Simpa Networks reported launching a $3.5 million mezzanine private placement. According to the filing, 63% or $2.2 million was sold to four backers a little over a week ago. $1.3 million in additional funding can be raised before May 2015 based on the placement’s structure. The company closed four previous unregistered private placements which raised an estimated $8.41 million. The company is backed by the International Finance Corp as well as the Asian Development Bank.
Simpa Networks markets and designs energy solutions to under-served consumers in emerging markets using its pay-as-you-go “progressive purchase” business model. The company’s customers make a small initial down payment for a high quality solar home system and then pre-pay for their energy service, topping up their systems in small user-defined increments using a mobile phone. Each payment adds towards their final purchase price. Once fully paid, the system unlocks permanently and continues to produce electricity. The technology is also offered to solar micro-grid developers as a flexible prepaid metering, customer, and cloud-based revenue management software.
The company, headquartered in Seattle WA, is led by Paul Needham (President). Simpa Networks kept its revenues undisclosed.
The executive team includes Karthik Meda, Rupesh Shah and Sanjay Bharti.
The board of directors includes Aniruddha Patil, Bruno Walt, David Arfin, Karl Mehta and Miguel Granier.
The company has raised an estimated total of $10.61 million via private unregistered security offerings.
Status: First close
Company: Simpa Networks
Industry: Other Energy
Amount offered: $3.5 million
Amount placed: $2.2 million
First sale: 05-13-2014
Data as of: 05-23-2014
Solaris Power Cells raised $400,000 as part of a fully subscribed non-brokered equity offering. The subscription lured six investors. The company closed three previous unregistered private placements which raised an estimated $375,000.
Solaris Power Cells trades under symbol OTC: SPCL.
Solaris Power Cells designs, markets and manufactures solar energy storage devices, specifically a passive electron storage array power cell. According to the company, the battery doesn’t require maintenance, routine replacement, and is environmentally friendly.
The company, headquartered in Palm Springs CA, is led by Vincent A Palmieri (CEO). Solaris Power Cells elected to keep its revenues undisclosed.
The executive team includes Leonard Caprino, Raymond Madick, Roy Givens and Vincent Anthony Palmieri.
The company has raised an estimated total of $775,000 via private unregistered security offerings.
Company: Solaris Power Cells
Industry: Other Energy
Amount offered: $400,000
Amount placed: $400,000
First sale: 05-20-2014
Data as of: 05-20-2014
Change: offered +76% / raised +76% / placed 100%
Zero Emission Energy Plants (DBA ZEEP) re-opened and closed its unregistered equity offering after increasing the placement’s size from $121,000 to $212,000. The offer closed after the company raised $91,000 from five additional investors within one month. At closing, a total of nine investors had subscribed to Zero Emission Energy Plants’ offering. The company closed fifteen unregistered private placements which raised an estimated $26.87 million.
The company is a producer of chemical grade methanol through the development of methanol projects using mature gas to liquids conversion technology. Its project development pipeline is concentrated on the US Gulf Coast exploiting low natural gas feedstock costs and leveraging leading infrastructure and market access.
The company, headquartered in Austin TX, is led by Ronald E Oligney (CEO). Zero Emission Energy Plants disclosed having revenues on or below $5 million.
The executive team includes Angela L Sandford, Bruce A Bernard and Philip E Lewis. The board of directors includes Bryce C Tingle and Jennifer D Whitley.
The company has raised an estimated total of $27.08 million via private unregistered security offerings.
Company: Zero Emission Energy Plants
Industry: Other Energy
Amount offered: $212,000
Amount placed: $212,000
First sale: 02-18-2014
Data as of: 03-24-2014
Accio Energy closed a $710,000 mezzanine round with four investors. The company raised an estimated $5.65 million in debt and equity since early 2010. The company was originally backed by Automation Alley and the Frankel Commercialization Fund.
Accio Energy commercializes a patented technology known as “aerovoltaic technology”. The technology harnesses the electrokinetic energy of the wind without any moving turbine blades, in other words it harvests static electricity from the atmosphere. In July the company secured the patents for the technology and is fast approaching the development of its first economically viable product.
Accio Energy, located in Ann Arbor MI, was founded in 2008 and is lead by Jennifer Baird (CEO and co-founder). The executive team includes Dawn White (Co-founder, President and CTO).
