Blumenthal & Ganim Honor Michael Licamele
November 5, 2016
Senator Richard Blumenthal (D-CT) honored Sun Fund's president, Michal Licamele, for his work in renewable energy and affordable housing.
Sun Fund
Solar Energy – Vertically Integrated
Regulation Crowdfunding
Milford, CT
Technology
Accepting International Investment
Pre-ICO Open to All Investors
Get Stock Plus Cryptocurrency SAFT
Your $100 investment = 10 shares + the SAFT
Sun Fund is a vertically integrated renewable energy company that develops and owns profitable solar projects. Our projects generate predictable, long-term cash flows. We target an annual 6% dividend on our preferred shares.
All investors participating in this offer receive both preferred equity shares and an additional Simple Agreement for Future Tokens (SAFT).
Sun Fund is a real-world company building revenue generating renewable energy assets that is also developing an Ethereum-based blockchain currency platform. With the ability to implement smart contracts on a distributed ledger, the Sun Fund token will bring liquidity and a store of value for renewable energy assets while also helping to disintermediate global financial and energy markets.
As far as we know, we are more profitable than other renewable energy companies because we focus on the small and medium-scale commercial and industrial solar markets that have better margins and incentives. For example, larger solar companies will construct a 20 megawatt solar plant and only get paid five or six cents per kilowatt of electricity generated. Our projects are much smaller, but generate anywhere from 14 to 25 cents per kilowatt.
We have a pipeline of over 55 megawatts of projects so we plan to put your investment dollars to work generating revenue right away.
Sun Fund is also bringing renewable energy to Bitcoin and other coin mining operations to help make coin mining environmentally sustainable.
Before crowdfunding, companies like Sun Fund could only work with private investors. Now these investments are available to everyone.
We are inspired by the Toms Shoes One-to-One model but we are taking that further with our 250 to 1 model. We will bring electricity to 250 families in the developing world who currently do not have electricity for every one megawatt of solar that we install in the United States.
Investment
$10/share of Series Seed Preferred Stock plus an additional SAFT (Simple Agreement for Future Tokens) for utility tokens issued by the company at the price sold in our anticipated ICO (Initial Coin Offering).
When you invest you are betting the company’s future value will exceed $51.07 million.
Future Utility Tokens
In connection with the purchase of the shares, Purchasers shall receive from the Company, if and when the Company has a future token generation event:
- Investors will receive a number of tokens equal to the value of the investment amount. These tokens are separate from and in addition to the Series Seed Preferred Stock that the purchaser will own in addition to the tokens. For example, an investment of $1,000 will entitle the investor to both their original $1,000 in Series Seed Preferred Stock and an additional $1,000 worth of tokens in accordance with the terms of the future token generation event.
The tokens will vest and be delivered approximately 120 days after the official launch of the token generation event. The Company currently does not have a distributed ledger based business model nor a blockchain based utility token and there is no guarantee that such will be developed in the future. The promise of future tokens is contingent upon the successful development of such items. There is no guarantee that successful development will ever occur. The right to receive future tokens and the offering of future tokens is being offered as part of this offering exempt from registration under Regulation CF.
Description of Future Utility Tokens. The Company is including as part of this Offering the right to receive future utility tokens when and if the Company creates a business model and network based upon blockchain and distributed ledger technology. The utility tokens may be used within the network to purchase coin cloud mining contracts as well as energy credits or kilowatts produced by projects owned by the Company. The tokens may also be exchangeable upon crypto exchanges. The Company does not have expertise in this area and has no immediate plans to create a distributed ledger technology offering. Therefore, the rights offered and issued in connection with this offering are contingent upon the development of such technology. Investors in this offering should not plan on receiving such tokens and should not include any such future utility tokens as part of their investment decision. Any future utility token shall only have a use within a developed ecosystem and shall not be considered debt or equity in the Company.
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We are Sun Fund. Welcome to Solar 2.0.
