successful independent validation of our prototype installed at the Advanced Energy Center at Stony Brook University in 2019 performed by the New York State Pollution Prevention Institute (NYSP2I) in Rochester in NYS, we commenced our early manufacturing phase. In January 2020, we delivered our first battery to Australia. The first one of an order worth up to $500,000.
In 2020, following an Award from the Empire State Development's Division of Science, Technology and Innovation (NYSTAR), we started an R&D program with Cornell University on innovative components. This work, in addition to the ongoing NYSERDA-funded R&D program with Rensselaer Polytechnic Institute and University of Illinois in Chicago, allows us to explore technological improvements that will be the foundation of our future generations of our batteries.
With the funds raised, we also entered the National Phase of the PCT (WIPO in Geneva, Switzerland) process. Thus, we selectively and successfully extended our four patents in several regions and countries, including the USA, European Union, South Africa, Brazil, Israel, Japan, India, China, Australia, Korea, Indonesia and many others, covering approximately 90% of the world population.
In April of this year, we were selected to build a containerized microgrid system to be demonstrated in a live network at the headquarters of Connexus Energy, located in Ramsey, Minnesota. This system involves having four of our current cell stacks working in tandem with each other and will help us understand the performance of our systems in a live environment. Our systems must operate in all types of climates and conditions. The winter conditions in Minnesota will challenge our system and will supply excellent data for our engineering teams to design an extremely reliable system.
We are now asking our community and those who would like to join us, to support us in the next phase of our journey, our Reg CF offering.
Please help us build a successful business while sharing a superior cause: The love for our planet! Our vanadium batteries can enable the transition to electricity generated from renewable sources, like the sun and the wind, and we envision that one day our batteries will work in tandem with solar generation in an environmentally-friendly, safe and cost effective manner.
In addition to this goal, we rest assured that our batteries in conjunction with solar panels can be the ideal technical solution to bring electrification to off-grid communities, such as the ones in developing countries, to eradicate poverty and to promote economic development!
Together we can make StorEn a success while accomplishing our incredible mission.
Help us to do well while doing good! Support StorEn!
John Davis, CEO
StorEn Technologies Inc.
StorEn answers the call for long-lasting, 100% recyclable, safe and affordable energy storage by developing evolutionary vanadium flow batteries. Their disruptive patent-pending all-vanadium flow battery technology for energy storage delivers the lowest cost per cycle in the world, up to eight times lower than lithium-ion batteries. StorEn has most recently signed an agreement with Connexus Energy, a utility company, to demonstrate the use of our system in a microgrid application that includes charging the battery with utility scale solar and using the system to charge electric vehicles (EVs) on-site at Connexus Headquarters. This first deployment will prove that our advanced energy storage technology is ready for commercial deployment. We will begin to take orders for systems with delivery starting in early 2023.
Over the course of the last 20 years, John has worked with a number of flow battery and fuel cell developers including, ZincNyx, RedFlow LTD, Deeya Energy, VRB Power, ReliON Fuel Cells and Metallic Power. During his time at VRB, one of the first vanadium flow battery companies, John oversaw the sales and delivery of the first flow battery installed at a telecom site. John was also instrumental in the standardization of hydrogen fuel cells used as stationary backup power at many telecom sites in the US and the Caribbean.
In the mid 1990’s, John held the position of Sr. Director, European Sales with Tekelec Inc. managing an extensive distribution network in 15 countries. John has a strong engineering background with a B.S. in Electrical and Computer Engineering from Clemson University.
Founder, CTO, & Director
In March 2013, Angelo founded Proxhima, a vanadium flow battery company, which was sold in May 2015 to the Gala Group, a utility listed on the Milan Stock Exchange. In 2000, Angelo founded ROEN-EST, a fuel cell company acquired by the Arcotronics Nissei group in 2003, and served as chief executive officer and chief technology officer after the acquisition. Arcotronics Fuel Cells was subsequently acquired by the Morphic Group, a cleantech holding company listed on the Stockholm Stock Exchange. Angelo was retained as chief executive officer of Morphic Fuel Cells, until the acquisition of the Group by General Electric in 2009.
Angelo holds 14 international patents and received the 2003 Sapio Award in the Energy and Transportation category with a paper titled “Technological Transfer between Research Institutions and Private Companies in the Polymer Electrolyte Fuel Cell Technology".
Angelo holds a MBA degree from the LUISS Business School in Rome.
Chief Financial Officer
Biggi has specialized in the drafting of business plans for the raising of capital (equity and debt) with numerous successful operations - and also in the preparation of financial plans for Facilitated Finance for the collection of European public funds.
He has covered the role of responsible administrative and accounting for a multinational group of medium-sized in naval field located in Europe and USA - and the role of independent financial analyst finalized to the raising of capitals of small and averages companies. He has held the role of CFO in two medium-sized companies in the field of shipping and energy.
In 2013, Gabriele was a founder of Proxhima S.r.l.
Gabriele holds an Honors Degree in Computer Engineering (University of Pisa) and a II Level Master Degree in Business Leadership (University of Genova).
Maximum Number of Shares Offered subject to adjustment for bonus shares
StorEn Technologies Inc
12 E Stone Ave., Greenville, SC 29609
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*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.
