QS Energy, Inc. announced that it has received $0.343 million in funding
July 20, 2021
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On July 20, 2021, QS Energy, Inc. closed the transaction. The company issued convertible promissory notes for gross proceeds of $343,000. The notes issued have a face value of $377,300 at a discount of 9.091%. The company also issued warrants to purchase an aggregate of 9,432,500 shares of common stock.
QS Energy, Inc. develops and seeks to commercialize energy efficiency technologies that assist in improving the economics of oil transport and reducing greenhouse gas emissions. Its intellectual properties include a portfolio of domestic and international patents, a substantial portion of which have been developed in conjunction with and licensed by it from Temple University of Philadelphia, PA. Its primary technology is called Applied Oil Technology (AOT), a commercial-grade crude oil pipeline transportation flow-assurance product. AOT is engineered specifically to reduce pipeline pressure loss, increase pipeline flow rate and capacity, and reduce shippersâ reliance on diluents and drag reducing agents to meet pipeline maximum viscosity requirements. Its AOT crude oil viscosity reduction technology directly targets the heavy crude oil transportation industry, initially targeting the midstream crude oil pipeline operations which deliver high volumes of heavy crude oil to market.
QS ENERGY, INC. 
