Small Satellite Conference 2019 Proceedings
Measurement Error Analysis of Impulsive Thrust from a Closed Radio-Frequency Cavity in Vacuum
Prime Lightworks
Renewable Electric Propulsion
Torrance, CA
Electronics
Engineering
Prime Lightworks is making a fully electric spacecraft propulsion system that does not need conventional mass propellant (fuel). We believe our system will provide a revolutionary step forward in space exploration and planetary science, eliminating the need for fuel propulsion systems using renewable solar energy.
$1,059,087
raised
1,824
Investors
$10.2M
Valuation
$2.06
Price per Share
$199.82
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left
This offering ended on April 24, 2021 and is no longer accepting investments.
Reasons to Invest
$1.8M seed funding raised from Y Combinator and angel investors
Founder & CEO Kyle Flanagan named to Forbes 30 Under 30 Class of 2020 in Science
Patent pending with US and PCT for our proprietary electromagnetic thruster technology
Photo from NASA. Our product is currently still in prototype stage.
Investigating zero-fuel microwave space propulsion
"When I read that NASA was testing a microwave space propulsion system that would require no fuel, I founded Prime Lightworks to investigate and commercialize this breakthrough technology. We now have patent pending and a functional prototype in vacuum testing, and we are raising our next round of funding to continue our proof-of-concept prototype vacuum tests and launch our space demonstration mission."
Current propulsion systems lead to massive amounts of emissions, cost and waste!
Satellite technologies have numerous global applications: telecommunications, GPS, intelligence, and Earth imaging for weather and climate analysis. However, many current satellite propulsion systems use toxic fuel that costs up to $50K per kg to launch into orbit and creates waste in the form of space debris. We believe our product will solve the problem of space propulsion for satellites and spacecraft, using a solar-powered radio amplifier and microwave cavity to replace fuel-based propulsion systems.
Photo from NASA. Our product is currently still in prototype stage.
This technology could eliminate spacecraft fuel entirely
Prime Lightworks is developing renewable CubeSat electric propulsion systems which, if proven feasible, could increase spacecraft lifespan and reliability, eliminate spacecraft fuel emissions, and drastically reduce launch vehicle size and fuel emissions. Our RF-based propulsion system is patent-pending, and if we succeed in our prototype test campaign with thrust measurements in a vacuum, this could scale to support all satellite mission architectures.
Prime Lightworks solution could offer:
- 20-50% mass savings (compared to fuel propulsion)
- Fully renewable solar energy (instead of fuel)
- Eliminating the need for toxic fuel and waste
Satellite propulsion systems are a $1B per year industry
Our potential customers are satellite manufacturers who purchase high delta-velocity (delta-v) propulsion systems for mission integration
Hardware manufacturing of satellites is over $15B per year market
Global satellite industry is over $260B per year market
Satellite manufacturers are expected to purchase $630M of propulsion systems per year by 2024
We’ve raised $1.8M+ in seed funding from Y Combinator and our Angel Investors
We've filed our US and PCT patent applications for electromagnetic thrusters on February 8, 2019
We're operating 2,200 square foot facility in Torrance, CA + Greentown Labs prototyping space
- We’ve begun proof-of-concept vacuum testing our prototype CubeSat electric propulsion system
We could revolutionize the aerospace industry
We’re trying something new. Our electric propulsion systems would work by concentrating electromagnetic field strength and radiation pressure on the large end surface of our radio frequency (RF) cavity resonator. We need your support to continue our vacuum testing and produce thrust measurements proving feasibility of our fully renewable, zero fuel, spacecraft electric propulsion.
Prototype CubeSat Electric Propulsion System:
- RF Power Enclosure (6U, 50W, X-Band, 8-11GHz)
- RF Cavity Resonator (1U, 8.5GHz, -28dB S11, 7e4 Q-Factor)
Our ideal customers are satellite manufacturers purchasing high delta-v propulsion systems
We will offer direct contract sales of patent-pending RF resonant cavity propulsion systems and power electronics hardware. We need your investment to continue our proof-of-concept prototype vacuum tests. Our goal is to prove that space propulsion can be done using RF electronics hardware that is more renewable and cost-effective than chemical rockets or existing electric propulsion. Use of RF architecture for propulsion applications has enormous potential to support growth opportunities in RF telecommunications markets based on small satellite orbital constellations.
