StorEn Technologies, Inc.

Renewable Energy Storage

StorEn Technologies, Inc.

Renewable Energy Storage

Stony Brook, NY
Clean Technology
Environment
StorEn answers the call for long-lasting, 100% recyclable, safe and affordable energy storage by developing evolutionary vanadium flow batteries. Their disruptive patent-pending all-vanadium flow battery technology for energy storage delivers the lowest cost per cycle in the world, up to eight times lower than lithium-ion batteries.

$639,207

raised
497
Investors
$40.4M
Valuation
$6.00
Price per Share
$480.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$12.4M
Offering Max
Reg A+
Offering

$639,207

raised
497
Investors
$40.4M
Valuation
$6.00
Price per Share
$480.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$12.4M
Offering Max
Reg A+
Offering

Bonus Rewards

Get rewarded for investing more into StorEn Technologies, Inc.

$480+
Investment
First Volume Tier
10% discount on the retail price of one battery*
$5,000+
Investment
Second Volume Tier
10% discount on the retail price of one battery* + 3% bonus shares
$10,000+
Investment
Third Volume Tier
10% discount on the retail price of one battery* + 6% bonus shares
$20,000+
Investment
Fourth Volume Tier
10% discount on the retail price of one battery* + 10% bonus shares

Reasons to Invest

  • Raised $ 1.7M+ from over 2,400 investors on StartEngine along with Venture Capital from ANYSEED Fund
  • 4 patents extended internationally in the PCT National Phase securing our innovative IP in all major regions and countries in the world
  • Secured first order for $500k from Australia, and the first battery was delivered to Brisbane in Q1 2020 with additional units being manufactured


The future of solar storage is here!

Overview


Bringing battery storage into the 21st century

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


Other batteries just don't get the job done

Unlike Lithium and Lead Acid Batteries, StorEn Vanadium flow batteries are:


  • Eco-Friendly: 100% recyclable, 100% reusable electrolyte, low GHGs emissions, non-pollutant, and reduce mining!
  • 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


Case Study : StorEn vs. Tesla

StorEn's Vanadium Flow Batteries


Battery Duration: 25 years or 15,000 cycles at 100% capacity

Capacity loss: None

Energy: 20 or 30kWh

Recyclability: 100% reusable 

Tesla's Lithium Powerwall™ Battery

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 greener solution that outperforms the competition

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 solar market is booming!

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


Not just an idea, we are already building the solution

  • Received first order of $500,000 from Multicom
  • First Battery already delivered  to Australia  in January 2020 
  • 4 Patents at the PCT National Phase securing our innovative IP Internationally
  • Technology Independently Validated by the New York State Pollution Prevention Institute
  • Over $2M Invested in R&D to date 
  • Over $1.7M invested from  2,400+ investors
  • Founding Team's 3rd energy start-up

Winner of numerous Technology and Innovation awards

With the partners who can make it happen

And exclusive rights to high-end supply-chain partner

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


Bringing power to the home

Our home batteries charge using electricity generated from solar panels. When the sun goes down, our batteries use the solar energy accumulated throughout the day to power the home through the evening and night. Home batteries also recharge when electricity rate are low, and use that energy later, when rates are higher. Our home battery will be cost-effective, easy to install and use and environmentally-friendly, offering households an energy addition to a solar system and the utility grid.


StorEn is a member and supports the mission of advancing zero-energy green buildings and LEED.

Beyond residential storage

 To capitalize on the offshore wind opportunity and other grid-scale applications, we conceived TITANstack™, the world’s largest Stack!

A Solution for Developing Economies

Over a billion people still do not have access to electricity. Living without electricity has a major impact on daily activities such as cooking and food preservation as well as key development indicators such as access to health, access to education and economic development. The electrification of these unserved communities can become a reality with mini grids, using solar plus energy storage. StorEn’s vanadium flow batteries can be a key technology towards universal access to affordable, longer-lasting and dependable energy. 


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


Tax credits make residential storage even more appealing

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


A passionate team, with the experience to back it up

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


A  Note from StorEn's Co-Founder

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.

In the Press

CEBIP Battery Barons Inch Toward 76West Title
July 17, 2017

A Stony Brook battery business with European roots has made the cut in a state clean-energy contest.

Governor Cuomo Announces Eight Finalists for 76West Clean Energy Competition
July 13, 2017

Finalists to Compete for Six Awards Totaling $2.5 Million.

Flood of announcements from flow battery makers
November 22, 2017

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.

Alexander update on vanadium R&D project
November 28, 2017

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.

Vanadium Flow Batteries for Cost-Effective Energy Storage: An Interview with Angelo D’Anzi, CTO of StorEn Technologies
November 21, 2017

StorEn Technology* is developing a new generation of vanadium flow batteries to meet the growing market demand for cost-effective energy storage.

Updates

Fast start! Already over $275k raised!

29 days ago

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.

We are thrilled to inform you that we have already raised over $275k with our next offering! Thank you to all of our early investors - we now have 100 investors dedicated to our exciting future.


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.

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 in an environmentally-friendly, safe and cost effective manner.


Together we can work towards our goal of making StorEn a success while accomplishing our incredible mission: the love for our planet!


This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.



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