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Edisun Microgrids

Edisun is disrupting the $100b solar industry with solar tracking and Microgrids that boost economics.

Edisun Microgrids is offering securities under both Regulation D and Regulation CF through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to % of the value of the securities sold and equity compensation equal to % of the number of securities sold. Investments made under both Regulation D and Regulation CF involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Furthermore, the contents of the Highlights, Term Sheet sections have been prepared by SI Securities and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by Edisun Microgrids without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Investors should review the risks and disclosures. The contents below are meant to be a summary of the information found in the company’s Form C. Before making an investment decision, investors should review the company’s Form C for a complete description of its business and offering information, a copy of which may be found both here and below.


About Edisun Microgrids

The world’s energy needs are skyrocketing, and experts project that global demand will only continue to rise. Where will all this energy come from?

At Edisun Microgrids, we believe solar can be a major source of the world’s energy because every day the sun provides more than 10,000 times the energy the world needs. The key is making solar cost-effective and available on-demand.  Edisun's solutions address these hurdles and through them, we are aiming to drive down the cost of solar energy to make clean power more affordable than fossil fuels.

Our technology is a new solar tracking system named PV Booster™ that points solar panels directly at the sun all day long. By enabling the panels to continuously face the sun, PV Booster increases clean energy production by 30% and improves the economics of solar by 20%. We designed PV Booster to meet the unique needs of the underserved Commercial and Industrial (C&I) rooftop solar market – a trillion dollar opportunity in the US alone.

Our sun-tracking technology also allows us to concentrate sunlight which produces high-temperature solar energy. Then, with our proprietary energy storage technology, we can make solar-generated electricity available 24 hours a day. This means that, for the first time ever, we will produce on-demand solar electricity at a price lower than fossil fuels.

Edisun has already received over $1.1million in PV Booster orders and will be powering the largest rooftop tracker installation in the world. We’ve also signed a $10 million, 10-year licensing agreement with a company in China for our proprietary technologies.

Our goal is to drive down the cost of solar energy to make it more affordable than fossil fuels so it won’t require any subsidies, it won’t require any grants, it won’t require any laws, it will just happen because it’s actually more cost-effective.

We are now scaling globally and are very excited to find partners, distributors, and investors to help us take these new capabilities to the whole planet.


Tune in to hear from Bill Gross, CEO of Edisun Microgrids as he presents on Wednesday, December 6th at 4:00pm ET. 

Registration URL: https://attendee.gotowebinar.com/register/6678329560593921281

Product & Service

PV Booster is a rooftop solar tracking system built specifically for the commercial and industrial (C&I) solar sector. By enabling modules to continuously face the sun, PV Booster increases energy capture of the modules by 30%, improving project economics by 20% over standard fixed-tilt installations.

Many commercial and industrial building owners are interested in going solar, but can’t make the economics pencil out. Using PV Booster dramatically boosts financial returns and makes solar economically viable at sites where projects were not previously feasible.

Edisun’s proprietary design and control algorithms for PV Booster overcomes the challenges that have historically prevented rooftop trackers from being installed, like weight, size, mounting points, and wind resistance.

PV Booster is manufactured to order, and includes the roof attachments, tracking structure, pre-fabricated wiring and grounding, electrical control units, project engineering drawings, and a full product diligence package to assist any customer in the estimating and permitting process. Once projects are installed and operational, Edisun’s relationship with customers continues through our customer service program.

PV Booster’s long-term opportunity is to accelerate adoption of solar around the world. This technology is part of Edisun Microgrid’s mission to drive down the cost of solar energy to make clean power more affordable than fossil fuels.



Tune in to hear from Bill Gross, CEO of Edisun Microgrids as he presents on Wednesday, December 6th at 4:00pm ET.

Registration URL: https://attendee.gotowebinar.com/register/6678329560593921281

Media Mentions

Team Story

Bill Gross, our CEO and the founder of Edisun, has been interested in solar power since he was a teenager. His first business at age 15 was selling plans for solar-powered water heaters and ovens out of the back pages of Popular Science. Fast forward 150+ companies and 45 successful IPO’s and acquisitions later when Bill, again, took a new look at the business opportunity afforded by solar energy. With new ideas and a fresh perspective, Bill founded Edisun with the goal of making solar power more affordable than fossil fuels.

