Kerdea Technologies placed an additional $338,000 worth of equity securities with six new investors according to a document filed with the SEC. The offering initiated in April 2013 was targeting $1.3 million of which $400,000 were placed as of May 2013. The offering’s cap now stands at $1.72 million, 96% of which is subscribed by a total of twenty seven investors. Kerdea raised an estimated $2.6 million since its foundation.
The company has been quietly presenting its technology and looking for investors since 2012. It designed, develops and markets cost effective sub-miniature micro-chip oxygen sensors for small engines. According to the patent, the technology relates to oxygen sensors for sensing exhaust gases in an internal combustion engine or in any combustion process where control of the air-fuel ratio is desired. Of particular usefulness is the use of the sensors for control of small spark ignition engines such as those used in motorcycles, ATVs, recreational marine applications and unmanned air vehicles. In addition, the sensor is also suitable for individual cylinder control in multi-cylinder engines and hybrid engines for automotive and off-road applications. This invention may also be used as a safety device to trigger an alarm and/or disable combustion processes that produce rich exhaust gasses in enclosed spaces to prevent adverse conditions such as CO poisoning.
Kerdera, headquartered in Greenville NC, was registered in 2012. Revenues were not disclosed. The executive team includes Douglas M. Carnes (CEO), Ken E. Fosaaen (CTO) and Lloyd A. Pearson (CFO). The board of directors includes James Nelson.
Company: Kerdea Technologies
Amount offered: $1,720,000
Amount placed: $1,655,893
First sale: 04/23/13