CEBIP Battery Barons Inch Toward 76West Title
A Stony Brook battery business with European roots has made the cut in a state clean-energy contest.
Overview
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 residential and 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.
The Problem
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 thanks to our proprietary THERMASTABLE™ geothermal design, and virtually maintenance–free thanks to our proprietary RESAFE™ and EQUILEVELS™ technologies
![]() | ![]() |
StorEn's Vanadium Flow Batteries | Tesla's Lithium Powerwall™ Battery |
Battery Duration: 25 years or 15,000 cycles at 100% capacity Capacity loss: None Energy: 20 or 30kWh Recyclability: 100% reusable | Battery Duration: warranted for 10 years @ 70% of capacity Capacity loss: 30% Energy: 13.5kWh Recyclability: Low (only ~3-5% of materials) Source: KUNR, IEEE.org |
The Solution
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 batteries are modular. Our residential battery can be configured in either 20kWh or 30kWh versions sharing the same Power Module. Our customers will only pay for the energy capacity they really need! Additional modules can be connected together for maximum flexibility!
The Market
The trend for wind energy in the US is as bullish as residential solar. According to the American Wind Energy Association (AWEA), the American coast line could house 2,000 gigawatts of off-shore wind, or nearly twice the nation’s current electricity demand. 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!
Our Traction
Winner of numerous Technology and Innovation awards
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 fulfil 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
In March 2018, the Internal Revenue Service (IRS) determined that residential energy storage batteries are eligible for up to 26% Federal Investment Tax Credit when charged from an onsite solar system. The value of the credit depends on the percentage of electricity coming from the sun. If the battery is charged by solar panels 90% of the time, then the battery is eligible for 90% of the 26% ITC, or a 23.4% credit.
In addition to the federal Investment Tax Credit, additional State credits may reduce the cost of an energy storage system. Although energy storage is a relatively young industry, a growing number of states and municipalities will support the installations 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 $5,000 for residential systems and up to $75,000 for commercial systems. While in California, a cash rebate is available through the Self-Generation Incentive Program (SGIP).
OUR LEADERSHIP
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.
Entrepreneurship
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.
Why Invest
To Our Prospective Investors,
It is an exciting time at StorEn! Last year, we completed our second successful Regulation Crowdfunding campaign on StartEngine, raising the maximum of $1,07M from hundreds of investors that share our passion for technology and the environment and are willing to contribute to higher causes.
The funds raised allowed us to hit several additional milestones, advancing our development! Therefore, I would first like to thank our community for the additional support and those who invested in StorEn in our first campaign in 2018.
Following the successful independent validation of our prototype installed at the Advanced Energy Center at Stony Brook University in 2019 performed by the the New York State Pollution Prevention Institute (NYSP2I) in Rochester in NYS, we commenced our 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.
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 A+ offering.
Please help us build a successful business while sharing a superior cause: the love for our planet! Strong with the belief that our vanadium batteries can enable the transition to electricity generated from renewable sources, like the sun and the wind, we envision that one day our batteries will power your home coupled to solar panels 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 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 missions.
Help us to do well while doing good! Support StorEn!
Sincerely yours,
Carlo Brovero
Co-Founder and CEO
StorEn Technologies Inc.
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.
THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT CAN BE FOUND HERE.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
A Stony Brook battery business with European roots has made the cut in a state clean-energy contest.
Finalists to Compete for Six Awards Totaling $2.5 Million.
Also in the past few days, a US energy storage start-up, StorEn, which is developing vanadium flow energy storage systems, announced it had brokered a supply chain deal with an Australian mining company, Multicom Resources.
Multicom had entered into a binding agreement with New York-based technology developer StorEn Technologies Inc to form a vertically integrated supply chain model for the low-cost manufacturing, sale and distribution of StorEn proprietary vanadium flow batteries.
StorEn Technology* is developing a new generation of vanadium flow batteries to meet the growing market demand for cost-effective energy storage.
Hello,
I'm John Davis, CEO of StorEn Technologies.
I want to take a moment of your time to introduce myself, give you some insight into our progress, and share our exciting plans to grow our company.
First, let me explain the events of the last few weeks. On April 20th our co-founder and CEO Carlo Brovero passed away unexpectedly after a brief illness. This was a shock to all of us at StorEn Tech and our thoughts continue to go out to his family and friends. Carlo was passionate about StorEn Technologies and he motivated us every day to push as hard as possible to meet our aggressive goals.