Our Accomplishments
The Sun Fund management team has successfully developed over $70 million worth of projects since entering the solar sector in 2014. They have a proven track record in project development, financing, engineering, procurement and construction of solar projects.
Our experienced team leaders remain committed to promoting Sun Fund’s vision – the rapid deployment of solar energy in the United States and a strong commitment to helping families in the developing world gain access to clean, renewable energy.
Why Invest in Sun Fund? We Offer Socially Responsible Investing (SRI) with Robust Annual Dividend Payments
- Sun Fund builds and owns solar projects using proven technology and keeps giving back to investors and the world.
- Your investment in Sun Fund offers stable annual returns and is low risk.
- Our experienced team has succeeded with a solar investment model that works for the investor.
- Your investment in Sun Fund earns income primarily from long-term contracts with very stable electric utility companies.
- Our experienced team leaders remain committed to promoting Sun Fund’s vision – the rapid deployment of solar energy in the United States and a strong commitment to helping families in the developing world gain access to clean, renewable energy.
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Sun Fund targets the most profitable segments of the American solar market
Check out some projects the Sun Fund team has built...
Join the new American energy revolution!
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We believe Sun Fund is positioned better than competitors to succeed in our target market segments.
We built a proven solar business model that is Solar 2.0. Our team’s efficiency has a track record of success in solar development, finance, project management and the operation of solar assets.
In the NorthEast region, Sun Fund invests in community solar and small utility-scale solar projects, as well as solar for affordable housing, commercial and industrial properties. These market segments are the most profitable areas of solar investment.
Focus on Industrial Solar Projects
Efficient Engineering
Solar Installation Expertise
Affordable Housing Experience
Sun Fund originates, develops, finances, builds, operates and owns solar projects in US markets. Your investment in Sun Fund is an investment in stable annual returns and lower risk. Sun Fund builds and operates solar projects using proven technologies.
Investing in Sun Fund is the smart choice for your renewable investment dollar. Our experienced management team is executing a proven business model centered on building renewable energy assets with long-term power purchase agreements. We internalize solar tax credits and depreciation, which reduces our corporate tax liabilities and supports higher dividend payments for investors.
The Sun Fund team has over 55 megawatts of solar projects currently under development, with 1.5 megawatts of projects coming online in 2017, Sun Fund is positioned to quickly scale up and build market share while maintaining high net operating income through a vertically-integrated business model.
Why Sun Fund's Model is Best in Class
- We are vertically integrated, which improves profitability.
- We originate our own projects, which reduces costs.
- We have expertise in solar finance and tax equity structuring.
- We are experts in solar debt financing.
- Our project managers are highly efficient.
- Our solar portfolio will grow each year - and that means value creation for investors.
- Future upside from planned IPO.
- Crowdfunding will drive Fintech value.
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Focusing on the most profitable segments of the American solar market.
As the US solar market continues to grow, Sun Fund’s investors will benefit from lowering costs for projects and increasing demand for electricity. Your Sun Fund investment will be deployed into projects mainly in the Northeastern United States where electricity costs are higher. That means better returns for Sun Fund investors. In the Northeast region, Sun Fund invests in community solar and small utility-scale solar projects, as well as solar for affordable housing, commercial and industrial properties. These market segments are the most profitable areas of solar investment.
Vertical Integration & Profitable Market Segments
Sun Fund is aggressively efficient, finding savings in all phases of the project and throughout the entire solar project life cycle. We’ve proven our business model and management team in millions in projects already. We have 55 megawatts of projects ready to build with your investment, in the most profitable solar markets in the country. And we internalize solar tax credits and depreciation, which shields corporate net income and supports higher dividend payments.
Earn 6% - Fight Climate Change - Bring Solar to People in Need
Your investment in Sun Fund will provide you with an attractive and stable dividend while you help America and the world fight climate change.
We are inspired by the Toms Shoes One-to-One model but we are looking to take that further with our 250 to 1 model. We will bring electricity to 250 families in the developing world who currently do not have electricity for every one megawatt of solar that we install in the United States.