Founders and Officers

Bill Gross, has more than 40 years experience in conceiving and starting new technology companies beginning when he was just a teenager. While in college at the California Institute of Technology, Mr. Gross founded GNP development which was acquired by Lotus Development (now owned by IBM). While in his 20’s. Mr. Gross founded Knowledge Adventure which was acquired by Vivendi.

In 1996, filled with ideas, Bill decided to start his dream laboratory – a company “incubator” – modeled after Thomas Edison’s lab. Named Idealab, the company’s mission is to challenge the status quo, to be bold, and to tackle big ideas that others would not. Idealab just celebrated its 21st anniversary, and during its more than two decades, it has started more than 150 companies, created more than 10,000 jobs, and had more than 45 successful IPOs and acquisitions.

Bill has also started numerous solar energy companies, including Energy Innovations, RayTracker, and Thermata, each of which was successfully acquired by leaders in the field. His newest effort in renewable energy is Edisun Microgrids, a company whose technologies are making solar energy more affordable than fossil fuels

Rick Huibregtse comes to Edisun from Idealab-founded company eSolar, having led their engineering, supply chain and project management teams since 2012. This work culminated in a turn-key commercial project in Australia with over 23,000 tracking heliostats at target cost, performance, schedule and reliability. Prior to this, Rick had 25 years of experience in the automotive and commercial vehicle powertrain components sector at Delphi Automotive, Remy International and General Motors in product areas including engine management, engine controls, rotating electrics and vehicle electrical systems. His work in product development, customer programs, IP generation, manufacturing engineering, product reliability and global supply chain translate well to Edisun's roadmap. Rick's expatriate experience includes launching a new greenfield plant in Portugal and leading customer technical interface teams in Luxembourg. He has a BSME degree with a EE/computer systems specialty from GMI/Kettering University.

Vikas Tuteja is a business development, finance and strategy professional with experience as an investor, management consultant and engineer. Prior to his involvement in the renewable sector, Vikas was an investor at several hedge and mutual funds. He was also a consultant at McKinsey & Company and an Engineer at Ford Motor Company where he received two patents. Vikas received his MBA from the Harvard Graduate School of Business and his BSEE from GMI Engineering & Management Institute.

Conrad Chase

VP Sales & Business Development

Conrad Chase has spent over 12 years in business development, project development and project finance roles. Most recently Conrad served as the Director of Project Finance for Inovateus Solar, a Midwest-based solar developer and EPC. His work at Inovateus was preceded by executive-level business development roles in the technology, mining and metals industries. Conrad has extensive experience doing business globally, with a focus on Asia, North and South America. He is fluent in Spanish and received his B.S. in International Studies from the University of Wisconsin-Madison.

William Gross

CEO

Bill Gross, has more than 40 years experience in conceiving and starting new technology companies beginning when he was just a teenager. While in college at the California Institute of Technology, Mr. Gross founded GNP development which was acquired by Lotus Development (now owned by IBM). While in his 20’s. Mr. Gross founded Knowledge Adventure which was acquired by Vivendi.

In 1996, filled with ideas, Bill decided to start his dream laboratory – a company “incubator” – modeled after Thomas Edison’s lab. Named Idealab, the company’s mission is to challenge the status quo, to be bold, and to tackle big ideas that others would not. Idealab just celebrated its 21st anniversary, and during its more than two decades, it has started more than 150 companies, created more than 10,000 jobs, and had more than 45 successful IPOs and acquisitions.

Bill has also started numerous solar energy companies, including Energy Innovations, RayTracker, and Thermata, each of which was successfully acquired by leaders in the field. His newest effort in renewable energy is Edisun Microgrids, a company whose technologies are making solar energy more affordable than fossil fuels

Rick Huibregtse

President

Rick Huibregtse comes to Edisun from Idealab-founded company eSolar, having led their engineering, supply chain and project management teams since 2012. This work culminated in a turn-key commercial project in Australia with over 23,000 tracking heliostats at target cost, performance, schedule and reliability. Prior to this, Rick had 25 years of experience in the automotive and commercial vehicle powertrain components sector at Delphi Automotive, Remy International and General Motors in product areas including engine management, engine controls, rotating electrics and vehicle electrical systems. His work in product development, customer programs, IP generation, manufacturing engineering, product reliability and global supply chain translate well to Edisun's roadmap. Rick's expatriate experience includes launching a new greenfield plant in Portugal and leading customer technical interface teams in Luxembourg. He has a BSME degree with a EE/computer systems specialty from GMI/Kettering University.