We could be the most renewable propulsion technology
While other space propulsion technologies consume fuel, ours uses renewable solar power. With zero fuel, we aim to provide a lighter and more reliable propulsion system that is less expensive to manufacture and launch, with renewable delta-velocity (delta-v) for unlimited orbital maneuvering.
Let’s eliminate fuel emissions from space propulsion
Prime Lightworks aims to reduce aerospace industry fuel emissions by eliminating satellite fuel mass and reducing launch vehicle fuel consumption.
We believe in a sustainable future where air and space transportation are fully renewable with zero carbon footprint.
Photo from NASA. Our product is currently still in prototype stage.
Two former SpaceX engineers make this moonshot, not such a longshot
Our Founder & CEO, Kyle Flanagan, has eons of experience from Harvard, CERN, Caltech/JPL, and SpaceX, having been entrenched in this world for years. He started engineering at SpaceX when RF designer, Peter Dohm, was moving beyond SpaceX to Millennium Space Systems. Along with other team members, their shared knowledge and experience is vast and their vision is uncompromising. This undertaking is the natural next step for them.
#forbes #30under30 #science
#renewable #solar #newspace
#primelightworks
Join us as we launch into the future of space
It’s our mission to eliminate wasteful and toxic fuel from the space industry, with renewable propulsion that enables interplanetary space exploration. We’re launching into a growing electric propulsion market with a product that could open up the cosmos while protecting our environment. Join us!
This data is publicly available pursuant to 15 C.F.R. §734.7(a)(4) and is therefore not subject to the U.S. Export Administration Regulations.
Photo from NASA. Our product is currently still in prototype stage.
In the Press
Cleantech Open West Announces Finalists
Emerging Technology: Prime Lightworks Inc. makes breakthrough electric propulsion systems for space satellites, with the goal to eliminate fuel emissions from aerospace propulsion, while drastically reducing cost and waste.
Offering Summary
Company | : | Prime Lightworks Inc. |
Corporate Address | : | 2909 Oregon Ct Ste C12, Torrance, CA 90503 |
Offering Minimum | : | $9,999.24 |
Offering Maximum | : | $1,069,999.02 |
Minimum Investment Amount(per investor) | : | $199.82 |
Terms
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 4,854 |
Maximum Number of Shares Offered | : | 519,417 |
Price per Share | : | $2.06 |
Pre-Money Valuation | : | $10,192,847.04 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Perks* and Investment Bonuses
Early Bird
First 48 hours - Friends and Family Early Birds | 10% bonus shares
Next 5 days - Early Bird Bonus | 5% bonus shares
Volume
$500+ (Tier 1 perk) | Stickers w/ Company Logo
$1,000 (Tier 2 perk) | T-Shirt w/ Company Logo
$2,500+ (Tier 3 perk) | USB Drive w/ Company Logo
$5,000+ (5% bonus shares) | Name Etched on Prototype
$20,000+ (10% bonus shares) | Visit to HQ in Torrance, CA
*All perks offcur after the offering is completed
The 10% Bonus for StartEngine Shareholders
Prime Lightworks Inc. 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 $2.06 per share, you will receive 110 Common Stock shares, meaning you'll own 110 shares for $206. 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: Salary payments made to one’s self, a friend or relative. Any expense labeled “Travel and Entertainment”. Inter company debt or back payments. Any expense labeled “Administrative Expenses” not strictly for administrative purposes. Vendor payments.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$223,297.00
USD
$365,149.00
USD
Cash And Cash Equivalents
$5,375.00
USD
$87,018.00
USD
Accounts Receivable
$0.00
USD
$0.00
USD
Short Term Debt
$68,662.00
USD
$28,267.00
USD
Long Term Debt
$1,838,549.00
USD
$1,513,549.00
USD
Revenues And Sales
$0.00
USD
$0.00
USD
Costs Of Goods Sold
$0.00
USD
$0.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$515,538.00
USD
-$590,786.00
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
Rewards Perks Shipped & Upcoming Prototype Strategy from Prime Lightworks
7 months agoDear Investors of Prime Lightworks,
Rewards Perks Investment Bonuses:
We are excited to announce that we have shipped out the bulk of our campaign rewards over the past few weeks. Stickers (>$500 investment) went out in envelopes with Breast Cancer Research Stamps, to help raise funds for breast cancer research. T-shirts (>$1,000 investment) went out in 13 x 10 inch black poly mailers with labels for USPS First-Class Packages. USB drives (>$2,500 investment) were included in the appropriate T-shirt packages according to investment amount.