On April 26th, I was appointed the CEO of StorEn Technologies by the Board of Directors. It is an honor to begin my journey, and we will continue to keep Carlo’s vision of building a progressive and world-class energy storage technology company. In the next few months, we will be in a transition period that includes hiring new employees, closing new business opportunities, moving into a new facility, and transitioning from the prototype stage with our systems to installing the first field deployments.
I can assure you that our plan is aggressive and will require bringing on many new and talented individuals to accomplish these goals. We have begun the process of adding senior engineers and scientists to our team and I will be sharing more information about our new employees as they’re hired. We are well-positioned to grow StorEn Technologies into a global supplier of vanadium flow batteries.
Our timing is excellent, considering the global energy situation, and our expansion plans will require additional capital. We will be launching our next round of fundraising on Start Engine and we encourage you to continue to participate in these fundraising events.
With all that said, I want to personally thank you for your support. I look forward to sharing more about our progress in the coming weeks.
Best regards,
John Davis
On April 20, 2022, our team experienced a tragic loss when Carlo Brovero passed away after an unexpectedly severe complication from a recent illness. The entire StorEn family mourns this loss. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Carlo’s family. Carlo was a larger-than-life figure who brought his remarkable passion, experience and energy to the Clean Energy industry.
Angelo D’Anzi, Co-Founder and CTO of StorEn, issued the following statement on behalf of the company:
“With the passing of Carlo Brovero, StorEn has suffered a major loss. Notwithstanding that loss, the Board of Directors has appointed John Davis as CEO. For the past year, John has worked as Director of Business Development for StorEn and supported Carlo in the day to day activities of the company. John has over 35 years experience working in technology business development and has worked for over 20 years in the energy storage industry. We are confident that John will follow through with Carlo’s vision and the progress he has made. We will continue to consider how best to maximize StorEn’s performance over the long term.”
StorEn was recently listed as one of the 50 Most Innovative New York Based Energy Management Companies & Startups in
Futurology and StorEn's battery was also mentioned in The Graphene Council.
Only two days are left to invest in our campaign. Invest today!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond the Termination Date, in its sole discretion. Link to Supplement
“University of Calgary researchers have found that one small change can make a big difference – particularly when it comes to electricity grid storage capacity.
Dr. Edward (Ted) Roberts, PhD, has been investigating battery storage options and was looking to increase the lifetime of a special kind of battery: a redox flow battery.
The Schulich School of Engineering professor and associate head (research) in the Department of Chemical and Petroleum Engineering hoped to modify the battery membrane with graphene, which is a unique carbon material measuring only one atom”.
We are proud the Professor Roberts chose a battery sold by StorEn for his research.
Please vision the full article: https://www.thegraphenecouncil.org/blogpost/1501180/385204/Schulich-researchers-discover-surprise-ingredient-for-improved-electricity-grid-capacity
Our offer closes on December 30th, 2021 so submit any final investments, tell your friends, promptly!
With the help of all our shareholders, we are striving to make StorEn a success!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
We’ve just filed a supplement with the SEC officially announcing the closing date of our current Reg A+ offering. Don’t miss the opportunity to become an investor in StorEn!
Over 5,300 investors have joined StorEn in answering the call for long-lasting, 100% recyclable, safe and affordable energy storage.
With the help of all our shareholders, we continue to strive to make StorEn a success!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond the Termination Date, in its sole discretion. Link to Supplement
We’ve just filed a supplement with the SEC officially announcing the closing date of our current Reg A+ offering. Don’t miss the opportunity to become an investor in StorEn!
Over 5,300 investors have joined StorEn in answering the call for long-lasting, 100% recyclable, safe and affordable energy storage.
With the help of all our shareholders, we continue to strive to make StorEn a success!
You should read the Offering Circular (link) and Risks (link) related to this offering before investing. This Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA (link)/SIPC (link). This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
StorEn Technologies Inc., a Client of the Clean Energy Business Incubator Program (CEBIP) at Stony Brook University, is pleased to announce that it has entered into an Invest-NY R&D project with the Cornell Center for Materials Research (CCMR). The project will allow StorEn to work with Yong Joo, Professor of Chemical and Biomolecular Engineering, on the development of a novel technology leading to scale-up and manufacturing. The Invest-NY program provides industry with a fast, flexible, and cost-effective way to work with Cornell faculty members. The program provides up to 25% matching funds to NYS businesses.
This CCMR project will produce innovative components for StorEn, namely membranes and electrodes with a proprietary coating and surface treatment. This project has the potential to deliver superior electrical performance and durability of StorEn's flow batteries.
