Sky Energy 2024
- Type: Retail
- Total Round Size (min): AUD$100,000
- Total Round Size (max): AUD$500,000
- Price per share: AUD$0.25
Sky Energy 2024
After successfully raising with Equitise at the end of 2023, Sky Energy is conducting a smaller round in 2024. This will be offered under the same terms as 2023 and available to existing investors, friends and family.
Please ensure you read the updated Offer Document before investing.
Since their raise last year Sky Energy has doubled the size of their factory facility, allowing them to improve their manufacturing efficiency and meet the increasing demands for the SkyBox. Sales have increased thanks to new partnerships, bringing in more reoccurring revenue to the business.
- Fees Paid by Issuer: 6% of funds raised
- Cooling-Off Rights: 5 working days
- Minimum Parcel Size: $250
Offer Overview
Sky Energy started as a team of technicians who, through in-field experience, saw a glaring opportunity in the renewable energy market. From this, they created the SkyBox: a cost-efficient, easy-to-install, transportable energy product that permits homes and large scale commercial projects to abandon reliance on the electric grid and diesel generators in favour of renewable resources.
Key Documents
The SkyBox - Our Game Changing Technology
SkyBox is a scalable lithium battery management system that solves the biggest barriers to the uptake of renewable solutions.
Competing solutions are
- Difficult to install
- Require complex programming, and;
- Offer limited technical support
Compared to existing solutions, SkyBox is 90% faster to install, is pre-programmed (so any electrician can install it), and the designers and builders of the SkyBox serve as technical support team based in our Melbourne offices.
This simplification saves install costs, gives more people access to affordable clean energy and drives savings through access to cheaper, green power.
In commercial industries the SkyBox saves companies hundreds of thousands of dollars in diesel generator fuelling and maintenance all while going green.
We're here to make the global green revolution a win/win.
Investment Highlights
- SkyBox V2 Model
The new SkyBox V2 model also reduces the production time of our most popular product (SkyBox) from two days to one day. This significant time savings allows us to maintain our target gross profit of 40% and simultaneously offer more competitive pricing to the market. Reducing the cost of the SkyBox™ allows our wholesale partners to move the product through the market more efficiently, increasing SkyBox™ sales through 2024.
- A rapidly growing market
Globally, the renewable market is estimated to exceed 3.5 trillion by 2030. In Australia, the Government has pledged to cut emissions by 43% by 2030 and at the start of FY24 introduced a new carbon scheme, requiring industries to offset their emissions.
This industry and governmental pressure creates an enormous opportunity to grow our company while saving Aussie businesses money.
In the commercial construction space, our technology has proven to be more cost-effective than the current environmentally harmful status quo. This financial benefit provides a strong incentive that will support the adoption of our technology across the sector.
- Excess demand for our product
In FY23, we generated $8m in revenue and installed over 260 SkyBox systems across Australia. The demand for our product has grown exponentially across all channels over the last 12 months, and we are now generating over $800k in monthly revenue.
By June 2024, the number of installed SkyBoxes grew to 485 units, almost doubling the number in the field within twelve months.
After our previous raise, we expanded our current facilities, doubling in size, allowing us to increase our production capacity and revenue. We are raising capital to improve our ability to purchase stock to meet product demand and continue investing in game-changing technology development. - Capitalising on the opportunity in the commercial sector
The most significant opportunity lies in powering the construction sector. The SkyBox has completely taken large construction projects off-grid and saved these companies hundreds of thousands of dollars.
SkyBox is a crucial step in the future of renewables in agriculture, manufacturing, mining, and construction. These sectors spend millions annually fueling diesel generators for power, which is both environmentally harmful and expensive.
We've already helped complete multi-billion dollar infrastructure projects powered by clean energy for VicRoads in partnership with MRPV Major Roads Projects Victoria and international construction companies like MACA, BMD, and DECMIL.
Key Team Members
Samuel is one of the Co-Founders of Sky Energy Investments Pty Ltd. He is head of the day-to-day at Sky Energy, involved in all aspects of the business, from financial management oversight to product development and strategy — a qualified electrician with a background in business coaching, sales and marketing. With over a decade of business ownership and operation experience, he started installing solar panels ‘on the tools’ and has an intimate knowledge of the industry’s challenges. Sky Energy and the products we create directly result from that industry experience as an electrician in the field. Samuel has also worked as a qualified business coach, guiding and coaching sales teams with cumulative sales results in the tens of millions and is determined, through this experience, to grow Sky Energy into a global brand.
Ross Howard
Ross is a highly skilled technician and Co-Founder of Sky Energy who started as an electrician in the family business when he was 14. Ross is responsible for product development and business strategy, especially for technical applications with larger projects and product design. Ross has personally installed thousands of solar panels and batteries of every make and model. It was this experience that formed the basis of the creation of SkyBox. Ross and Sam have been friends since Grade 4 and had multiple businesses together through high school before completing their apprenticeships in renewables. After completing their apprenticeships, they worked briefly apart before teaming up again in 2014 to start an electrical company Melbourne Electric. Melbourne Electric exists to this day, and the experience running those companies formed the basis for the success of the growth of Sky Energy.
Hudson is primarily involved in C-Suite governance and accountability as well as advising on the companies strategic direction. Hudson has almost a decade of experience in Organisational Psychology and management consulting. For seven years he has worked with Deloitte and KPMG, leading large scale transformation projects within the gas and energy, financial services, and public sectors. As a psychologist and coach, Hudson has a keen interest in bringing the very best out of everyone he works with. He works closely with the board and senior leadership of Sky Energy team to bring clarity and conviction to the strategic directions taken. He brings a warmth and energy to all his meetings. As a primary shareholder he is driven to see continued growth in the commercial business across Australia specifically in the Mining and Agricultural sectors by by the end of 2024.
Financial Information
For further detail on historical financial performance see section 2.9 of the Offer Document.
Use of Funds
For further detail on Use of Funds see section 3.2 of the Offer Document.
Key Risks
The Company’s operating activities involve a series of cash inflows and outflows. Although the Company seeks to manage its cash flow efficiently, there is a risk that the Company may not have sufficient cash or working capital, at times, to fund both its operations and its expansion plans. This could affect the Company’s profitability, future prospects, and its ability to meet its business objectives.
If the Company does not maintain consistent levels of quality and service in its offering, the Company’s brand and reputation could be damaged. In an increasingly connected world, damage to a company’s brand and reputation can be catastrophic. The Company is acutely aware of this risk and is vigilant to ensure that it maintains a consistently high level of product quality and customer service.
The Company will build the business with the funds raised through this crowd-sourced funding offer. As an early stage business, the Company is subject to all of the risks associated with early stage companies, including uncertainty around the volume and origin of revenue streams, size and existence of repeat customers, and risks associated with evolving technology. In particular, the Company is not yet profitable and is yet to generate revenue through certain anticipated revenue streams. The commercial success of the business will depend on many factors including the Company’s ability to attract and retain quality staff and loyal customers
As an early stage business, the Company is susceptible to the loss of key team members as they are considered critical to the continued success of the Company. If a key team member was lost, due to illness for example, this could significantly affect the Company’s ability to continue its operations or achieve its business objectives as the case may be.