About
We're hiring! StorEn Technology is developing evolutionary vanadium flow batteries. We are incubated at the CEBIP within Stony Brook University in Long Island, NY. Building upon the demonstrated strengths of vanadium flow batteries such as durability and sturdiness, StorEn R&D activities focus on improving the electrical efficiency of the stack, the energy density of the electrolyte and the module. The completion of our R&D led to four PCT international patent applications. StorEn targets specific market applications that are already economically viable, without subsidies, and enjoys rapid time-to-market. StorEn solutions can deliver superior performances at a lower cost and fulfill market demand for efficient and cost-effective energy storage.
- New York, United States of America
- Legal Name: Storen Technologies INC
- Company ID:
- Year Founded: 2017
- Industry: Oil & Energy
- Website: https://www.storen.tech
- SEC Filings
Highlights
$60M
CF Valuation
$928.7K
Total Raised
$50.3K
Revenue
5
Employees
Indicators
Profit Margin
-3771.9%
(336.8%)
2022: -4108.7%
Current Ratio
14
(182.3%)
2022: 4.96
Revenue Growth
Financials
| INCOME STATEMENT | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Revenue | $50,303 | $34,724 | $0 | $100,000 | $0 | $0 | $0 | -50% |
| Cost of Goods Sold | -$43,143 | -$56,490 | $0 | -$92,647 | $0 | $0 | $0 | -53% |
| Gross Profit | $7,160 | -$21,766 | $0 | $7,353 | $0 | $0 | $0 | -3% |
| Other Costs | -$1,904,543 | -$1,404,953 | $80,073 | -$1,050,109 | -$620,848 | $488,940 | -$126,835 | 1,402% |
| Taxes Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net Income | -$1,897,383 | -$1,426,719 | $80,073 | -$1,042,756 | -$620,848 | $488,940 | -$126,835 | 1,396% |
| BALANCE SHEET | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Cash | $3,291,128 | $1,795,411 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,831% |
| Accounts Receivable | $6,519 | $111,219 | $0 | $0 | $0 | $0 | $0 | -94% |
| Total Liquidity | $3,297,647 | $1,906,630 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,874% |
| Other Assets | -$1,450,515 | $1,384,498 | $755,630 | $142,967 | $85,785 | $0 | $0 | -1,791% |
| Total Assets | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| Short Term debt | $131,946 | $664,014 | $407,243 | $120,833 | $203,843 | $0 | $0 | -35% |
| Long Term debt | $65,994 | $64,500 | $0 | $0 | $0 | $47,608 | $15,742 | 319% |
| Total Debt | $197,940 | $728,514 | $407,243 | $120,833 | $203,843 | $47,608 | $15,742 | 1,157% |
| Other Liabilities | $1,649,192 | $2,562,614 | $2,271,837 | $262,268 | $157,280 | -$44,365 | -$735 | -224,480% |
| Total Liabilities | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
Revenue Growth
Employee Growth
Valuation Growth
Financials
| INCOME STATEMENT | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Revenue | $50,303 | $34,724 | $0 | $100,000 | $0 | $0 | $0 | -50% |
| Cost of Goods Sold | -$43,143 | -$56,490 | $0 | -$92,647 | $0 | $0 | $0 | -53% |
| Gross Profit | $7,160 | -$21,766 | $0 | $7,353 | $0 | $0 | $0 | -3% |
| Other Costs | -$1,904,543 | -$1,404,953 | $80,073 | -$1,050,109 | -$620,848 | $488,940 | -$126,835 | 1,402% |
| Taxes Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net Income | -$1,897,383 | -$1,426,719 | $80,073 | -$1,042,756 | -$620,848 | $488,940 | -$126,835 | 1,396% |
| BALANCE SHEET | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Cash | $3,291,128 | $1,795,411 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,831% |
| Accounts Receivable | $6,519 | $111,219 | $0 | $0 | $0 | $0 | $0 | -94% |
| Total Liquidity | $3,297,647 | $1,906,630 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,874% |
| Other Assets | -$1,450,515 | $1,384,498 | $755,630 | $142,967 | $85,785 | $0 | $0 | -1,791% |
| Total Assets | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| Short Term debt | $131,946 | $664,014 | $407,243 | $120,833 | $203,843 | $0 | $0 | -35% |
