Liquid Piston did a very successful raise on StartEngine before and is now raising again in an A+ run independently. We did participate a few rounds back via StartEngine.
Financials:
They lined up a first six months of 2022 to 2021 yoy comparison fyi.
- Revenue jumped from $194K to over $3.5M
- Almost experienced break even looking at the first 6 months of 2022
- $8.28M in cash and maintained very low debt load
Her is more data straight from the firm itself:
Customers: We continue to focus on military and aerospace power applications as our initial target markets. We have received very strong indications of customer interest as well as development contracts that serve, effectively, as non-dilutive financing. We are currently executing on seven DoD contracts that will total >$20M over their lifetimes. Below are examples of media coverage that ensued:
Product Development: During 2022, despite having to deal with some endemic supply chain issues, we significantly furthered the development of our compact rotary X-Engine™ with the goal of achieving the technology readiness level (TRL) required to deliver the contracted field prototypes running on military-grade heavy fuels to the U.S. Army. We will be making additional public product-related announcements over the coming months. We think this picture says it all – why lug around something big and heavy when you can get the same power in our small-but-mighty engine? (Unveiling Coming Soon!) 2023 is shaping up to be a big year for LiquidPiston, as we:
- Focus on our Army and Air Force deliverables
- Compete for other DoD development and future product opportunities
- Boost our internally-funded R&D and technology demonstration efforts…our current portfolio of 79 granted & pending patents will expand
- Continue to build out our management and functional teams to support our maturation from being an advanced development company to also being a technology and product operating company
- Engage with selected military integrators and industrial firms as potential partners
- Successfully conclude our Reg A+ campaign to fund our engine industrialization efforts and pathway to commercialization
