To Our Prospective Investors,
It is an exciting time at StorEn! Last year, we completed our THIRD successful Regulation Crowdfunding campaign on StartEngine, maxing out our old StartEngine raises from hundreds of investors that share our passion for technology and the environment. Our investors contribute to companies with a higher cause.
The funds raised allowed us to hit several additional milestones, advancing our development! We were able to use these funds to design and test our cell stack technology, the heart of our flow battery system. We also brought on new engineering talent at our facility in Italy and we are working to expand our team here in the United States. I would like to thank our community for the additional support and those who invested in StorEn in our fundraising campaigns.
Following the successful independent validation of our prototype installed at the Advanced Energy Center at Stony Brook University in 2019 performed by the New York State Pollution Prevention Institute (NYSP2I) in Rochester in NYS, we commenced our early 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.
In April of this year, we were selected to build a containerized microgrid system to be demonstrated in a live network at the headquarters of Connexus Energy, located in Ramsey, Minnesota. This system involves having four of our current cell stacks working in tandem with each other and will help us understand the performance of our systems in a live environment. Our systems must operate in all types of climates and conditions. The winter conditions in Minnesota will challenge our system and will supply excellent data for our engineering teams to design an extremely reliable system.
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 CF offering.
Please help us build a successful business while sharing a superior cause: The love for our planet! Our vanadium batteries can enable the transition to electricity generated from renewable sources, like the sun and the wind, and we envision that one day our batteries will work in tandem with solar generation 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 be 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 mission.
Help us to do well while doing good! Support StorEn!
John Davis, CEO
StorEn Technologies Inc.