Pacific Integrated Energy

Next-generation solar technology

Pacific Integrated Energy

Next-generation solar technology

San Diego, CA
Technology
Clean Technology
To make solar energy far more practical and competitive, PI Energy is developing a next-generation of solar photovoltaic (PV) materials. Our novel materials are thin and flexible solar nanofilms, which enable solar PV with a low installed-cost, that is safe, and can be applied on almost any surface. These combined advantages open vast new untapped markets for clean energy.

$200,764

raised
$1,031,190
previously crowdfunded
181
Investors
$87.9M
Valuation
$12.50
Price per Share
$500.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$3.94M
Offering Max
Reg CF
Offering

$200,764

raised
$1,031,190
previously crowdfunded
181
Investors
$87.9M
Valuation
$12.50
Price per Share
$500.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$3.94M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into Pacific Integrated Energy:

$500+
Investment
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+
Investment
Tier 1
5% Bonus Shares.
$2,500+
Investment
Tier 2
7% Bonus Shares.
$5,000+
Investment
Tier 3
10% Bonus Shares.
$10,000+
Investment
Tier 4
15% Bonus Shares + Phone Call with the CEO.

Reasons to Invest

Transformational Technology - PI Energy’s solar technology is ultra-flexible, durable, non-toxic, and lightweight, so that it can be installed at a low cost on almost any surface.
Expanding Market - Our technology can greatly expand the current multi-billion dollar solar module market and put clean energy on a far faster growth path.
Great Team - Our team includes technology, innovation, and industry experts with decades of unique work experience.

“Next generation of solar PV for installation on most surfaces”

Photo of P4 prototype material in development. P4 is not currently available on the market.

The Problem


In 2021, clean energy is still limited and expensive

Climate change is the greatest challenge faced by humanity. If we assume no fundamental improvement in renewable energy technologies, fossil fuels can be projected to remain 85% of global primary energy consumed through 2040 (Source).

Every day, our planet receives vast amounts of clean energy in the form of sunlight, and solar energy is by far the most abundant source of potential clean energy. With the right technology, properly harnessing the power of the sun could supply more than 1,400 times all the energy consumed by humans. 

Solar energy is the most abundant potential source of clean energy. Today, the installed cost of clean energy is still too expensive for most consumers in the US and around the world.  

Cost issues are even more important when we look at the worldwide deployment of clean energy. Global emissions growth will be largely determined by the energy choices of the most populous, least affluent, and fastest developing nations. To move away from a fossil fuel-driven development path, a low-cost, clean energy, that can be practically scaled globally is required (Source). 


With current market technologies, solar energy still represents less than 1% of global energy consumed. PI Energy intends to change this path to our energy future. 

About 90% of installed solar PV modules are traditional crystalline-silicon (c-Si). This type of solar panel is relatively heavy, rigid and fragile; which makes it expensive to install and significantly limits what surfaces can be used for solar PV. These surfaces are mostly: roofs that can carry the additional weight, and solar farm projects which - both require heavy rack and mounting hardware. 


About 10% of the remaining installed solar PV in the market today is are Cadmium Telluride (CdTe) and Copper Indium Gallium Selenide (CIGS), which are somewhat flexible, but they contain toxic and scarce elements, which limit where they can be installed. Clean energy should not include the widespread adoption of toxic elements, and it cannot be broadly adopted if scarce elements are used. 


According to MIT, current market solutions for PV are not globally scalable. For solar energy to be a meaningful part of global energy, it must be practical to install on most surfaces, at a low installed cost, and be made of earth-abundant, non-toxic elements. This is the technology that PI Energy is developing.  

The Solution


The next generation of solar energy

We believe that PI Energy’s solar technology design is different from any solar PV in the market today. The key difference is the sum of properties: ultra-thin, flexible, non-toxic, durable, good performance, lightweight, and low-install cost. These advantages enable a vast amount of new applications like wrap-around PV for electric and hybrid vehicles (cars, buses, vans, trucks, trains, and ships), electronic equipment and devices, and most surfaces of buildings, walls, infrastructure, as well as most fixed structures.