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Best In Class Vertical Integration Model
In the Press
Benefitting from Higher Energy Costs
May 15, 2015
Profile of a 600 kilowatt installation by the Sun Fund team.
Upping the Wattage
May 7, 2017
Article quoting founder Michael Licamele whose team is one of four bidders offering to bring community solar power to Connecticut through a Shared Clean Energy Pilot Program.
Offering Summary
Maximum 107,000 shares of series seed preferred stock & SAFT ($1,070,000)
Minimum 1,000 shares of series seed preferred stock & SAFT ($10,000)
| Company | Sun Fund Renewables, Inc. |
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| Corporate Address | 185 Plains Road, Suite 100E, Milford, CT 06461 |
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| Description of Business | Sun Fund develops, constructs, owns and operates solar power systems. |
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| Type of Security Offered | Series Seed Preferred Stock (convertible to common with cumulative 6% preferred return) & Simple Agreement for Future Tokens (SAFT) |
| | |
| Purchase Price of Security Offered | $10 per share (and equal value of future utility tokens) |
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| Minimum Investment Amount (per investor) | $100 |
Future Utility Tokens
In connection with the purchase of the shares, Purchasers shall receive from the Company, if and when the Company has a future token generation event:
- Investors will receive a number of tokens equal to the value of the investment amount. For example, an investment of $1,000 will entitle the investor to $1,000 worth of tokens in accordance with the terms of the future token generation event.
The tokens will vest and be delivered approximately 120 days after the official launch of the token generation event. The Company currently does not have a distributed ledger based business model nor a blockchain based utility token and there is no guarantee that such will be developed in the future. The promise of future tokens is contingent upon the successful development of such items. There is no guarantee that successful development will ever occur.
The right to receive future tokens and the offering of future tokens is being offered as part of this offering exempt from registration under Regulation CF.
Description of Future Utility Tokens. The Company is including as part of this Offering the right to receive future utility tokens when and if the Company creates a business model and network based upon blockchain and distributed ledger technology. The utility tokens may be used within the network to purchase energy credits and kilowatts produced by projects owned by the Company. The tokens may also be exchangeable upon crypto exchanges. The Company does not have expertise in this area and has no immediate plans to create a distributed ledger technology offering. Therefore, the rights offered and issued in connection with this offering are contingent upon the development of such technology. Investors in this offering should not plan on receiving such tokens and should not include any such future utility tokens as part of their investment decision. Any future utility token shall only have a use within a developed ecosystem and shall not be considered debt or equity in the Company.
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: Vendor payments made to companies affiliates of issuer; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$104.00
USD
$0.00
USD
Cash And Cash Equivalents
$104.00
USD
$0.00
USD
Accounts Receivable
$0.00
USD
$0.00
USD
Short Term Debt
$0.00
USD
$0.00
USD
Long Term Debt
$0.00
USD
$0.00
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
-$3,074.00
USD
$0.00
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
A Year End Message from Sun Fund CEO Michael Licamele
9 months agoWe would like to thank the over 330 investors to date who have joined to help Sun Fund fight climate change. We have made significant progress in 2018 and are working toward to a profitable 2019.
Sun Fund will be closing its current Start Engine offering on December 31 which is in three days.
We would like our existing investors to consider adding to their existing investments and encourage our over 1,000 followers to take this final opportunity to invest in this current offering this weekend.
What follows is update of where we are now at the end of 2018 and where we are looking to go in 2019.
Sun Fund will be publishing and filing our 2018 audited financial statements and annual report in January. At this point, we anticipate reporting a positive EBITDA from our first full year of operations and we expect to announce our first quarterly dividend for all shareholders of record as of December 31, 2018. We also expect to provide forward revenue guidance for 2019 beginning in January.