| Long Term debt | $65,994 | $64,500 | $0 | $0 | $0 | $47,608 | $15,742 | 319% |
| Total Debt | $197,940 | $728,514 | $407,243 | $120,833 | $203,843 | $47,608 | $15,742 | 1,157% |
| Other Liabilities | $1,649,192 | $2,562,614 | $2,271,837 | $262,268 | $157,280 | -$44,365 | -$735 | -224,480% |
| Total Liabilities | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| INCOME STATEMENT | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Revenue | $50,303 | $34,724 | $0 | $100,000 | $0 | $0 | $0 | -50% |
| Cost of Goods Sold | -$43,143 | -$56,490 | $0 | -$92,647 | $0 | $0 | $0 | -53% |
| Gross Profit | $7,160 | -$21,766 | $0 | $7,353 | $0 | $0 | $0 | -3% |
| Other Costs | -$1,904,543 | -$1,404,953 | $80,073 | -$1,050,109 | -$620,848 | $488,940 | -$126,835 | 1,402% |
| Taxes Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net Income | -$1,897,383 | -$1,426,719 | $80,073 | -$1,042,756 | -$620,848 | $488,940 | -$126,835 | 1,396% |
| BALANCE SHEET | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Cash | $3,291,128 | $1,795,411 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,831% |
| Accounts Receivable | $6,519 | $111,219 | $0 | $0 | $0 | $0 | $0 | -94% |
| Total Liquidity | $3,297,647 | $1,906,630 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,874% |
| Other Assets | -$1,450,515 | $1,384,498 | $755,630 | $142,967 | $85,785 | $0 | $0 | -1,791% |
| Total Assets | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| Short Term debt | $131,946 | $664,014 | $407,243 | $120,833 | $203,843 | $0 | $0 | -35% |
| Long Term debt | $65,994 | $64,500 | $0 | $0 | $0 | $47,608 | $15,742 | 319% |
| Total Debt | $197,940 | $728,514 | $407,243 | $120,833 | $203,843 | $47,608 | $15,742 | 1,157% |
| Other Liabilities | $1,649,192 | $2,562,614 | $2,271,837 | $262,268 | $157,280 | -$44,365 | -$735 | -224,480% |
| Total Liabilities | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| INCOME STATEMENT | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Revenue | $50,303 | $34,724 | $0 | $100,000 | $0 | $0 | $0 | -50% |
| Cost of Goods Sold | -$43,143 | -$56,490 | $0 | -$92,647 | $0 | $0 | $0 | -53% |
| Gross Profit | $7,160 | -$21,766 | $0 | $7,353 | $0 | $0 | $0 | -3% |
| Other Costs | -$1,904,543 | -$1,404,953 | $80,073 | -$1,050,109 | -$620,848 | $488,940 | -$126,835 | 1,402% |
| Taxes Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net Income | -$1,897,383 | -$1,426,719 | $80,073 | -$1,042,756 | -$620,848 | $488,940 | -$126,835 | 1,396% |
| BALANCE SHEET | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Cash | $3,291,128 | $1,795,411 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,831% |
| Accounts Receivable | $6,519 | $111,219 | $0 | $0 | $0 | $0 | $0 | -94% |
| Total Liquidity | $3,297,647 | $1,906,630 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,874% |
| Other Assets | -$1,450,515 | $1,384,498 | $755,630 | $142,967 | $85,785 | $0 | $0 | -1,791% |
| Total Assets | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| Short Term debt | $131,946 | $664,014 | $407,243 | $120,833 | $203,843 | $0 | $0 | -35% |
| Long Term debt | $65,994 | $64,500 | $0 | $0 | $0 | $47,608 | $15,742 | 319% |
| Total Debt | $197,940 | $728,514 | $407,243 | $120,833 | $203,843 | $47,608 | $15,742 | 1,157% |
| Other Liabilities | $1,649,192 | $2,562,614 | $2,271,837 | $262,268 | $157,280 | -$44,365 | -$735 | -224,480% |
| Total Liabilities | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| INCOME STATEMENT | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Revenue | $50,303 | $34,724 | $0 | $100,000 | $0 | $0 | $0 | -50% |
| Cost of Goods Sold | -$43,143 | -$56,490 | $0 | -$92,647 | $0 | $0 | $0 | -53% |
| Gross Profit | $7,160 | -$21,766 | $0 | $7,353 | $0 | $0 | $0 | -3% |