Concept of PI Energy's technology being deployed on many types of vehicles, with color layers.

Many commercial and industrial roofs are made of thin sheet metal, and cannot support the additional heavy weight of traditional c-Si solar PV without expensive reinforcement. Large data centers, like the massive buildings housing Amazon Web Services and Google cloud storage, represent a new market segment addressable by PI Energy. Our technology moves solar PV power generation closer to the location of power consumption, thus reducing expensive transmission and grid infrastructure costs, while using surfaces on existing structures.


Other current market solar PV technologies that are not as heavy as c-Si, such as CdTe, CIGS, and Perovskites, contain toxic elements (e.g., cadmium and/or lead), which pose a challenge for applications in proximity to humans (Source).  

 

We believe the unique combination of properties of PI Energy’s technology meets all the necessary characteristics required for a solar PV technology that can be globally scaled so that it can supply a large portion of the global energy market. 

Generating more clean power locally, where the power is consumed, instead of large remote solar farms away from population centers, provides benefits of reducing grid congestion and infrastructure costs. Most electric power costs for consumers come from power line transmission and other grid infrastructure costs. With PI Energy’s distributed clean energy generation approach, significant additional cost savings, in reduced grid costs, are an added benefit to making clean energy more competitive and scalable.

The Market


A global market with an ever-growing demand

Currently, the total grid-connected energy market is about $2.6 trillion per year globally, and the available solar PV module market is only about $46.6 billion in module sales annually in 2020 *.


We believe our estimated serviceable obtainable market is at least about 25% of the current photovoltaic module/panel market, or about $11.7 billion. We see a unique untapped opportunity, addressable by PI Energy, for vehicle-integrated PV in the growing untapped electric vehicle market.

*  Sources for data

TAM Source 1 and SAM Source 2

In 2018, there were 5,000,000 electric cars worldwide with a growth of 68% over the previous year. The same year there were 460,000 electric buses, with a 25% annual growth (Source). This represents an $8.3 billion/year untapped serviceable solar market for new vehicles. In 2019, Amazon announced it will purchase 100,000 new electric delivery vehicles (Source). 


In 2020, California passed a mandate that all new vehicles sold starting in 2035 must be EVs. Several automobile manufacturers have announced plans to go completely electric by 2030 (Volvo, and in Europe, Ford) or 2035 (General Motors).


This is an unaddressed market for solar PV integration, as there is no scalable market-available solar PV technology that can be practically applied to electric vehicles safely or at a reasonable cost. PI Energy intends to provide its PV material technology for wrapping onto electric vehicles, where it would serve as a range extender, for example, providing passenger vehicles and delivery vans approximately 20 miles (32 km) of additional range on a daily basis in a region with good solar resources like southern California.

*This statistic is sourced from the International Energy Agency - GW modules installed globally multiplied by the average module price figures (Section Sources Source 1 and Source 2)



Concept of PI Energy's technology being deployed on a vehicle, with a color layer.

Our Traction


Significant raises and improved technology

PI Energy’s P4 material on an electrical test probe. P4 is a prototype and not currently available on the market.


Transformational hardware innovation, including energy generation equipment, often takes many years to develop. This type of innovation is also known as “Deep Technology” (deep tech) or “Hard Technology” (hard tech) when a technology solution is based on substantial scientific and/or engineering challenges. Historically, new solar cell development has taken about a decade of dedicated work. PI Energy has dedicated the time, focus, and expertise to develop a fundamental innovation for solar PV over the past decade. With advanced technology, PI Energy intends to grow the solar energy market far above present trends.


The estimated 2020 solar PV module global market is:

According to MIT, for a solar PV cell technology to provide a globally scalable market-driven solar energy solution, all the key advantages (green) are required, while avoiding disadvantages (red):

To fund its technology development, PI Energy has raised over $16M during the last 10 years of technology development, mostly from private investors, including family offices with direct experience in renewable energy and electric vehicle markets. The goal of PI Energy is to enable a rapid expansion of clean energy globally by deploying its technology to make solar energy a competitive and practical energy choice for most consumers around the world. We see the present solar market as relatively small, in relation to its enormous potential. We want to harness market forces to deploy competitively priced clean energy at a global scale.

