Liquid Piston

About the offering

LiquidPiston Company Summary LiquidPiston is a deep-tech engine company that has developed a patented rotary engine based on its proprietary High Efficiency Hybrid Cycle (HEHC)—a new thermodynamic cycle combining the advantages of Diesel, Otto, and Atkinson cycles to achieve higher compression ratio, constant-volume combustion, and over-expansion. The patented X-Engine has only 2 primary moving parts, is extremely compact and lightweight, and solves the historical challenges of the Wankel rotary engine (cooling, sealing, lubrication, emissions, efficiency). The technology is protected by 110+ patents and backed by approximately $65M in US Department of Defense contracts including a $35M US Air Force STRATFI contract for hybrid power systems and eVTOL applications. The engine runs on multiple fuels including diesel, jet fuel, biofuels, propane, and hydrogen. The company has raised $50M+ from nearly 20,000 investors across 6 prior crowdfunding campaigns (including a Reg CF round that oversubscribed in 9 hours) plus $65M in government contracts, totaling $115M+ in capital and contracts. The current StartEngine campaign offers Common Stock at $13.50/share at a $297.35M valuation, targeting $1M-$5M, with $132,740 raised from 59 investors. The company is advancing toward commercialization and licensing across defense, aerospace, and industrial markets, and is pursuing up to $7M in matching non-dilutive Army SBIR CATALYST funding. The Problem Traditional internal combustion engines haven't fundamentally changed in over a century—they remain heavy, inefficient, and complex. Emerging technologies including electric vehicles, urban aircraft (eVTOL), drones (UAS), and portable military power systems require efficient power delivered in far more compact packages than current engines can provide. Defense applications need multi-fuel capability (running on whatever fuel is available in the field), extreme power density (maximum output in minimum size/weight), and reliability with minimal moving parts. The $400B internal combustion engine market is ripe for disruption as applications demand power solutions that traditional piston engines and even electric batteries cannot optimally serve—particularly where energy density, multi-fuel flexibility, and extreme compactness are required simultaneously. The Solution LiquidPiston's X-Engine is built on the patented HEHC thermodynamic cycle, which achieves higher efficiency than conventional engines through high compression ratio, constant-volume combustion, and over-expansion—combining the best thermodynamic properties of Diesel, Otto, and Atkinson cycles into a single engine architecture. The rotary design has only 2 primary moving parts (versus dozens in traditional piston engines), making it extremely compact, lightweight, and mechanically simple. The X-Engine overcomes the well-documented limitations of the Wankel rotary engine (poor sealing, inefficient combustion, high emissions, cooling challenges) through a fundamentally different rotor geometry and combustion approach. The engine's multi-fuel capability (diesel, jet fuel, biofuels, propane, hydrogen) is critical for defense applications where fuel flexibility is a tactical requirement. Current development programs include hybrid power systems for eVTOL aircraft ($35M USAF STRATFI contract), hybrid propulsion for unmanned aerial systems (UAS), and a 10kW micro-grid capable portable generator that is 67% smaller and lighter than currently fielded military power units. The company is also advancing through the Army SBIR CATALYST program toward field demonstration, with potential for up to $7M in matching non-dilutive government R&D funding. Business Model LiquidPiston's commercialization strategy centers on licensing its patented engine platform across defense, aerospace, and industrial markets. The $400B addressable market spans portable military power, UAS/drone propulsion, eVTOL hybrid systems, industrial generators, marine propulsion, and potentially automotive applications. Revenue is expected from direct government contracts (currently $65M awarded), licensing fees from OEM manufacturers integrating the engine platform into their systems, and potential direct sales of engine units. The company has expanded its headquarters and doubled testing capacity in preparation for commercial adoption. Traction $65M in US Department of Defense contracts, including a $35M USAF STRATFI contract (secured since last raise in 2024) to expand into hybrid power systems and eVTOL. Advancing through the Army SBIR CATALYST program with potential for up to $7M in matching non-dilutive funding. $50M+ raised from nearly 20,000 investors across 6 prior crowdfunding campaigns. Prior Reg CF round oversubscribed in just 9 hours. DARPA development programs completed. Multiple SBIR and OTA contracts awarded. Expanded headquarters and doubled testing capacity. Significant progress in hybrid propulsion for UAS and hybrid/smart portable generators. Development of a 10kW portable generator that is 67% smaller and lighter than current military units. 110+ patents granted and pending protecting the engine platform and HEHC cycle. The team includes 7 PhDs. The current campaign has raised $132,740 from 59 investors and received the "Most Momentum" badge. Previously crowdfunded $51.15M total. No commercial sales revenue was disclosed—the company is in the pre-commercialization/industrialization phase funded by government R&D contracts. Team President, CEO, Treasurer, Secretary, and Board Member Alexander Shkolnik holds a PhD in Computer Science/AI from MIT. He has a technical focus on leading teams in modeling dynamic systems, optimization, and controls, holds 70+ patents, has authored 30+ conference and journal papers, and has served as Principal Investigator on $20M+ in government R&D programs. VP, CTO, Co-Founder, and Board Member Nikolay Shkolnik (Alexander's father) holds a PhD in Physics from the University of Connecticut. He is a former Clean Energy Program Director at GEN3, received the Motorola Award for Creativity, holds 80+ patents spanning engines, fuel cells, supercapacitors, and other fields, and is a TRIZ (systematic innovation methodology) specialist. SVP of Corporate Development and Board Member Per Suneby holds an MBA from Harvard and a BASc in Electrical Engineering from the University of British Columbia. He is a seasoned cleantech startup executive, former venture capital executive in residence, and New England Clean Energy Fellow.

FAQ