Funding for this program is made possible through a matching grant from Empire State Development’s Division of Science, Technology and Innovation (NYSTAR), supporting collaborative industry/academic partnerships to foster integrated approaches for developing and commercializing innovative technologies. NYSTAR serves as a resource for small and startup technology companies. For more information, please visit www.esd.ny.gov/nystar/
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Shay Chalmers is a keynote speaker and engineering management professional with years of global experience in the manufacturing environment. She holds a Bachelor’s and Master’s Degree in Engineering Management, and has held leadership roles in a steel mill in the USA, and with Cook Medical in production, process engineering and project management.
Shay has been working with StorEn’s Australian partner Multicom Resources and a global team on the completion of a feasibility study for the construction of a StorEn manufacturing plant in Australia and the establishment of local manufacturing supply chains for the innovative vanadium batteries designed by StorEn.
Shay commented on the reason behind their decision to convert “We have entered a new era for Australia’s developing battery storage industry, thanks to an exciting collaboration and project I’m involved in. Led by Future Battery Industries CRC, with QUT, research partners, state and federal government, the project allows researchers to test and develop safety standards for vanadium flow batteries. This is being conducted at Freedom’s Vanadium Flow Battery Pilot Manufacturing plant (the National Battery Testing Centre)”. The 30kWhr battery was provided by Multicom Resources Limited in partnership with StorEn Technologies, the manufacturer.
Shay continued, “A switch to vanadium batteries and other renewables could save the Australian industry over $1.6 billion a year … we are excited to see the opportunities this project will bring to our local manufacturing community. Cutting-edge technology developments such as this highlight the benefits of university and industry collaboration. We can leverage this opportunity to create strong local supply chains through the manufacture of future energy components. With the strong government support, now is the time to collaborate and get these types of projects across the line”.
Please vision the full article: https://www.aumanufacturing.com.au/vanadium-flow-battery-pilot-opens-doors-for-manufacturers-by-shay-chalmers
With the help of all our shareholders, we are striving to make StorEn a success!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Over three years ago, in March of 2019, we raised funds from ANYSEED and issued them a Convertible Note after receiving the financing. In June 2021, ANYSEED converted their Note into equity and became a shareholder in StorEn!
Noel Goddard, Principal for the Accelerate NY Seed Fund commented on the reason behind their decision to convert “In March of 2019, ANYSEED invested in StorEn and its team. StorEn has key innovations to transform the technology from grid scale applications into compact residential and small-industrial scale storage solutions. Vanadium redox offers a number of significant advantages over its lithium counterparts. StorEn can now manufacture their batteries, and they have a unit in an active pilot”.
Goddard continued, “We are delighted to witness their impressive progress in bringing manufacturing and a pilot installation online, despite the pandemic. The Accelerate NY Seed Fund has become a proud shareholder upon the recent conversion of the investment.”
Please vision our press release: https://www.prunderground.com/vanadium-flow-battery-manufacturer-storentech-has-new-shareholder/00240695/
With the help of all our shareholders, like ANYSEED, we are striving to make StorEn a success!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
The Scientific and Technical Advisory Panel (STAP) is an independent group of scientists that advises the Global Environment Facility (GEF). The GEF “was established on the eve of the 1992 Rio Earth Summit to help tackle our planet’s most pressing environmental problems. Since then, the GEF has provided close to $20.5 billion in grants and mobilized an additional $112 billion in co-financing for more than 4,800 projects in 170 countries. Through its Small Grants Programme, the GEF has provided support to nearly 24,000 civil society and community initiatives in 133 countries”.
The United Nations Environment Programme (UNEP) and GEF have been cooperating since 1992 to counteract the planet’s urgent environmental challenges. This work materialized in over 1000 projects, inspiring, informing, and guiding public policy making in more than 160 countries to improve their quality of life and sustainability for our future generations.
The report, titled “Technology Critic Elements and their relevance to the Global Environment Facility”, analyzes and issues recommendation concerning the sustainability of the supply chain of Technology Critic Elements, from “green mining” to end-of life-processing and recycling. Technology Critic Elements (TECs) are metals critical in the development of new technologies, such as energy storage, electronic devices, etc.
StorEn’s residential 5kW/30kWh vanadium flow battery is featured in the image on page 24.
Please download the report here:
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
{{ profileCtrl.commentsLoading ? 'Loading...' : 'Show More Comments' }}