Shown below are a few images, out of over 2,000 fabricated prototype samples, in the course of a decade of PI Energy’s technology development:

The first two pictures are P1 prototypes under an electrical test probe. The next couple are iterations of P2.  The circular devices with grids are tests of P3. The last picture is an early picture of testing material processing techniques for the latest generation, P4. These are all prototypes not yet available on the market.

Our team of experts is driven to meet this commercial and sustainability goal. We have built hundreds of prototypes of our nanofilm PV technology, arriving at the current design, which we intend to commercialize. PI Energy’s team is currently advancing our most recent P4 prototype, and integrating various manufacturing techniques, to complete a fully integrated PV material that we can then commercialize. Our goal is to produce the first integrated PV material of the current generation design in 2021. As a part of our development process, a full patent was filed for our current generation PV material design in December 2020.

*This video discusses our prototype products which are currently in development and pre-production. 

What We Do


Ultra-flexible and lightweight solar materials

PI Energy is continuing to refine and develop its unique and flexible solar module, so that it can be fabricated on a roll-to-roll manufacturing process, using demonstrated high-volume manufacturing processes. We expect our product will be about 40 times thinner than traditional c-SI solar PV, made of earth-abundant and non-toxic elements.

Development Stage

The technology is currently still under development. We are in the process of building prototypes to demonstrate the technology and the manufacturing process. We have built multiple initial prototypes that are developing various steps of this process. The full integration of all steps comes after each sum of steps has been demonstrated and optimized. These are small area prototypes, which after demonstrating at thin-film commercial efficiencies, we will move to larger-scale pilot demonstration along with pilot manufacturing.


Solving a Critical Problem for Clean Energy


The low surface power density of renewables is one of the biggest challenges confronting a transition to clean energy. Power density represents how much power can be generated from the area occupied by an energy source (e.g., fossil fuels, nuclear, wind, solar, etc.). Power density (watts per unit area) includes all the area that is committed to generating energy. For biomass, this area includes the fields of cultivated crops where the material is grown. For fossil fuels, this area includes the extraction and processing facilities as well as the power plant. Nuclear power has attractively high power density, but its costs have not been competitive with fossil fuels and there is substantial controversy on safety as well as the challenges of nuclear materials proliferation. Natural gas has the highest power density of fossil fuels, but that is offset by its “super-potent” greenhouse effect (about 120x worse in the short term than CO2) from gas leaks during extraction and transport. The chart shows the range of power densities for different energy sources.

Solar PV has the highest power density of renewables, but its power density is still less than 1/10 to 1/100 that of fossil fuel-generated power. According to Professor Vaclav Smil (Source), a leading energy transition expert, using existing market solar technologies, traditional PV projects would require covering millions of acres of valuable land worldwide to make renewable energy significant which is impractical and unfeasible.  


A natural landscape cluttered with vast expanses of rows of solar PV panels is not the future we want to see. Also, precious farmland should not be replaced with utility-scale PV projects.  Some of today’s renewable energy projects require 1,000 times more land than fossil fuel power plants to generate the same average power. We think the best approach is to use existing surfaces that are closer to where the energy is being used, therefore a new approach to solar PV is necessary. These surfaces include existing buildings and vehicles. 


 A solar technology that can lead a transition to clean energy must be:

  • Installable on almost any surface (lightweight and thin).

  • Free of toxic materials (does not create new problems).

  • Composed of earth-abundant elements (unconstrained supply).  

  • Good performance on hot sunny days.


This is what we are developing at PI Energy.  

