TROUTMAN — Flux Hybrids, a vehicle conversion technology company, has filed an update with the SEC to disclose $467,000 in debt and securities raised. The company is seeking another $833,000 for a total raise of $1.3 million.
Flux Hybrid’s technology is a conversion kit that allows any car to become a hybrid electric vehicle. The company offers both hybrid electric vehicle kits (HEV) and an option that includes an all-electric driving mode complete with the ability to charge (PHEV kit). It also offers installation of the technology for commercial or private vehicles.
Flux was started as a senior design project for NC State’s Engineering Entrepreneurship Program involving the co-founders Cody Biederman, Clay Dowdy, and CEO Micah Ulrich. The team participated in the Techstars Alabama EnergyTech cohort in 2021 and won an NC SEED grant in the fall of that year.
The company last reported seed round funding of $122,000 in November of last year. This most recent filing is an amendment to last fall’s and increases the offering amount by nearly a million dollars.
The company was incorporated in 2020 and is headquartered in Troutman, NC, about 35 miles north of Charlotte.