| Other Costs | -$1,904,543 | -$1,404,953 | $80,073 | -$1,050,109 | -$620,848 | $488,940 | -$126,835 | 1,402% |
| Taxes Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net Income | -$1,897,383 | -$1,426,719 | $80,073 | -$1,042,756 | -$620,848 | $488,940 | -$126,835 | 1,396% |
| BALANCE SHEET | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Cash | $3,291,128 | $1,795,411 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,831% |
| Accounts Receivable | $6,519 | $111,219 | $0 | $0 | $0 | $0 | $0 | -94% |
| Total Liquidity | $3,297,647 | $1,906,630 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,874% |
| Other Assets | -$1,450,515 | $1,384,498 | $755,630 | $142,967 | $85,785 | $0 | $0 | -1,791% |
| Total Assets | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| Short Term debt | $131,946 | $664,014 | $407,243 | $120,833 | $203,843 | $0 | $0 | -35% |
| Long Term debt | $65,994 | $64,500 | $0 | $0 | $0 | $47,608 | $15,742 | 319% |
| Total Debt | $197,940 | $728,514 | $407,243 | $120,833 | $203,843 | $47,608 | $15,742 | 1,157% |
| Other Liabilities | $1,649,192 | $2,562,614 | $2,271,837 | $262,268 | $157,280 | -$44,365 | -$735 | -224,480% |
| Total Liabilities | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| INCOME STATEMENT | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Revenue | $50,303 | $34,724 | $0 | $100,000 | $0 | $0 | $0 | -50% |
| Cost of Goods Sold | -$43,143 | -$56,490 | $0 | -$92,647 | $0 | $0 | $0 | -53% |
| Gross Profit | $7,160 | -$21,766 | $0 | $7,353 | $0 | $0 | $0 | -3% |
| Other Costs | -$1,904,543 | -$1,404,953 | $80,073 | -$1,050,109 | -$620,848 | $488,940 | -$126,835 | 1,402% |
| Taxes Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net Income | -$1,897,383 | -$1,426,719 | $80,073 | -$1,042,756 | -$620,848 | $488,940 | -$126,835 | 1,396% |
| BALANCE SHEET | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | TOTAL GROWTH |
|---|---|---|---|---|---|---|---|---|
| Cash | $3,291,128 | $1,795,411 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,831% |
| Accounts Receivable | $6,519 | $111,219 | $0 | $0 | $0 | $0 | $0 | -94% |
| Total Liquidity | $3,297,647 | $1,906,630 | $1,923,450 | $240,134 | $275,338 | $3,243 | $15,007 | 21,874% |
| Other Assets | -$1,450,515 | $1,384,498 | $755,630 | $142,967 | $85,785 | $0 | $0 | -1,791% |
| Total Assets | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
| Short Term debt | $131,946 | $664,014 | $407,243 | $120,833 | $203,843 | $0 | $0 | -35% |
| Long Term debt | $65,994 | $64,500 | $0 | $0 | $0 | $47,608 | $15,742 | 319% |
| Total Debt | $197,940 | $728,514 | $407,243 | $120,833 | $203,843 | $47,608 | $15,742 | 1,157% |
| Other Liabilities | $1,649,192 | $2,562,614 | $2,271,837 | $262,268 | $157,280 | -$44,365 | -$735 | -224,480% |
| Total Liabilities | $1,847,132 | $3,291,128 | $2,679,080 | $383,101 | $361,123 | $3,243 | $15,007 | 12,208% |
Indicators
Profit Margin
-3771.9%
(336.8%)
2022: -4108.7%
Current Ratio
14
(182.3%)
2022: 4.96
Efficiency Ratio
85.8%
(-47.3%)
2022: 162.7%
Key figures
| INCOME STATEMENT | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|
| Revenue Growth | 45% | ∞ | -100% | ∞ | ∞ | ∞ | ∞ |
| Profit Margin | -3,772% | -4,109% | 0% | -1,043% | 0% | 0% | 0% |
| Current Ratio | 14% | 5% | 7% | 3% | 2% | ∞ | ∞ |
| Efficiency Ratio | 86% | 163% | ∞ | 93% | ∞ | ∞ | ∞ |
| Solvency Ratio | -959% | -196% | 20% | -863% | -305% | 1,027% | -806% |
| Debt Ratio | 11% | 22% | 15% | 32% | 56% | 1,468% | 105% |
Funding History
1 Funding Round
$928,676Total Raised
$59,984,469CF Valuation
—Valuation Growth
| ROUND | STATUS | CLOSE DATE | RAISED | PLATFORM | SECURITY | TERMS | GROWTH | REGULATION | DAYS OPEN | START DATE |
|---|---|---|---|---|---|---|---|---|---|---|
1. Closed | Closed | Nov 05, 2024 | $928,676 | StartEngine | Equity | $60M valuation | — | SEC Reg CF | 156 days | Jun 02, 2024 |