The Business Model


Making solar energy practical worldwide by opening up untapped markets

PI Energy needs to be efficient and seek out the path of least resistance, as we plan our entry into the global energy market, which was estimated at $1.089 billion in 2019. With many addressable market segments and consumer applications for PI Energy’s technology, there are several paths we have identified for commercialization: 

 

  1. Unaddressed markets: In the first phase of commercialization, our product will be targeted toward customers and markets where other solar PV technology does not meet customer requirements. This untapped multi-billion dollar market requires a solar module technology that is lightweight, non-toxic, and flexible. These initial target markets include commercial/industrial sheet metal roofs, solar PV-on fabric, and electric and hybrid vehicles. We have met and discussed with several potential initial customers in several countries to better qualify these market segments’ needs. For these and other high-margin markets, PI Energy plans to utilize its planned small-scale production line.

  2. Partnering with manufacturers/distributors: To bypass costly manufacturing scale-up and global distribution challenges, PI Energy plans to partner with high-volume manufacturers with global distribution. All of the potential partnership candidates we have currently met with are not fabricating solar cell materials but would like to expand their market with PI Energy’s technology.

  3. Licensing: Our licensing approach allows us to provide our technology to multiple markets and regions. Licensing enables seamless integration with other products, including most vehicles, external building materials, equipment, textiles, and more.


How We Are Different


Making solar PV practical, affordable, and easy to use

PI Energy’s solar cell technology provides unique market advantages over traditional solar PV.

According to the USGS, Indium and Tellurium, used in CIGS and CdTe solar cells, are not directly mined and are byproducts of copper and zinc mining and processing.

  1. The market is dominated by c-SI modules, which have good performance and durability, but are rigid, fragile, and heavy - which limits how and where they can be installed, even at a high price.  

 PI Energy’s technology allows for solar materials that can be wrapped onto almost any solid surface at a low-installed cost.

  1. The commercial market for traditional PV has been led by utility-scale, large solar farms, to take advantage of economies-of-scale. However, this requires the generated electricity to travel long distances from remote locations, to reach the point of electricity consumption.

PI Energy’s technology is intended for installation on pre-existing surfaces, such as buildings, vehicles, and equipment, near where the electricity is consumed.

  1. Current market rooftop solar PV requires rack and mounting hardware installation, which requires a roof to hold significantly more weight. This further limits where solar PV can be installed today.

 PI Energy’s technology is lightweight and wrappable. No need for cumbersome, heavy, and expensive rack and mounting hardware.

  1. Most building codes restrict where traditional PV can be placed on rooftops.  Most current PV racks, mounts, and panels create obstructions for roof access, which can hinder roof inspection, repairs, and fire fighting.

 PI Energy’s technology allows for solar PV to be surface-integrated, placed directly on the roof, and span almost the entire roof area so that it can be walked on without blocking roof access.

  1. To get the most energy from solar PV, it is best to keep solar modules from overheating, which is common on sunny days. Solar cell efficiency actually falls "with increasing temperature". More sunlight provides both energy, which can be converted into electricity, but also unconverted light, that turns into waste heat. This waste heat increases the temperature of the solar cell. At higher ambient temperatures this heat tends to get trapped in thicker solar cells, lowering their performance. Thin-film solar PV can dissipate heat faster and has much less degradation at higher temperatures than traditional thicker solar PV.

 PI Energy’s technology has the advantage of being very thin, with a solar cell that is only about 1/40th the thickness of traditional c-Si.  This allows a PI Energy solar technology to operate at higher ambient temperatures, with less efficiency loss than thicker traditional c-Si PV.

The Vision


Long-term plans for clean energy 24/7

We want to help bring about a future that is clean and globally sustainable.


We envision PV on most external surfaces for residential, commercial, and industrial markets, and wrapping electric cars & buses, mobile devices, and more. Over the next decade, we intend to reshape the path of renewable energy globally and bring clean energy within the reach of almost every region and market.


While the sun provides ample energy that could meet all human energy needs, we need to manage the variation of sunlight due to night/day cycles and cloud cover. Initially, during the first years of commercialization, we expect that PI Energy’s technology will reduce the consumption of traditional energy generation. Over the longer term, to manage the variability of sunlight for fixed installations (e.g., building-integrated PV) and for electric vehicles, we need to look at two complementary solutions:  energy storage and thermal conversion energy technology. 


