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Sep 12, 2016 2:00 EST

Crowdability: MF Fire – Ultra-clean wood stove

iCrowdNewswire - Sep 12, 2016

MF Fire

Ultra-clean wood stove

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COMPANY INFORMATION

Website:

http://mffire.com/

Sector:

Consumer Electronics, Home Furnishings & Accessories

Location:

Hyattsville, MD

This is a Title III deal, which means that all investors — regardless of net worth or income — can invest.MF Fire is an ultra-clean wood stove. It’s app-driven, and it’s engineered for the perfect burn.

Targeting a $6 billion market, the company is founded by two fire scientists, and has won many awards including the 2014 MIT Clean Energy Prize, and Grand Prize at the 2014 Wood Stove Design Challenge.

PROBLEM/SOLUTION
Traditional wood stoves are dirty and inefficient. MF Fire has re-imagined the wood stove as a clean energy source and created a smart stove that delivers the cleanest burn ever achieved:

Its device is 20x cleaner than the new EPA regulations, 60x cleaner than the average stove, and produces less smoke than a single cigarette.

Its smart stove technology delivers a perfect burn every time. Users get ‘push-button’ simple, automated control via a Nest-like experience and smart app.

As the company says: “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, the device has 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.”

AWARDS AND RECOGNITION
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.

The company was founded by two fire scientists with strong combustion and engineering backgrounds. The founders recruited a CEO with nearly 3 decades of entrepreneurial and executive experience in bringing new technology solutions to market, resulting in several IPO and M&A transactions.

MF Fire has reached its current status with the assistance of three non-dilutive grants totaling $300,000 and one 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 to prepare for a commercial market launch. Its sales pipeline is estimated at $3,000,000

FOUNDING STORY
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. They had surpassed 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 decided 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 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.

TEAM BACKGROUND

Ryan Fisher – COO, Co-founder

Ryan Fisher brings experience to the team as a risk-assessment fire protection engineer. He used his engineering expertise to perfect the design of the Catalyst and ensure its market viability.

He earned his Bachelors and Masters of Science in Fire Protection Engineering from the University of Maryland.

Paul Laporte – CEO

Paul brings 28 years of high-growth technology leadership to MF Fire.

Previously, he founded and led several venture and angel-backed start-ups, including Fusion Smartband, LoyaltyWorks, and RegistrationSite.

Prior to that, he was COO at ClearPath Immigration, VP of Marketing at Evergreen Assurance, and Global Manager for SaaS Solutions at Proofpoint.

Paul received a B.S. in Engineering from MIT, and an MBA from Georgetown University.

Taylor Myers – CTO, Co-founder

Taylor brings combustion expertise to MF Fire.

He co-led the development of the Catalyst, using his combustion expertise to maximize efficiency and minimize emissions.

Taylor has a Bachelors and Masters of Science in Fire Protection Engineering from the University of Maryland, and is a Ph.D. candidate in Mechanical Engineering,

He was was named a 2014 Maryland Innovator of the Year.

Taylor Myers – CTO, Co-founder

Taylor Myers is Chief Technical Officer and brings exceptional combustion expertise to MF Fire. The technological wonk of the team, Taylor co-led the development of the Catalyst, using his combustion expertise to maximize efficiency and minimize emissions. A Ph.D. candidate in Mechanical Engineering, Taylor has a Bachelors and Masters of Science in Fire Protection Engineering from the University of Maryland. Taylor was named a 2014 Maryland Innovator of the Year.

Ryan Fisher – COO, Co-founder

Ryan Fisher is Chief Operating Officer and brings real-world experience to the team as a risk-assessment fire protection engineer. Ryan used his engineering expertise to perfect the design of the Catalyst and ensure its market viability. He is excited to combine his passion for environmental technology with his entrepreneurial experience. Ryan has a Bachelors and Masters of Science in Fire Protection Engineering from the University of Maryland.

Paul Laporte – CEO

Paul LaPorte is Chief Executive Officer and brings 28 years of high growth technology leadership to MF Fire. Paul excels at establishing new firms as thought and market leaders. Paul founded and led several venture and angel backed startups, including Fusion Smartband, LoyaltyWorks, and RegistrationSite. Previously, he was COO at ClearPath Immigration, VP of Marketing at Evergreen Assurance and Global Manager for SaaS Solutions at Proofpoint. Paul received a B.S. in Engineering from MIT and a MBA from Georgetown.

CO-INVESTORS

Maryland Innovation Initiative

This fund fosters the transition of promising university technologies to the commercial market

Technology Commercialization Fund

Technology Commercialization Fund (TCF) provides up to $225,000 to support projects that advance a technology toward commercialization. TCF helps companies to reach a critical milestone in their product (or service) development that will move their technology further along the commercialization pathway, increase the company’s valuation, and lead to follow-on investment for further growth and sustainability.

TEDCO

Maryland’s lead source for entrepreneurial business assistance and seed funding.

Contact Information:

Ryan Fisher - COO, Co-founder

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