MF Fire is a technology company built by fire scientists engineering the perfect burn. Our app-driven, ultra-clean wood stove is MIT-award winning technology innovating and changing a $6B market. Traditional wood stoves are dirty and inefficient. We re-imagined the wood stove as a clean energy source and created a smart stove that delivers the cleanest burn ever achieved: 20x cleaner than the new EPA regulations, 60x cleaner than the average stove, and producing less smoke than a single cigarette.
Our smart stove technology delivers a perfect burn every time. Users get ‘push-button’ simple, automated control via a Nest-like experience and smart app. Imagine remotely starting your fire on your last ski run, extending the burn time during a party or increasing the heat output to quickly break the chill. To complete the user experience, we add a 180° full fire viewing experience. You can control the burn at the touch of a button. Just set your room temperature and let the smart controller take over.
2014 MIT Clean Energy Prize, Grand Prize at the 2014 Wood Stove Design Challenge, Low Emissions Prize at the 2013 Wood Stove Design Challenge. Recently announced as the 2016 ICE Award recipient for Innovation. Featured in Smithsonian, National Geographic, Popular Mechanics, Fast Company, Wall Street Journal and the New York Times, among others.
Founded by two fire scientists with the strong combustion and engineering background necessary to maintain a technological advantage in this field. The founders recruited a CEO with 28 years of entrepreneurial and executive experience in bringing new technology solutions to market, culminating in several IPO and M&A events.
MF Fire has reached its current state of maturity with the assistance of three (3) non-dilutive funding events totaling $300,000 and one (1) non-dilutive investment of in kind services provided by the University of Maryland estimated at $100,000. The in kind services provided lab space and resources helpful in the commercialization of MF Fire technology. The total non-dilutive investments have allowed the company to advance past initial research and development, through in home beta tests and prepare for a commercial market launch.
The award-winning Catalyst™ is the world’s first smart, ultra-clean wood stove. We built the Catalyst around state-of-the-art combustion techniques and using a revolutionary smart controller that lets you control the burn from your smartphone. Catalyst uses standard cord wood to inexpensively heat a space of more than 2,000 sq. ft. With a durable steel construction, a convenient ash pan, and a classic soapstone top, Catalyst easily replaces any existing free standing stove and many fireplace inserts.
Traditional wood stoves are dirty, inefficient, and can be difficult to operate. Other home heating systems, like fuel oil, propane or natural gas, are expensive, non-renewable, or both. Catalyst was designed by fire scientists to outperform all of these: providing the natural heat of inexpensive and renewable wood without emitting health-harming emissions. Best of all – the Catalyst is made and assembled in the U.S.A.
During third-party laboratory testing, the Catalyst achieved 0.2 grams per hour of particulate emissions. This is more than 20 times lower than new, more stringent, EPA emissions regulations and less than half the smoke produced by a single cigarette. These emissions were enough to win the Catalyst the Low Emissions Prize at the 2013 Wood Stove Design Challenge and the 2014 Grand Prize, besting its prior performance.
Efficiency is important. That is why we designed the Catalyst to take full advantage of all the energy wood fuel has to offer. The Catalyst uses intelligent controls and advanced heat recovery systems to efficiently burn all of the wood, thus creating an ultra-clean burn. The Catalyst’s efficient combustion process releases 30% less CO2 than a traditional wood stove.
The Catalyst makes use of a revolutionary intelligent control system to optimize combustion and improve user experience all controlled from your smart phone (or a provided remote controller). As a result, the Catalyst is easy to start, easy to maintain, and burns clean without user intervention. Most importantly, the same control system that helps you talk to your Catalyst, helps your Catalyst talk to you: providing real-time insight into your burn to help you live a sustainable and natural lifestyle.
Imagine remotely starting your fire on your last ski run, extending the burn time during a party or increasing the heat output to quickly break the chill. You can control the burn at the touch of a button. Just set your room temperature and let the smart controller take over.
The fireplace isn’t about the fireplace, it’s about the fire. The Catalyst was designed with this in mind. The full fire bay window allows you to see the entire flame with a 180 degree viewing angle while air-shield airflow minimizes soot accumulation on the window, so your view stays clean and crisp for as long as possible.
Fire has been the catalyst of human progress since Prometheus stole it from the gods.
In 2012, the wood energy industry had a problem with fire. The EPA had developed a new series of emission regulations that threatened to eliminate all but six wood stoves from the market. Yet, environmentalists in the industry knew that wood heat was something worth saving. It’s renewable, it’s local, and it harnesses an element at the center of the human story--fire.
Enter Taylor Myers and Ryan Fisher, Graduate student fire protection engineers. Taylor and Ryan were used to solving problems with fire. When they were approached by a professor working with the wood energy industry to develop a clean, efficient “next generation wood stove” that maximized the benefits of a roaring fire while minimizing the costs, they accepted the challenge.
At the 2013 Wood Stove Decathlon, Taylor and Ryan discovered that not only had they developed a clean and efficient wood stove, but they had developed the cleanest and most efficient wood stove ever tested. These student engineers used their ingenuity and love for problem solving to surpass every major manufacturer in the industry. The Catalyst stove not only solves the environmental problems of heating with wood, but also uses smart control technology to bring wood energy bursting into the 21st century.
Encouraged by the joint enthusiasm of environmentalists and techies alike, Taylor and Ryan knew they had to bring the Catalyst to market. They teamed up with 28-year business veteran Paul LaPorte to develop a commercial model of the stove and are taking pre-orders for the first run of units coming this summer.
The Catalyst is truly the beginning of a new era of wood energy. It’s renewable, it’s clean, and it’s beautiful. It provides all the benefits of a roaring fire, without any of the environmental cost. Thanks to a little creative thinking, Taylor, Ryan, and Paul engineered a way to keep the wood energy industry alive--they engineered the perfect burn.
Frequently Asked Questions
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.
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 (a copy of which may be found below) before making any investment decision.
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 MF Fire. Once MF Fire accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to MF Fire in exchange for your shares. At that point, you will be a proud owner in MF Fire.
Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.
A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.
To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.
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, MF Fire has set a minimum investment amount of US $0.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or government-issued identification
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
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.
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:
- The company becomes a fully-reporting registrant with the SEC
- The company has filed at least one annual report, but has no more than 300 shareholders of record
- The company has filed at least three annual reports, and has no more than $10 million in assets
- The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
- 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.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. In addition to monthly account statements, you may also receive periodic updates from the company about their business.
Securities purchased through a Reg CF offering are not freely transferable for one year after the date of purchase, except in the case where they are transferred:
- To the company who sold the securities
- To an accredited investor
- As part of an offering registered with the SEC (think IPO)
- To a member of the family of the purchaser or the equivalent, to a trust controlled by the purchaser, to a trust created for the benefit of a member of the family of the purchaser, or in connection with the death or divorce of the purchaser
Regardless, after the one year holding period has expired, you should not plan on being able to readily transfer and/or sell your security. Currently there is no market or liquidity for these shares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company 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 the company either lists their shares on an exchange, is acquired, or goes bankrupt.