PI Energy plans to expand its solar energy product across multiple markets. We plan to sell into our own high-end production capability that will service the high-margin markets. To expand internationally, we plan to utilize regional partners, which can provide funding for regional production and commercialization, and/or partner with distribution and sales channels. Using this model, we expect revenues will be more resilient because they are based on multiple markets, both traditional fixed installations and also consumer products. Our target customers will be in several markets, and we plan to establish multiple sales channels into OEMs, as well as partnerships with direct suppliers to solar installers.

Complementary technology innovation


In addition to PI Energy solar PV technology, at an earlier stage of development, we have been working on complementary technology that could expand solar performance to include advanced thermal-to-electric technologies. These advancements come from work performed with university partnerships. Our long-term vision is represented in our company’s full name, Pacific Integrated Energy (abbreviated to PI Energy). We plan to provide a more integrated clean energy solution, providing clean energy 24 hours a day.


Collaboration with Energy Storage innovators


Over the long term, we also plan to partner with energy storage solutions that align with our approach and plans: technologies that are globally scalable (using earth-abundant and non-toxic elements) and cost-disruptive (that can provide good performance and be deployed at a low cost). Collaborating with such enterprises, we can be more effective and competitive, as we look down the energy transition path, to a clean energy future for the whole planet. We plan to partner with these companies in pilot projects and further collaborative commercialization, which could include a micro-grid that could be drop-shipped.

 

Adding Color to Solar PV


A surface that is black in color can absorb more visible light, so many solar PV materials are black. As many customers may prefer other colors, we plan to integrate an additional color layer to provide diverse colors for automotive, architectural, and surface-integrated solar PV. To have a non-black color means that some visible light must be reflected, so it will have a slightly decreased performance. We want to provide the choice to customers so that they can choose a surface color. We think that clean energy should be low-cost, well-performing, and also could be aesthetically appealing to more customers.  


We plan to expand solar energy’s potential by increasing where and how it can be installed, from vehicles to complex cityscapes that could be producing clean energy, making large areas of solar PV possible within cities.

Our Team


Scientists and engineers working as a team for an impactful solution

PI Energy was founded by Phil Layton, a physicist and intellectual property attorney, with over 20 years of experience in nanotechnology development, aerospace, and defense commercialization of those technologies. PI Energy employs scientists and engineers with expertise in a wide array of fields, including materials science, device physics, chemistry, plasmonics, nanotechnology, nano-engineering, hardware testing, and fabrication. The team has been working together for 10 years, overcoming numerous challenges. They are veterans in commercial development. The team is highly motivated and passionate about advancing real-world commercial solutions for a better environment.

Why Invest


Groundbreaking technology for a cleaner, brighter future

PI Energy has developed a novel and groundbreaking solar energy technology, creating the opportunity to accelerate the expansion of solar PV by making clean energy more practical and affordable than ever before.


PI Energy’s team is developing its proprietary materials to create a product with new and better capabilities for the renewable energy market: a solar energy module that is ultra-flexible, lightweight, non-toxic, durable, high performing, and made from earth-abundant materials. With PI Energy’s technology, we plan to expand and create new markets for solar energy, growing the solar PV market, so that clean energy will be far more accessible, practical, and cost-effective.

Offering Summary


Company

:

Pacific Integrated Energy, Inc.

Corporate Address

:

6650 Lusk Blvd Ste B204, San Diego, CA 92121

Offering Minimum

:

$10,000.00

Offering Maximum

:

$3,938,287.50

Minimum Investment Amount

(per investor)

:

$500.00











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

800

Maximum Number of Shares Offered

:

315,063

Price per Share

:

$12.50

Pre-Money Valuation

:

$87,861,525.00











*Maximum Number of Shares offered subject to adjustment for bonus shares. See Bonus info below.

Investment Incentives*

Time-Based

Friends and Family Early Birds

Invest within the first 48 hours and receive additional 15% Bonus Shares.

Super Early Bird Bonus

Invest within the first week and receive additional 10% Bonus Shares.