We will reach out directly (>$5,000 investors) to confirm spelling for Name Etched on Prototype. We will also reach out directly (>$20,000 investors) to make arrangements for Tour of HQ at Greentown Labs in Somerville, Massachusetts. There remain a handful of investors who have not yet received their T-shirt rewards, either because of an address issue or we do not have your shirt size. We will also reach out to these investors directly to ensure everyone receives their rewards.
Financial Reporting Regulatory Compliance:
Our company has completed preparation of CPA Financial Review for 2019 & 2020 and amendment for Form C-AR (Annual Report) for 2020, which we have filed with SEC for compliance with Reg CF requirements. Detailed summary of our use of campaign funds is available in this amendment. Our Form C-AR 2020 Amendment is available here:
https://www.sec.gov/edgar/browse/?CIK=1681290
Green Hydrogen Rocket Prototype Development:
We are thrilled to be moving into the next phase of our prototype development strategy to develop reusable hydrogen rocket engine technology. While we have already ordered and received many of the parts for the prototype rocket engine manifold, we are now ready to move forward with final design review and machining purchase order of our rocket engine combustion chamber. We are also reviewing component specifications in preparation for purchase orders for H2/O2 propellant tanks and pressure regulators. Our avionics design is underway to include battery electrical power storage, computer controls, power distribution and instrumentation, to be developed and assembled in tandem with our mechanical chassis and propulsion subsystems. We have also prepared an application to Midcoast Regional Redevelopment Authority (MRRA) to lease space at Brunswick Landing, where we aim to static fire test our hydrogen rocket engines at the former Brunswick Naval Air Station.
This is an exciting time for our company as we take our next step in pushing the limits of renewable aerospace propulsion. Thanks again for all your support! Stay tuned for more updates coming soon!
Kyle Flanagan
Founder & CEO
Prime Lightworks
Prime Lightworks makes breakthrough propulsion systems for space satellites and launch vehicles that are solar powered, fully renewable, and produce zero carbon fuel emissions. Our goal is to enable interplanetary space travel — while eliminating cost and waste from aerospace propulsion.
Business Relocation Q3 2021 Update from Prime Lightworks
9 months agoDear Investors of Prime Lightworks,
Thank you very much for your patience with our team this summer as we have been navigating a cross-country move and preparing to expand our business model to include another exciting clean space propulsion technology!
Relocated Company to Greentown Labs Clean Technology Incubator in Somerville, MA:
After over 5 years since founding Prime Lightworks in California, it was difficult to leave behind Los Angeles to rebuild our company on the East Coast. Ultimately, we made this decision because of the extraordinary opportunities available to us at Greentown Labs in Somerville, MA (just over 1 mile down the street from Harvard Physics, my alma mater) as well as exciting developments now turning the State of Maine into a viable spaceport location (my back yard growing up). We are now in the process of unpacking our equipment and outfitting our new lab space at Greentown Labs.
Regulatory Compliance, CPA Financial Review, Form C-AR (Annual Report):
Lately, we have been focused on financial and legal reporting necessary to keep our Regulation Crowdfunding campaign in full compliance. We recently finished a comprehensive two-year CPA Financial Review for 2019 and 2020. We are also preparing an updated amendment to our Form C-AR (Annual Report) for 2020 which will include the CPA Financial Review. These documents will be available for your review once filed and we will provide you with an update link when ready.
Patent Continuation Application Filed on September 3, 2021:
With regard to our patent application, our patent examiner has raised concern about the operability of our electric propulsion technology. On September 3, 2021, we filed a continuation application, providing us more time to prepare our test data and response to the patent examiner. Our long-term goal here remains to build and test superconducting prototype RF resonant cavity thruster in order to investigate comprehensively the potential of this in-space electric propulsion technology.