Our primary mission at Sun Fund is to fight climate change by reducing greenhouse gas emissions. We develop and build solar power generation projects that replace fossil fuel systems. We are developing an asset-backed security token and associated blockchain technology to bring innovative financial technology solutions to the renewable energy market.
We are pleased to report that Sun Fund has made significant progress in 2018.
Highlights from 2018 for Sun Fund include:
•Building and commissioning our first 30 kilowatts of solar capacity that we will retain for long term ownership along with all associated tax benefits.
•Closing on the sale of 99% of our interest in 155 kilowatts of solar projects in a solar tax equity investment transaction. This transaction is closing on December 31 and the majority of revenue from this sale are projected to be earned and recognized in the first quarter of 2019.
•Negotiating commercial terms for the sale of our interest in a 2.6 megawatt community solar project to a regional utility. This transaction is expected to close in January 2019 and sales revenue is expected to be earned and recognized throughout 2019
•Executing lease-option agreements for 145 megawatts of solar projects in the New England region. These lease options will provide for future Sun Fund projects that will be jointly developed with strategic partners in 2019 and 2020.
The primary challenge faced by Sun Fund management was that cryptocurrency markets imploded in early 2018 as the majority of unregulated tokens and currencies were revealed to be either fraudulent or without value. The Sun Fund management team elected to hold off on a token offering until the market settles and stabilizes. A major goal of Sun Fund is the creation of a securitized token offering backed by renewable energy assets was to bring liquidity to our markets.
Our vision for our token – the Sunny – is that it will become a new financial product that will simultaneously act as a currency, a security and a commodity. Because the current regulatory structure for this type of financial instrument does not yet exist, Sun Fund has chosen to start with a securitized token legal structure in order to be in compliance with US securities laws. Over time, we believe that the regulatory structure will develop to allow these tokens to be used as a currency for payments. This liquidity will then bring funding to renewable energy projects that will replace fossil fuels and reduce greenhouse gas emissions. At the same time, regulated exchanges are completing the regulatory approval process to provide exchange where our asset-backed security token can be traded in a liquid market.
Going forward, management is preparing to launch our asset-backed security token under a new equity offering expected in 2019 that will be a Regulation A+ Tier 2 offering. This offering requires advanced approval by the SEC and will most likely take four to six months to be approved and ready to launch. We expect this offering to be our regulated securitized token offering that will be tradeable on exchanges that will most likely be approved over the next six months as well.
Shareholders in this existing offering will be give two options when the next offering is launched: Option one would be to retain your existing shares with the minimum annual 6% dividend and also receive an equivalent number of shares of the new offering. Option two will be to convert your existing shares to the new offering shares and also receive an equivalent number of shares in the new offering. This is all pending SEC approval of the new offering. The main benefit to shareholders is liquidity because the new securitized tokens will be tradeable when the new exchanges are launched.
Of course, we have to add here that all aspects of the proposed new offering and new exchanges are based on the plan for Sun Fund and there is no guarantee of the timing of the new offering or the new exchanges because that is based on regulatory review and approval.
Thank you for being a part of the Sun Fund community.
Michael Licamele
CEO
Sun Fund
Notice of Funds Disbursement
10 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Sun Fund 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 Sun Fund 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
Sun Fund to Begin Marketing Connecticut Community Solar Subscriptions
10 months agoSun Fund is pleased to announce that it will begin marketing community solar subscriptions in Connecticut starting January 1, 2019 for projects expected to come on line by September of 2019. Sun Fund community solar subscribers will be able to go green with their electric bill and save money on their monthly electric bill.
The first community solar project is a 2.7 megawatt (MW) facility that will be located in Thompson, Connecticut. Sun Fund is completing the approvals for this project over the next six months and the project is expected to serve up to 600 customers.
This solar project will eliminate over 2,600 tons of carbon dioxide from the atmosphere each year which is the equivalent to the carbon sequestered by 2,805 acres of forest each year.
Thank you again to all Sun Fund investors! Your investments are directly helping to reduce greenhouse gas emissions.
