- FuelGems, an Austin, Texas-based GreenTech startup, raised $928,690 in funding
- The fundraising carried out through Wefunder, with primary investment from Austin-based venture capital fund and startup accelerator Sputnik ATX
- FuelGems is advancing a fuel additive that also uses nanoparticles to transform the operation of diesel and gasoline-powered engines
- The company’s additive is cost-effective, adding just 2 cents onto the cost of a gallon of gasoline, and requires only a microdose of 1-5 grams for 260 gallons of fue
- The company forecasts $400+ million revenue by year 6 of operations, thanks to widespread public concern about the impact of vehicle fumes on climate change and public health
- Sputnik invested $50,000 in FuelGems before the Wefunder got underway, and then added another $35,000 during the course of the Wefunder