10% additional bonus shares for previous investors
Super Early Bird Bonus - First 10 days get 10% bonus shares
Early Bird Bonus - Next 30 days get 5% bonus shares
5% Bonus shares - Invest $1,000+ - get 5% bonus shares
10% Bonus shares - Invest $5,000+ get 10% bonus shares
15% Bonus shares - Invest $20,000 get 15% bonus shares
*All perks occur after the offering is completed
StorEn 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 $7.33 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $733. 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 receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus in addition to the Previous Investors bonus.
Thank you to all of our 513 investors who have helped us raise over $700K! We’re grateful to have passionate supporters like you.
This article in Energy Storage News details how the State of NY is leading the country in promoting the use of energy storage to help curb the rising cost of electrical energy generation and transmission. StorEn Technologies continues to participate as a member of NYSERDA's Incubator Program at Stony Brook University. Our goal is to be a solutions supplier for many of the upcoming projects planned in the next few years. Our work at Stony Brook will help us compete in this market.
Now is the time to invest in the future of energy storage. Support StorEn today!
We are excited to share pictures of our first two microgrid systems that are presently being built. The containers have been cleaned, prepped and painted and we will soon begin populating them with the flow battery components.
These flow battery systems, when complete, will supply 40KW of power and 200KWhr of energy and will be used for functional field testing and to demonstrate the operation of our flow battery when used in industrial applications.
The first system is scheduled to be installed at our utility partner Connexus Energy in Ramsey, Minnesota. Connexus will install the system at their headquarters and will run the system on a daily basis. The system will be connected to the grid, as well as solar generated energy. The battery will discharge by connecting to EV Charging Stations on site. We will test the system in extreme weather conditions to prove our flow battery is able to withstand the harsh winter weather conditions of Minnesota.
We plan to build many more of these systems for utility companies all across the country.
Thank you to our team and partners for the hard work that is making this project possible.
The StorEn team wishes you and your family a prosperous, healthy and joyous New Year!
With the start of 2023, the global focus is shifting towards renewable energy sources. The need for alternate solutions in the energy storage arena is crucial.
In this latest article on Benzinga, the advantages of vanadium over lithium are discussed .
You can read the full article here.
We’re excited to share that we’ve now raised over $660k! Our campaign is still going strong and there’s still time to invest.
Support the future of energy storage today!
Wishing you a happy holiday season! We hope you have a wonderful time with your loved ones.
To our investors. THANK YOU for committing to StorEn Tech. Your support has been crucial to the company’s successes throughout the year and many more to come in 2023!
We’re thrilled that Stony Brook University has written about StorEn and our product offerings in this latest article.
And good news: We’ve extended our campaign for another 60 days! You still have time to invest in the future of battery storage.
Thank you to all of our 471 investors! You are one of hundreds of investors joining the movement for long-lasting, 100% recyclable, safe and affordable energy storage.
With your help, we will continue to make StorEn a success!
Residential battery storage capacity in Europe is set to reach 9.3GWh by the end of this year, according to SolarPower Europe in the recent article in Energy Storage News.
These numbers qualify StorEn’s decision to enter the residential space.
Don’t miss out on the opportunity to become an investor in the future of battery storage.
We’re thrilled to be featured in the financial media outlet Benzinga. The article titled “Incentives Flowing From Inflation Reduction Act 2022 Could Open Doors For Home Owners And Industrial Units To Invest In Vanadium Batteries” is helping to spread the word about energy storage, and particularly StorEn Tech:
“The new IRA brings benefits to power storage whether it is tied to renewable energy production or not. For instance, homeowners could receive a 30% tax credit for installing residential solar panels, solar energy storage systems, or even standalone energy storage systems that are installed in 2023 and beyond – enabling them to save on energy expenses, lower project costs and consume more renewable energy.
Companies like StorEn Technologies could have a role to play in helping homeowners and commercial enterprises implement an optimal energy storage solution…”
For the full article, click here.
Invest today by clicking here.
[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the StorEn Technologies offering. Here's an excerpt describing the specifics of the change:
Issuer is extending the campaign end date
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
These are exciting times for the energy storage industry. A recent article in The Atlantic brings even more good news to the Inflation Reduction Act:
“Late last month, analysts at the investment bank Credit Suisse published a research note about America’s new climate law that went nearly unnoticed. The Inflation Reduction Act, the bank argued, is even more important than has been recognized so far: The IRA ‘will have a profound effect across industries in the next decade and beyond’ and could ultimately shape the direction of the American economy, the bank said. The report shows how even after the bonanza of climate-bill coverage earlier this year, we’re still only beginning to understand how the law works and what it might mean for the economy.”
Yes, the climate economy is about to take off and StorEn is here for it!
In case you missed it…
StorEn is one of the startups that were hand-picked as an emerging technology for 2022! To get the full overview of the Top 10 Energy Storage Trends & Innovations that impact 1,366 companies worldwide. To read the full article, click here.
I am convinced StorEn has a clear path to commercialization and profitability. I will continue to keep you updated as we meet our milestones. Please support the next phase of our growth by investing in StorEn today!
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