Burt Hamner · Tue, 04/27/2010 - 16:48
Business
Business Overview:
Hydrovolts offers investors opportunity in highly profitable distributed renewable energy generation that also has significant impact on social development and poverty reduction. We have three equity investors already, we have won significant awards and prizes, and we are closing our seed funding round of $500k for additional investments of $50-100k. The Series B financing of $3.5M is now in development and partners are now being selected.
Project Type:
Industry:
Services Desired:
Accounting
What is the Customer Pain that you are solving?:
Demand for sustainable, accessible and affordable clean energy generation is growing—both domestically and globally. It is especially acute in much of the developing world where electricity is unavailable, unreliable and/or increasingly costly.
Names of any current or recent customers:
The US Navy, the University of Washington and the Woods Hole Oceanographic Institution have officially recognized our breakthrough technology and are working with us now. Hydrovolts was a cash winner and national finalist in the 2009 Clean Tech Open, and also the winner of the CTO National Sustainability Award. The company won $50,000 investment from the Zino Society 2009 Green LLC, and won awards from the Northwest Entrepreneur Network and the INC Magazine Newpreneur contest.
Sales/Marketing Strategy:
Hydrovolts turbines are scalable, portable, low cost, easy to install and safe for fish. Operating cost is 2-4 cents per kWh and in a typical installation the capital ROI for the customer is less than five years. The turbine’s mechanical innovation transforms small-scale hydropower through its accessibility and affordability.
Business Model:
Hydrovolts manufactures portable electricity generators that are powered by water. The generators (turbines) are sold through existing distributors of industrial pumps, and small wind and solar energy systems. Target customers are institutions and medium-large corporations that manage large water systems and can buy multiple units. The initial market segment is irrigation districts, starting in western U.S. states where, just there, a $1.6 billion market exists. Much larger global markets are ready for our renewable power solution.
Product/Services Overview (what does it do):
Billions of people suffer from high electricity costs, and they live near millions of artificial water channels whose currents have significant hydropower potential. Hydrovolts technology taps into this plentiful but overlooked global source of renewable energy, offering an economical and easy way to generate reliable, local clean power.
Technology
Describe in detail the technology used in the Project - Address the innovation in significant detail :
The turbine has performed according to the development plan. It is pre-commercial. Field demonstrations for power output specification are underway. A customer has agreed to host a demonstration project. Purchase inquiries have been received from 17 countries.
Team
| Name | Title |
|---|---|
| Burt Hamner | CEO |
| Chris Leyerle | COO |
| Chris Huston | CFO |
Financials
Amount Sought:
$500,000 If raising funds, what shall the funds be used for?:
Continued development, demo
units, IP development, acquire beta customers.
Funding Received to Date:
$160,000 Testimonials
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