- The Sun Fund Team
Notice of Material Change in Offering
about 1 year ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Sun Fund offering. Here's an excerpt describing the specifics of the change:
Sun Fund is extending their campaign.
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.
Sun Fund View on Renewable Energy and Blockchain Technology - July 2018 Update
about 1 year agoFirst, thanks again to our first 257 Sun Fund investors! If you are one of the over 700 Sun Fund followers on Start Engine who have not invested yet, we invite you to take a closer look at Sun Fund and consider investing today. We hope you find this update helpful.
The first six months of 2018 saw a major boom and bust in blockchain cryptocurrencies, with hundreds of once highly-promoted coins and tokens falling to fractions of a penny and investors losing billions. What happened? In our view, hundreds of coins and tokens were issued by unregulated entities - many without even a physical address - and investors paid the price for this lack of transparency. While several key digital currencies such as Bitcoin and Ethereum survive, the majority of coins and tokens issued in the last 12 months are nearly worthless and will most likely never recover.
This early-stage boom and bust cycle for blockchain technology is very similar to the early days of the Internet. Investors poured billions of dollars into just about any company with "dot com" in its name, only to find out that there was no viable business model behind the web site domain name. But just as the underlying technology of the Internet brought major technological change in the last twenty years, so will blockchain technologies fundamentally change most business and industry over the next twenty years.
Now that the initial hype of blockchain technology and digital currencies is over, we believe that solid companies with real technology and solid business models will begin this blockchain technology transformation. Sun Fund is looking to bring the benefits of blockchain technology to the renewable energy industry with a profitable business model for the long term.
Sun Fund will continue to build solar PV projects with long-term revenue contracts while also building a blockchain-based digital currency backed by these assets. Our goal is to launch this digital currency as a regulated token tradable on US exchanges in the fall of 2018. Investors in our current offering will automatically receive these tokens as part of that launch.
Today, regulation of digital tokens and currencies is limited by the existing antiquated regulatory structure. At times, a digital token or coin is simultaneously a currency, commodity and a security all at the same time. The problem is that there are different departments with different sets of regulation for each category. Over time we believe that new regulations will be developed to give blockchain technologies the freedom to develop while at the same time providing protections for holders of these cryptocurrencies. We look forward to working closely with regulators to help develop this framework.
Thanks again to our existing investors and we invite our followers to join us as investors.
- The Sun Fund Team
Notice of Material Change in Offering
about 1 year ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Sun Fund offering. Here's an excerpt describing the specifics of the change:
Sun Fund has extended their campaign for 60 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.
Notice of Funds Disbursement
over 1 year ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Sun Fund 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 Sun Fund 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
Sun Fund Vice President on Blockchain Weekly
over 1 year agoSun Fund Vice President Scott Licamele discusses Sun Fund's blockchain technology strategy on Blockchain Weekly with over 8,000 viewers this past week at:
(The interview starts at 12:00 minutes in)
Thanks.
The Sun Fund Team
Amending our Securities Offering
over 1 year agoHello! Recently, a change was made to the Sun Fund offering. Here's an excerpt describing the specifics of that change:
Sun Fund Renewables Inc. has extended their campaign and updated their financials.
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.
Sun Fund Completing Three Multi-Family Solar PV Projects to Add to Portfolio
over 1 year agoSun Fund is pleased to announce that we are adding three solar PV projects to our growing solar asset portfolio.
The new projects located in Connecticut include a 9 kilowatt system in Bridgeport, a 12.6 kilowatt system in Hamden and a 5.7 kilowatt system in West Haven.
Combined, these projects will generate over 34,000 kilowatt hours of clean energy per year, sequestering carbon equivalent to 29.8 acres of US forest (see graphic below).
The tenants will also see their electric bills reduced by over 20% per year.
The projects are nearing completion and are expected to be commissioned and operating in May.
Thanks again to all our Sun Fund investors who are help making these projects happen.
- The Sun Fund Team
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