Company: Accio Energy
Industry: Other Energy
Amount offered: $710,000
Amount placed: $710,000
First Sale: 10/15/13
Sunlight Photonics, Inc. announced the completion of a $750,000 debt private placement which was initiated last month. The non-brokered offering was subscribed by VenEarth Group LLC. The company raised an estimated $5,625,000 via five offerings until now. Sunlight was originally backed by MicroUnity Systems Engineering, Inc., a company specialized in microprocessors research and development lead by John Moussouris. In 2009 MicroUnity folded its sustainable and green technology investments in VenEarth Group LLC, a vehicle designed to reduce the impact farming has on the environment.
Sunlight Photonics is developing low cost, high efficiency renewable energy sources based on solar power. The company leverages the advantage of both thin-film and crystalline semiconductor photovoltaic (PV) technologies to deliver affordable solar power for both terrestrial and extraterrestrial applications. Its flexible and stretchable Thin-Film Multi-Junction cells and modules offer a host of applications in many industries from transportation to mobile electronics.
The company, headquartered in South Plainfield NJ, was founded in April 2008. It is lead by Michael Cyrus (President and CEO). The executive team includes Allan Bruce (Materials), Sergey Frolov (Technology) and Jodi Maria Ciongoli (Operations).
Wing Power Energy, Inc. placed $400,000 worth of mezzanine instruments with three investors in a non-brokered financing. The company has raised until now an estimated $1.5 million in seed funding and is looking to raise at least $5 million to fund its expansion. This is the first time the company is offering debt.
The company designs, integrates and installs renewable energy solutions for retail brands, wireless companies and tower companies. The company is focusing for now on micro-wind systems that produce less than 10 kilowatts and is patenting a system and method for efficient wind power generation. The system includes a shaft that rotates around a vertical axis, a plurality of blades, and a plurality of arms that couple the blades to the shaft. The full description of the patent is available at the US Patent & Trademark Office. The company has a relationship with Verizon which is looking for innovations to develop its 4G LTE network and deliver wireless services where traditional power sources are not available.
Wing Power Energy, headquartered in Burlington MA, was founded in July 2010 by Kahoru “Kalu” Watanabe (Business Development). The management team includes Harry Ruda (CEO), Steve Bragg (COO), Dan Wright (CFO), Bob Tomasi (Operations) and Sue Madden Moore (Marketing). The company subcontracts the manufacturing of its wind turbine to Tansei Techno Co., Ltd., Muneyoshi Shibagaki respresents the company on the board of directors. Wing Power Energy has fifteen employees.
Verterra Energy, Inc. raised 50% of its $600,000 offering from one investor via a non-brokered private equity placement. The company has earmarked an estimated $48,000 toward the payment of executives salaries. Verterra offered since 2012 an estimated $2.9 million in equity, it is unclear exactly how much was raised in 2012.
The company designed a low profile vertical axis hydro-kinetic turbine to harness the power of low-flowing water to generate approximately 10kW of clean renewable electricity. The turbine can be used in rivers, man-made canals, waterways, tidal areas and ocean currents. Multiple turbine can be combined in pods to increase the electricity output at will. The turbine’s scalability feature makes it an ideal candidate for markets ranking from the home owner to municipalities or utilities and its relatively low deployment cost make it suitable for installation in rural communities and developing countries. The turbine design is patented and further technical information can be found at the US Patent and Trademark Office.
The turbine is the brain child of the company’s founder Theodore “Ted” J. Christopher (Chairman and CEO). The management team includes: Christopher “Chris” L. Pederson, Neil C. Doty and Dave J. Roby. The company is headquartered in Brooklyn Park MN and was founded in August 2010.
RedWave Energy, Inc. sold $1 million worth of equity to Northwater Intellectual Property Fund LP 3 a fund managed by Northwater Capital Management, Inc. Northwater is a niche venture capital boutique that invests in intellectual property and intellectual property-rich companies. The fund originally invested for the first time in the company in March 2012. With this new financing Northwater’s investment in the company reaches the $3 million mark.
RedWave’s purpose is to manufacture and commercialize high tech rectennas, i.e. nano scale antennas (nantenna) coupled with special high-speed electrical circuitry (geometric diodes) to generate renewable energy from infrared and near infrared spectrum present in sunlight and thermal radiation. A nantenna converts 95% of infrared sunlight into energy and was developed by the Idaho National Labs. The University of Colorado developed the geometric diodes that slow down the oscillation of the electricity produced to usable levels.
The company is headquartered in Glen Ellyn, IL and is lead by Patrick K. Brady (CTO) and James Nelson (CEO).