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*The market calculations above are calculations from internal research - source
We raised over $1.4M in our first Regulation CF offering, which closed earlier this year. With the passage of the 1+ trillion dollar Infrastructure package in the spring and the 1+trillion dollar Inflation Reduction Act this summer, federal money is now reaching renewable energy projects, including environmental improvement projects such as fish passage at dams. We now have an urgent need to expand our sales and marketing teams and grow our operations. Since we filed our last funding round, we have been busy executing on our strategic plans.
We believe the funds we raise in this round will help us tackle a few key initiatives that will drive our success in 2023 and beyond. Objectives include: launching a state-supported initiative to deliver multiple Passage Portal systems in six key Washington state watersheds; delivering a complete Guardian system to tackle the invasive carp problem in the midwest; and hiring more top talent to accelerate our growth.
At Whooshh, our guiding principles are simple.
SAVE the fish: We deploy novel products designed and developed to improve fish welfare, fish passage and spawning success.
FEED the planet: Fish provide critical nutrients for the planet’s ecosystems and are the number one protein for the people on it.
GROW clean energy: By enabling more efficient use of our water resources, we enable the growth of clean renewable energy.
Supporting native fish populations is more critical now than ever. Native fish are an integral part of their habitats and ecosystems - playing an important role in nutrient cycles, and a crucial part of the food web (source).
Now, faced with growing challenges such as climate change, inaccessible habitats, and invasive species, we've found that this crucial migration is becoming increasingly difficult.
There is an urgent need for safe, effective fish passage without also enabling access for invasive fish species that can out-compete native fish species.
Our Technology Solutions
“ The fish pass through without so much as a scratch. Also, you won’t have to divert water, as you do in a ladder system. Out here, the economy is all about agriculture, and water is gold. That’s what makes Whooshh such a great concept.” Mark Johnston – Yakama Nation Fisheries Biologist
We believe that supporting renewable energy is an important part of the fight against climate change, and an essential component of caring for our planet earth (source).
Hydropower is the largest producer of renewable energy in the world - so we developed a better way for hydropower and healthy native fish populations to coexist and grow (source).
Our goal is to restore native fish species to their historical numbers to feed the planet and the people on it - while simultaneously enabling hydropower producers a more efficient use of the shared water resources.
Our Passage Portal™ products permit fish to swim in on their own, and the automated FishL Recognition™ system selectively sorts the fish before they glide through our Migrator™ tubes, regardless of geography, height of obstacle, water temperatures or changing water levels, …. all in less than a minute.
We have integrated scanning, sorting and invasive species removal features in order to enable selective fish passage. This way, we never stop collecting images and data and learning about the local habitat - and the fish who call it home.
Here's how it works: Fish swim in on their own, have their picture taken using our FishL Recognition™ scanner to determine among other factors, species and size. It can perform selective fish passage, ensuring only native fish swim through a fishway upstream or downstream, and it can remove unwanted or invasive species.
The maximum capacity of one Passage Portal™ is 40 fish per minute or 57,600 fish per day, more than many rivers see in an entire year. In short, we enable fish to easily transport themselves over barriers without stress or injury, all in a flexible, misted, temperature-controlled Migrator tube. Fish float over land or infrastructure barriers from point A to Point B in seconds, without requiring huge amounts of water and power as is often required for traditional systems.
We began generating significant revenue in 2020 after completing our R&D on our first generation Passage Portal™. That year we achieved a net profit for the first time. We recognized $5.6 million in revenue, with an EBIDTA of $2.82 million and a gross margin over 60%.
With Covid 19 shutdowns, project delays, and travel restrictions in 2021, our product and service revenue was hit hard. 2022 business revenue is rebounding and revenue in the first half of 2022, as of August is already 157% more than the entirety of 2021 revenue.
With the U.S. federal government's passage of the $1+Trillion dollar infrastructure bill (source), and more recently passed Inflation Reduction Act (which favors climate, energy, health care, and taxes and the lifting of Covid restrictions) we expect 2023 and the next 10 years will continue to see robust growth.
Our customers already include:
HOw We ARe transformative
Our systems are modular, flexible, and cost a fraction of the amount required to build and operate a custom civil engineered solution, for a better, safer, faster, migration for native fish without spilling water.
Our systems assist native fish to pass over dams in seconds to reclaim access to their spawning grounds. This means fish expend far less energy, experience less stress, and are therefore reaching cleaner, safer, water and spawning habitat, with fewer pre-spawning mortalities.
We also do not require concrete infrastructure or any extra, unnecessary use of water or impose a permanent environmental footprint.
Our gentle handling of fish without producing waste water, reduces injuries, mortalities, and stress - overall improving survivability, fecundity, and ultimately our product value.
*Whooshh Passage Portal system
Our executive leadership team are seasoned entrepreneurs, dedicated, and driven to see the company achieve success. We come from software, hardware, pharmaceutical, fisheries and consulting companies. We bring PHD, MBA, LLM, JD, CPA, ME, MD, BA, BS advanced degrees to our multidisciplinary company which we believe provides us with an advantage.
Enabling fish to safely glide past barriers while producing more hydropower flow.
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*Maximum Number of Shares offered subject to adjustment for bonus shares. See Bonus info below.
VIP’s - First 10 Days | 50% bonus shares
Influencers - Next 10 Days |35% bonus shares
Fans - Next 10 Days | 15% bonus shares
First Volume Tier – $5,000+ -- 5% bonus shares
Second Volume Tier - $7500 - 10% bonus shares
Third Volume Tier - $10,000 - 15% bonus shares
Fourth Volume Tier - $15,000 - 20% bonus shares
Fifth Volume Tier - $20,000+ - 25% bonus
*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.
Whooshh Innovations 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 $3.00 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $300. 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 aforementioned bonus.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Any expense labeled “Travel and Entertainment”. Salary payments made to one’s self, a friend or relative. Vendor payments. Inter company debt or back payments.
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