Green Fortress Engineering
Green Fortress Engineering Inc. (GFE) is a leader in the design and development of next-generation Hydrogen Storage solutions that allow for hydrogen storage in silicon to act as new-age batteries. While this was revolutionary and offered high-impact potential, it required significant beginning capital to get started.
GFE needed business organization, to develop beachhead market verticals, market research to help with go-to-market strategies, as well as a funding strategy, investor research, as well as a funding strategy and campaign guidance.
GFE contracted Argona early in its lifecycle to help develop new product verticals utilizing the unique intellectual property of the company. Argona served as head of product innovation and risk management in a fractional capacity. The Argona team assisted with new designs for products, go-to-market strategies, Pro Forma, business plan development to NSF SBIR standards, and business development for LOI’s for future purchase.
In terms of its funding strategy, GFE was primarily looking for funding research and connections to the Asian and European markets. They also considered an Initial Coin Offering backed by hydrogen supplies to fund the company. Argona advised that looking at foreign investors would pull more traction necessary for domestic investors to be interested at a higher valuation and raise.
Argona extensively researched 150 regional international firms for GFE and then vetted and narrowed the list to the 25 most promising capital firms. Argona was able to approach and make direct connections with the top 3 firms. Argona then brokered a meeting between GFE and the firm that ultimately invested.
GFE successfully raised a $3.1M investment. Argona's assistance accelerated the process and Argona's early work helped GFE secure the deal.