Facilities Preparations for Prototype Rocket Engine Design, Manufacturing, Testing:
Over the next few months, as our financial and legal reporting is property filed, we will be in design and manufacturing of reusable hydrogen rocket engine prototype technology. Our plan is to build our initial prototype at Greentown Labs while we prepare partnership for rocket testing facilities at one of the Maine Air Force Bases now being used for aerospace technology development.
$20,000+ Investment Visit to HQ in Somerville, MA:
For our investors who have exceeded the threshold for “Visit to HQ”, please note that we will keep our commitment to host your visit to our facilities at Greentown Labs in Somerville, Massachusetts, in accordance with Greentown Labs Visitor Policies and CDC Guidelines. We will be in touch with each of you individually about scheduling your tour later this year.
We will provide another update soon once we file our amended Form C-AR with Financial Review. Stay tuned for more updates this fall about progress with our clean space propulsion prototyping!
Best regards,
Kyle Flanagan
Founder & CEO
Prime Lightworks
Prime Lightworks makes breakthrough propulsion systems for space satellites and launch vehicles that are solar powered, fully renewable, and produce zero carbon fuel emissions. Our goal is to enable interplanetary space travel — while eliminating cost and waste from aerospace propulsion.
Campaign Closing! $1.07M April 2021 Update from Prime Lightworks
about 1 year agoDear Investors of Prime Lightworks,
Today is closing day for this our first Regulation Crowdfunding (Reg CF) campaign on StartEngine. Thank you so much to all our investors for your incredible support as we reached our maximum!
***REWARDS PERKS $500+ INVESTMENTS***
Please check your email for a webform link to confirm your mailing address for your rewards perks.
This is an exciting time for new space and clean technology. Stay tuned as we continue to develop our electric propulsion systems and expand to include reusable hydrogen rocket propulsion systems.
With your help, we are building a future where going to space will make the Earth a better place.
Best regards,
Kyle Flanagan
Founder & CEO
Prime Lightworks
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.
Notice of Funds Disbursement
about 1 year ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Prime Lightworks 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 Prime Lightworks 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
Campaign Maximum! $1.07M March 2021 Update from Prime Lightworks
about 1 year agoDear 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!
Best regards,
Kyle Flanagan
Founder & CEO
Prime Lightworks
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.
Notice of Funds Disbursement
over 1 year ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Prime Lightworks 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 Prime Lightworks 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
$750K February 2021 Update from Prime Lightworks
over 1 year agoDear Investors of Prime Lightworks,
I am pleased to report we are building up excellent momentum fundraising through the first month of 2021. With your incredible support, in the last two weeks of January we have raised another $100K to bring our total over $750K fundraising on StartEngine!
We are making substantial progress with prototype hardware development on our way to resuming test measurements in vacuum of our RF resonant cavity thruster prototype this Q1 2021. We have completed design review of two new brackets to mount updated RF electronics, including tracking generator and signal analyzer, which will enable improved resonant frequency analysis during testing. Our next step is to machine these new brackets and integrate them with our prototype RF electronics.
Stay tuned for more updates this quarter about progress with our prototype hardware development and patent pending with the USPTO! Please share our campaign with your network and consider reinvesting as we approach our goal of $1.07M Regulation Crowdfunding!
Best regards,
Kyle Flanagan
Founder & CEO
Prime Lightworks
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.
Notice of Funds Disbursement
over 1 year ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Prime Lightworks 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 Prime Lightworks 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
Notice of Material Change in Offering
over 1 year ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Prime Lightworks offering. Here's an excerpt describing the specifics of the change:
Prime Lightworks Inc. is extending their campaign by 90 days.
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.
$650K January 2021 Update from Prime Lightworks
over 1 year agoDear Investors of Prime Lightworks,
I am excited to announce that our Regulation Crowdfunding (Reg CF) campaign is off to an excellent start in 2021! Since we exceeded $500K fundraising on StartEngine in 2020, over the first two weeks of January we have raised over $100K more to bring our total over $650K fundraising on StartEngine!
Thank you all so much for all your support. Your investments allowed us to navigate 2020, and put us in excellent position with potential to enable prototype testing and achieve patent issuance in 2021. Please share our campaign with your network and consider reinvesting as we approach our goal of $1.07M Regulation Crowdfunding!
Best regards,
Kyle Flanagan
Founder & CEO
Prime Lightworks
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.
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