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EnergyNetiQ

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EnergyNetiQ has developed an Energy Cell producing 3 times more heat output than electricity input

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Funded 10 Nov 2022
£460,000 target
£719,650 from 0 investors
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Business overview

Location Wantage, United Kingdom
Social media
Website www.energynetiq.com
Sectors Energy Non-Digital B2B
Company number 12514062
Incorporation date 12 Mar 2020
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Investment summary

Type Equity
Valuation (pre-money) £24.6M
Equity offered 1.84%
Share price £2
Tax relief

EIS

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Business highlights

  • Our Energy Cell uses and produces no carbon
  • It produces three times as much heat output as electricity input*
  • Our team is highly experienced in engineering and energy
  • We could help decarbonise most commercial energy markets
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.00 +
  • Direct investment min. £10,000.00 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 0
  • Discussion
  • Documents

Idea

Introduction

EnergyNetiQ’s zero-carbon Energy Cell, developed over the last 3 years, has been shown to be able to release more energy (as heat) than was added to the water (as electricity).

The cell, which uses only tap water and an electric charge, has shown internally an in/out ratio of over 3 times energy output from 1 energy input*. We believe that by eliminating inefficiencies, it should be possible to increase ratio to over 5x in the next 6–12 months.

EnergyNetiQ has an initial patent pending and plans to file more. The technology has also been independently verified by a university professor with well-established expertise in the field – who measured a ratio of up to 1.8x in December 2020, after seeing the unit’s insulation removed.*

The prototype has a small footprint which can deliver high-temperature and high-pressure steam output. This could lead to applications across almost all energy sectors – including transport, housing, commercial heat, cooling and electricity generation.

*based on internal tests performed by EnergyNetiQ

Substantial accomplishments to date

2020: Independent witnessing by University of Brighton of ratio at unprecedented 1.8x.
2021: Test centre established in Sussex for continued improvements.
2021: Patent filed in September 2022.
2021/22: Continual improvements to system showing achievement of out/in ratio to over 3 times.
2022: Secured R&D Tax Credits, EIS Approvals and an Innovate UK grant competition award.
2022: Design work commenced on applications, exploiting the fact that the system is unusually small scale for the quality of the heat produced, making it suitable for all “sizes” of energy production – ranging from domestic boilers and transportation, all the way up to power stations on a modular basis.

Monetisation strategy

The system aims to produce heat and cold at high pressures for systems operating in major markets, initially in the UK. We have started the process of introducing the system to mainstream manufacturers and energy suppliers. There is a need for solutions to help the UK (and other countries) decarbonise heat, cooling and transport across the domestic and industrial markets.

The earliest sources of revenue for the Company are expected to be:
- Licensing agreements and partnerships with existing industry leaders
- Direct targeting of the Domestic Heat market
- Deployment of simple heating and cooling in the computing industry.
- Heating and gasification for agriculture.

Use of proceeds

The Funds raised will be used for continued development of the Energy Cell, including:

31% – Testing and refining to achieve high out/in ratio

25% – Development of prototypes for heating

21% – Engineering work to get published and peer-reviewed

8% – Legal work to protect and enhance the IP

14% – Essential overheads

Peer-reviewed publication is planned for mid-2023, and, we believe, should enable large-scale fund-raising at increased values.

Key Information

Debt

The company has the following outstanding loans:

1. £8,000 interest free directors loan from Chris Key. The loan does not have any fixed terms for repayment.
2. £30,000 interest free loan from the company secretary, Rupert Fraser. The loan does not have any fixed terms for repayment.
3. £83,000 interest free loan from Frontline Protection Systems Limited to be repaid over the next 24 months in monthly instalments of £3,500 until December 2024.
4.£119,000 interest free loan from E-Netiq Portsdown Limited to be repaid over the next 24 month in month instalments of £5,000 until September 2024.
5. £111k HMRC payment to be repaid in quarterly instalments of £29k until September 2023.
6. £8,000 outstanding payment to J Jenkin Associates payable in December 2022.

The funds raised from this investment round will not be used to repay these loans.

Share Classes

The company currently has 4 classes of shares, A Ordinary Shares, Ordinary Shares, Bv (voting) Shares and Bn (non-voting) Shares. Ordinary and A Ordinary Shares rank equally in all respects, except that the A Ordinary Shareholders’ votes are controlled by the board. All investors in this round, including Seedrs investors, will receive Ordinary Shares.

The B Shares are growth shares granted to key employees and advisors. Once an initial performance related hurdle is hit, the Bn shares convert to Bv and receive a right to vote. Once the shares are fully paid up, they convert to Ordinary Shares and have the right to participate on an exit.

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £24,605,830

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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