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Primo Energy

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Primo Wind, Inc.

Industrial & Manufacturing · San Diego, CA · Founded 2012

Primo Wind designs and builds hybrid energy platforms that combine wind, solar, and battery storage. Our products are easily erected and can be fitted with lights, USB charging, WIFI extension, AC power, and more integrated into the system. Distributed power can provide energy for remote locations, island territories, disaster relief, and even power blackouts. Other products are designed for community gathering places like parks and universities, and we also have a STEM teaching tool for 4th-12th grades.

Post-money valuation ⓘ
$25.0M
As of Mar 2022 · from Reg CF Offering (2021) · pre-money + amount raised, not a traded price
Total raised
$1,781,129
Crowd $211K · Private $1.6M · 3 rounds since 2018
Latest share price
$2.19
Reg CF · Common Stock · Nov 2021 offering price

Financials

FY2017–FY2021 · from SEC filings · hover any figure for its source
$7K
−$636K
2017
$114K
−$844K
2018
$73K
−$1.1M
2019
$86K
−$489K
2020
−$37K
−$470K
2021
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2017 reviewed*
FY2018
FY2019 audited*
FY2020 reviewed
FY2021
Income statement
Revenue
$7,400
$114,405
$73,337
$85,614
-$37,299
Cost of goods sold
$27,575
$181,370
$235,816
$150,449
$65,935
Gross margin
-273%
-59%
-222%
-76%
—
Net income
-$636,157
-$843,673
-$1,066,070
-$489,238
-$470,099
Taxes paid
$0
$0
$0
$0
$0
Balance sheet
Cash
$184
$21,209
$558,779
$92,277
$1,757
Accounts receivable
$0
$77,400
$423,847
$347,539
$100,847
Total assets
$63,161
$206,572
$1,108,092
$148,620
$261,798
Short-term debt
$139,193
$393,777
$839,923
$339,226
$333,224
Long-term debt
$0
$0
$2,410,964
$1,950,100
$2,212,081
Total liabilities
$139,193
$393,777
$3,250,887
$2,289,326
$2,545,305
Other
Headcount
5
5
—
10
4

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$25.0M
pre-money
Reg CF · Common · Nov 2021

Blue bars are the pre-money valuation the company stated for a priced round.

Cap table

Principal holders% as the filing states it, Apr 29, 2022

  • Jerry Taylor Lang17.7%of company
  • Edward McMahon14.3%of company
  • William Fitzmaurice13.9%of company
  • Randall Vecchion11.8%of company

Sold to the crowd

From the company's SEC filings: share counts per class, each class's voting and conversion terms, and the holders of 20% or more that Form C requires (officers and 10%+ holders on Form 1-A). Filings name only large holders, so most owners — including crowd investors — are not listed, and a holder's percentage may be of its own class rather than of the whole company. Prices and crowd share counts are in today's share terms — adjusted for splits and conversions since they were sold. Hover a figure for its filing.

Fundraising history

Raised $70.8K / $1.1MInvestors 84Post-money $25M
Raised $1.6MInvestors 13
Reg CF · Convertible Note · May 2018Closedvia FIRST DEMOCRACY VC
Raised $140.3K / $500K

Team

8 people
Ned McMahonFounder
CEO & Director

Ned studied engineering at Texas A&M. With a 30 year career in composites Ned founded Malama Composites - innovated rigid PU foam made with non-toxic plant based chemistry.

Edward McMahon
CEO, Principal Executive Officer and Director, Principal Financial Officer and Principal Accounting Officer
Josh Franklin
COO & Director

Josh worked for one of the 10 largest utilities in the United States and in many functions including corporate controller, investor relations, regulatory compliance and renewable energy development /finance. Josh has been responsible for the development of over 1,000 MW of wind and solar generation. He holds an undergraduate degree in Information and Decision Sciences and an MBA in Finance, both from the University of Illinois.

Venkat Shastri
Chief Engineer & Director

PhD in Electrical and Computer Engineering from the University of Massachusetts. A Research Scientist at Yale University and Consulting Professor at Stanford. De Sanctis Professor of Engineering and Entrepreneurship, Director of Industry Partnership

Christinia Marc
Administration Manager, Secretary, Treasurer, and Director

Christinia was raised in San Diego, she worked in the medical insurance field for most of her career. In 2014 Christinia joined Primo Energy to be more involved with Renewable Energy and Disaster Relief.

Colton Landaiche
Mechanical Engineer

Colton is a fourth-year undergraduate studying Integrated Engineering: Sustainability at the University of San Diego, where he will be completing his BS/BA in May 2022. Passionate about environmental conservation, he chose to work in solar and wind to improve local green energy infrastructure to ultimately reduce reliance on fossil fuels.

Will Thomas
Warehouse Manager

Born and raised in San Diego after high school he spent 16 years in the MidWest, where he worked construction jobs. Will moved back to San Diego 2018 with his son and is now working for Primo Energy where he is the Warehouse Manager.

Jerry Lang
Director

Jerry Lang grew up in San Diego and went to high school and university locally. He was early in the tech world. He ran a compact disc manufacturing facility in Asia. He became an owner of the company which was later sold. Jerry now is an independent investor.

Names and titles as disclosed on StartEngine, SEC Form C. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Not requiredFiled Form C-TR (terminated reporting)

Filed 2 of 8 annual reports (FY2018–FY2025)

84 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

  • Form C-ARApr 29, 20220001736304-22-000001
    EDGAR
  • Form C-UMar 11, 20220001665160-22-000421
    EDGAR
  • Form C/AJan 25, 20220001665160-22-000149
    EDGAR
  • Form CNov 12, 20210001665160-21-002002
    EDGAR
  • Form C-WNov 12, 20210001665160-21-002005
    EDGAR
  • Form C-WNov 12, 20210001665160-21-002004
    EDGAR
  • Form CNov 12, 20210001665160-21-001995
    EDGAR
  • Form CNov 10, 20210001665160-21-001991
    EDGAR
Source: ManualCIK 0001736304DEShare price $2.19

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.