Dear Investors of Prime Lightworks,
StartEngine Reg CF Campaign Maximum $1.07M Investments Raised:
We are excited to announce we have reached our campaign fundraising maximum of $1.07M through Regulation Crowdfunding on StartEngine! Thank you so much for your incredible support throughout our campaign as we continue to push the boundaries of renewable aerospace propulsion!
Prototype RF Electronics Resonance Feedback Loop Improvements:
We have ordered and received shipment of two machined brackets that will support new prototype electronics to enhance our radio frequency (RF) resonance feedback loop. Addition of a new tracking generator and network analyzer as part of our RF electronics enclosure will shorten the cycle time of our RF resonance feedback loop with goal of less than 1 second cycle time (> 1 Hz). The electronics are operational, while the brackets have passed receiving inspection and are going through fit checks for integration with our enclosure. We are planning to rebuild our RF electronics enclosure with these new parts and resume prototype thrust measurements this Q2 2021.
Financial Runway as of March 31, 2021:
We have runway in the bank through Q3 2021. Our StartEngine campaign has proved a resounding success allowing us to continue operations throughout 2020 with bright prospects in 2021. As of this March 15, 2021, the SEC has increased the campaign maximum for Reg CF from $1.07M to $5M. Stay tuned for more updates soon about our future fundraising plans!
Company Highlights for Prime Lightworks in 2020:
Selection for Forbes 30 Under 30 List in Science
Five Year Anniversary of Prime Lightworks Founded 2015
International Patent Applications Submitted and Pending
(Canada, China, European Union, India, Japan, S. Korea)
USPTO and International Patent Applications Pending:
Our patent examiner with the USPTO has reviewed our response to the initial examination report and has issued a final office action. The deadline to file a response is June 3, 2021, while extensions are available until the final deadline of September 3, 2021. We are working with our IP counsel on our response and will do everything possible to achieve patent issuance with USPTO and internationally.
Reusable Hydrogen Rocket Launch Vehicle Engine Development:
We remain hard at work developing RF resonant cavity thruster technology for CubeSat propulsion. We also recognize the longer-term nature of this endeavor, while keeping aim on generating revenue and company profitability. For these reasons, we have decided to expand our technology portfolio for renewable space propulsion to include reusable hydrogen rocket launch vehicle engine development.
Hydrogen is the most efficient rocket propellant (highest specific impulse I_sp). Hydrogen (H2) fuel and Oxygen (O2) oxidizer can also be synthesized from water (H2O) using renewable energy, and combust with zero carbon emissions. The combination of renewable hydrogen fuel production with reusable hydrogen rocket launch vehicle engine development has extraordinary potential to enable in-situ resource utilization of water as the key to expanding solar system space exploration.
Our first step on this front is to begin with a prototype rocket engine using compressed hydrogen gas. This could have extraordinary positive impact on our customer acquisition and fundraising strategies.
As always, thank you for your support and feedback. Please reach out with questions or comments—we love to hear from you!
Founder & CEO
Prime Lightworks makes breakthrough electric propulsion systems for space satellites that are solar powered, fully renewable, and consume zero fuel. Our goal is to enable interplanetary space travel — while eliminating emissions, cost and waste from aerospace propulsion.