Early Bird Bonus

Invest within the first two weeks and receive an additional 5% Bonus Shares.

Amount-Based

$1,000+ | Tier 1

5% Bonus Shares.

$2,500+ | Tier 2

7% Bonus Shares.

$5,000+ | Tier 3

10% Bonus Shares.

$10,000+ | Tier 4

15% Bonus Shares + Phone Call with the CEO.

*All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

PI Energy 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 Non-Voting Common Stock at $12.50 / share, you will receive 10 additional shares, meaning you'll own 110 shares of Non-Voting Common Stock for $1,250. 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.

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: Vendor payments. Any expense labeled “Travel and Entertainment”. Salary payments made to one’s self, a friend or relative.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$495,112.00 USD
$179,794.00 USD
Cash And Cash Equivalents
$251,219.00 USD
$148,318.00 USD
Accounts Receivable
$4,715.00 USD
$8,453.00 USD
Short Term Debt
$205,883.00 USD
$134,546.00 USD
Long Term Debt
$476,268.00 USD
$176,268.00 USD
Revenues And Sales
$6,500.00 USD
$6,000.00 USD
Costs Of Goods Sold
$4,807.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$1,211,884.00 USD
-$1,872,477.00 USD

Risks

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.


Updates

Market potential review by University of Washington MBAs

10 days ago

MBA students from University of Washington Foster MBA program looked at some of the addressable markets for PI Energy as their capstone project. This segment focuses on their findings on the unfilled opportunities that exist for two rapidly-expanding markets: data centers and EVs. 

PI Energy is uniquely poised to enter these markets. Check out this video to learn more details.


Progress on Processing

13 days ago

Here is a photo of a recent PI Energy materials in a sample holder, prepared for a fabrication process step.   The processing was successful.  We were able to repeat the fabrication process across multiple samples.  The device will next be integrated into a working solar PV device for further testing .  

Stay tuned!

Notice of Funds Disbursement

13 days ago

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

Hello!

As you might know, Pacific Integrated Energy 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 Pacific Integrated Energy 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

New facilities fully operational

16 days ago

Here’s a picture of some our team at our new facility.  

There was a lot of equipment to set up, and we are happy to report we are fully operational.  

Notice of Funds Disbursement

about 1 month ago

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

Hello!

As you might know, Pacific Integrated Energy 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 Pacific Integrated Energy 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

PI Energy for Electric Vehicles (Part I) - Solar Range Extension

about 1 month ago

A promising and unique market for PI Energy’s technology is the electric vehicles market.  We want to address a frequent question:  how far could one drive a car wrapped with PI Energy’s PV technology?

PI Energy – concept installation for solar film

While our technology is still in development and the final performance numbers will require a real-life test, we expect that PI Energy will provide a compelling market solution.  Although there are no current commercial EVs in the market with substantial solar PV, there have been some notable feasibility tests.  In 2019, Toyota announced its participation in road trials of electric vehicles equipped with high efficiency triple junction solar PV modules that covered a limited area of the car, the roof, hood and back window.  This extended the driving range and allowed the vehicle to charge while parked or while driving during the day.  The triple junction solar modules used in the demo test vehicle are extremely expensive, so commercially they are used to power space satellites, where their relative cost is small.  Toyota’s stated results of the demo vehicle were 27.7 miles (44.5 km) per day range extension, which is just over the average daily driving in the US in 2017.  This suggests that a cost-effective PI Energy solution, that can cover more surface area, will be of commercially valuable.   

 

A big challenge to integrate solar modules on electric vehicles is that most car exteriors are curved surfaces.  In the Toyota test, the solar modules were made up of many smaller articulated modules, so the area actually covered with solar modules in the demo was decreased due to spacing of traditional modules across the vehicle’s curved surfaces.  Notably, the Toyota demo vehicle only had solar modules installed on some top surfaces, leaving a large portion of surfaces free from modules.  

