David Wolmering
Myrtle Beach, SC (USA)
Role(s):
Active Funding Request
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Other
Aesir Technologies Inc
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Startup
Location:
JOPLIN
Industry:
Technology/Web
Year Founded:
2011
Number Employees:
50-100 people
Business Stage:
Growth (not profitable)
Entity Type:
"S" Corporation
Description:
Aesir Technologies has created a nickel zinc battery technology that is an ideal replacement for lead acid batteries. Twice the power more than twice the power, smaller, lighter, and 90% recyclable. AEsir would welcome your participation in closing the remaining convertible offering. AEsir is looking to close the remaining $600k of $5M Convertible Offering authorized for oversubscription to $7M which bridges to military expected revenues and plans for a Tulsa Gigafactory. Attached is AEsir’s Convertible Note( page 40) Full Deck for your review. Investment Benefits: Above market interest rate(12%), last opportunity to invest in the Company & ability to acquire stock at a discounted price (20%) negotiated by institutional investor/Syndicate. The State of MO has committed to $500,000 as last in investment as part of oversubscription.
Æsir Technologies is launching expansion of current DOD manufacturing capacity with plans to launch a nickel zinc (NiZn) battery gigafactory in Tulsa.
• Navy: The Navy has committed $15M in 2024 for the Joplin, Missouri plant expansion towards full production for submarine batteries with an additional $25M committed for Joplin, Missouri plant expansion.
• Air Force: Phase II funding for Minuteman III ICBM battery program.
• Army: Initial funding for NiZn qualification in Abrams tank and military vehicles.
Investors:
• Board members: Industry veterans from Johnson Controls(Clarios), Continental, and JCI/Interstate.
• Investors: Pierce Marshall and family office Elévage, along with Strategics Investors: Wirtz, HOLT CAT, Catalus Capital
AEsir has offer to build the gigafactory from Tulsa offering $40M in incentives. The Gigafactory will service the needs of the Data Center and 5G telecom markets. Funding the Gigafactory is the growth volume plan with expected 20-24% margins when fully ramped to 800k batteries annually. AEsir is getting closer to finalizing financing totaling $145M needed to fund the construction of a Nickle Zinc (NiZn) battery factory and operational plans. The last big hurdle is finalizing the equity portion( ($60M Syndicate) of the Capital Stack for manufacturing facility to complete scaling process and begin full scale production.
Æsir is also under consideration by the Department of Energy for a $100M grant to double the capacity of the gigafactory to 3.2GW hours in order to meet the needs of the vehicle charging and grid capacity markets. Æsir is in the third stage of approval for this grant through the Bipartisan Infrastructure Law, which has the DOE evaluating the capacity and pricing from our vendors. This provides a very significant potential opportunity for a non-dilutive equity infusion in 2nd gigafactory.