Vikas Tuteja

COO

Vikas Tuteja is a business development, finance and strategy professional with experience as an investor, management consultant and engineer. Prior to his involvement in the renewable sector, Vikas was an investor at several hedge and mutual funds. He was also a consultant at McKinsey & Company and an Engineer at Ford Motor Company where he received two patents. Vikas received his MBA from the Harvard Graduate School of Business and his BSEE from GMI Engineering & Management Institute.

Conrad Chase

VP Sales & Business Development

Conrad Chase has spent over 12 years in business development, project development and project finance roles. Most recently Conrad served as the Director of Project Finance for Inovateus Solar, a Midwest-based solar developer and EPC. His work at Inovateus was preceded by executive-level business development roles in the technology, mining and metals industries. Conrad has extensive experience doing business globally, with a focus on Asia, North and South America. He is fluent in Spanish and received his B.S. in International Studies from the University of Wisconsin-Madison.

Key Team Members

Alexander Sonn

Controls Software Engineer

David Gross

Simulation Engineer

William Harwood

Mechanical Engineer

Carl Chin

Electrical Engineer

Austin Williams

Sales & Business Development

Nikolai Syssoev

Mechanical Engineer

Peter Ciulla

Mechanical Engineer / Project Manager

Mark Yoshida

Mechanical Engineer

Jason Blair

Electrical Engineer

Herach Ayvazian

Mechanical Engineer

Notable Advisors & Investors

Bill Gross
Carl Sheldon

Investor, Former CEO of Abu Dhabi National Energy Company PJSC

Q&A with the Founder

  • Describe your two products.
    Both our products utilize our breakthrough lost-cost tracking technology. PV Booster is a rooftop tracking system for solar PV projects. The tracker takes a solar panel and keeps it pointed at the sun, which boosts panel energy output by 30% and improves project economics by 20%. Our tracker works with all major solar panel manufacturers. Baseload Solar uses our tracker to concentrate sunlight using mirrors to make high temperature solar energy. With our proprietary energy storage capabilities, we can then make solar generated electricity available 24 hours a day at a cost competitive with fossil fuels.
  • What is your business model?
    The PV Booster business model is to sell the rooftop and ground-mount trackers and their control system to solar project developers and installers focused on the commercial and industrial (C&I) rooftop segments. The model for Baseload Solar is to sell and/or license the technology to project developers, EPC (Engineering, Procurement and Construction) firms, and power plant operators
  • Please detail manufacturing for your two products.
    We have a global procurement strategy that targets the highest quality, lowest lead times, at the best price. That said, we launched manufacturing of PV Booster with a key supplier in Indiana, USA, which is known for its strong manufacturing base serving the auto industry. Some electronics and machined components are purchased from manufacturers in Asia. Components are brought together and assembled in a warehouse a few miles away from the project sites. For Baseload Solar, we currently have a Pasadena demo plant made with components from USA suppliers. We expect to leverage many of the same component vendors as used in PV Booster and are developing the final supply chain to accommodate our growing pipeline.
  • Please detail your IP.
    The IP for our tracker system rests in its proprietary physical design and tracker controls. The physical design of the tracker manages to be cost effective while also withstanding high wind loads. Notably, the design avoids using a gearbox, making the system more reliable, and reducing ongoing operations and maintenance costs. For PV Booster, additional unique IP rests in the fact that our tracker functions without an additional sensor to find the sun. In lieu of sensors, we use proprietary algorithms to direct the tracker towards the sun over the course of the day. For Baseload Solar we utilize a similar physical design to achieve high reliability and strength at a low cost. More importantly, we have developed significant IP in our software, which precisely controls the tracker and mirrors to reflect the sun to a central point. Competitors do this using heavy steel and precise machinery to withstand wind, which is very costly. Edisun does this via software, using a closed loop feedback system. This dramatically reduces the cost of each tracker. In addition to our tracking technology, Baseload Solar also has some additional innovations, such as our low-cost heat storage system. Competitors use molten salts heated above 500°C. These salts are corrosive and cannot be allowed to freeze. If the salts freeze, equipment damage can occur along with long periods of downtime. Instead of salt, we store heat using rocks, which are very low cost, safe, and can be sourced locally, anywhere in the world. Another innovation is how we convert the stored heat into electricity. Most competitors use a steam turbine, which is large, expensive, and uses a significant amount of specially treated water. We use an exclusively licensed heat engine that directly converts the heat stored in the rocks into electricity.
  • What are your plans to scale following the raise?
    Through our strategic development and construction partners that we on-boarded in 2017, we have a secured pipeline of PV Booster projects in various stages of development. Post-raise, we will continue to fulfill this pipeline, ramp up manufacturing of our trackers and increase the efficiency of our supply chain. At the same time, we are supporting our first international customer in China who is completing the construction of a Baseload Solar demo plant. China is a prime market for Baseload Solar because of strong government and regulatory support for this technology. As a result of the success of closing our first global customer in China, we are already evaluating similar partnerships in Mexico, Chile and Africa.
  • The Q&A with the Founder is based on due diligence activities conducted by SI Securities, LLC. The verbal and/or written responses transcribed above may have been modified to address grammatical, typographical, or factual errors, or by special request of the company to protect confidential information.