 

PI Energy’s solar film, with a low-installed cost can be wrapped on a passenger vehicle, enabling harvesting of sunlight across a larger area, including most of the car surface, without covering the windows (which are helpful to see the road).  PI Energy’s technology design allows for capturing off-angle sunlight, extending solar energy collection to the morning and afternoon.  We project that PI Energy’s commercial solar PV materials could provide about 20 miles per day average, in Southern California for a typical electric vehicle, at a market competitive price.  The graph below shows the relative sunlight capture on a traditional solar module demo (left) and PI Energy’s technology (right), where all of the blue surface would be covered by PI Energy’s solar PV material.

Traditional solar module installation versus PI Energy’s EV concept.

The benefit of PI Energy’s technology for passenger EVs is:

  1. Competitive cost for installed solar wrap modules.
  2. Good performance at high temperatures – this is important as car surfaces warm up in sunlight.
  3. Extending the electric vehicle range by to about a typical daily commute.
  4. Good off-angle sunlight performance.
  5. Charging infrastructure requirements can be substantially reduced.
  6. On-board passive daylight charging, with less plug-in fast charging, extends battery life and performance.

 

Funding Milestone

about 1 month ago

Our team at PI Energy is grateful to each of you for helping us launch our Reg CF campaign, so we can bring clean energy to be practical and at a low-installed cost around the world.

Since we launched we raised already over $100,000.  We are just at the start of a new beginning for clean energy.   Please stay tuned for updates on PI Energy and spread the word.   


Thank you for your support for a better future.

Let’s power up the planet!

We just released our new video - check it out

about 2 months ago

We put together a new video on the top of the PI Energy page on StartEngine.  https://www.startengine.com/pienergy

The video has animations showing how we are planning future installation of our technology, as well as a description of our path ahead.  It is narrated by some of our board members and founders.  

Despite our limited video production skills, we hope you will enjoy the video.

Most Popular Questions this Week: Stage of Development and Valuation of PI Energy

about 2 months ago

We received a lot of good questions over the last week and we wanted to address two that were popular and are interconnected, 1.) What is the stage of technology development & commercialization and 2.) What is the basis of the valuation?  

 

1).What is the development stage of the Company?  

PI Energy is in pre-commercial technology development-stage, for our next-generation solar cell technology.  As we progress in our development process, we estimate a lowered risk for meeting our technical and manufacturing goals.  The steps to commercialization are: 1.) to complete the development of our P4 solar cell, 2.) initial pilot deployments, and 3.) commercial production and distribution.

 

We have met with and spoken with over one hundred potential customers and distributors, as well as some large companies for a collaborative for global-scale fabrication and distribution.    The interest has been extensive especially in the new enabling markets and globally to expand solar in underserved and unaddressed markets. Our goal is to advance our technology to a point where we can start some initial pilot and/or test installations.

 

2) Valuation.

The addressable market includes the current solar PV module market, which comprises the +$46 billion/year in solar module sales, with the potential to expand into the +$2 trillion/year electricity market.  In addition, the potential market includes the new markets where current solar PV modules are not a significant part of the market. This includes the electric vehicle market which we estimate to be about $8.3 billion and growing, along with other areas of transportation, including trains, ships and aircraft.

To determine the valuation, PI Energy’s board of directors included in the internal analysis:  progress of the proprietary technology development, projected competitive advantages, technical assessments, addressable market size and comparable market valuations are also considered.  For valuation comparables, we found pre-commercial energy technology companies over the past year that were raising funds or trading at valuations, which on a risk-adjusted basis, were significantly higher.  Ultimately, the board decided to take a conservative position on the valuation, based more closely on our current technology development stage, which is how we arrived at the current valuation.  

 

In 2010 our initial valuation of $24 Million was set after a hedge fund investment, and then the Company raised over $11 million more from sophisticated investors with sector experience. After building and testing hundreds of prototypes, evolving our processes and proprietary know-how, filing patents, developing PI Energy’s potentially market-disruptive technology, we arrived at our current valuation.  

Our second round is now live. You can become an early investor for special perks.

about 2 months ago

We are excited to be back after our last successful round. 

We have made good progress on our prototype since then.  Check out our campaign page for the latest information.

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