    Frequently Asked Questions

    About Side by Side Offerings
    What is Side by Side?

    A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.


    What is a Form C?

    The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.


    What is Rule 506(c) under Regulation D?

    Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.


    What is Reg CF?

    Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $1 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive shares, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.


    Making an Investment in Edisun Microgrids
    How does investing work?

    When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Edisun Microgrids. Once Edisun Microgrids accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Edisun Microgrids in exchange for your shares. At that point, you will be a proud owner in Edisun Microgrids.


    What will I need to complete my investment?

    To make an investment, you will need the following information readily available:

    1. Personal information such as your current address and phone number
    2. Employment and employer information
    3. Net worth and income information
    4. Social Security Number or government-issued identification
    5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

    If you are investing under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.


    How much can I invest?

    An investor is limited in the amount that he or she may invest in a Reg CF offering during any 12-month period:

    • If either the annual income or the net worth of the investor is less than $100,000, the investor is limited to the greater of $2,000 or 5% of the lesser of his or her annual income or net worth.
    • If the annual income and net worth of the investor are both greater than $100,000, the investor is limited to 10% of the lesser of his or her annual income or net worth, to a maximum of $100,000.

    Separately, Edisun Microgrids has set a minimum investment amount of US $0.

    Accredited investors investing $20,000 or over do not have investment limits.


    After My Investment
    What is my ongoing relationship with the Issuer?

    You are a partial owner of the company, you do own shares after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.

    In certain circumstances a company may terminate its ongoing reporting requirement if:

    1. The company becomes a fully-reporting registrant with the SEC
    2. The company has filed at least one annual report, but has no more than 300 shareholders of record
    3. The company has filed at least three annual reports, and has no more than $10 million in assets
    4. The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
    5. The company ceases to do business

    However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.


    How can I sell my shares in the future?

    Currently there is no market or liquidity for these shares. Right now Edisun Microgrids does not plan to list these shares on a national exchange or another secondary market. At some point Edisun Microgrids may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Edisun Microgrids either lists their shares on an exchange, is acquired, or goes bankrupt.


    How do I keep track of this investment?

    You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.


    Other General Questions
    What is this page about?

    This is Edisun Microgrids's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the Edisun Microgrids's Form C. The Form C includes important details about Edisun Microgrids's fundraise that you should review before investing.


    How can I (or the company) cancel my investment under Regulation CF?

    For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours before a closing occurs or an earlier date set by the company. You will be sent a reminder notification approximately five days before the closing or set date giving you an opportunity to cancel your investment if you had not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your shares have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, you may go to your portfolio page


    What if I change my mind about investing?

    If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. You will receive an email when the closing occurs and your shares have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page.