About the Business
Finis Energy Inc.
919 Centre St NW Suite 406
Calgary, AB, T2E 2P6
Finis Energy Inc. is an Alberta Corporation.
The principal of Finis Energy and inventor of the Finis Tile, Scott Carrington, has a solid history of innovation and business development/growth. He is founder/owner of DMS (Digital Management Systems), which was created in 2003, and is a profitable business with revenues averaging $1.2M per year since 2012. Finis has assembled an expert team of management and technical consultants to assist with early stage technology and business development. Finis is focused on developing partnerships with one or more experienced industry player(s) to provide the additional management expertise to commercialize and grow the Finis brand.
Scott Carrington owns 100% of Finis Energy Inc.
Description of Business
Finis Energy builds proprietary solar rooftop tiles that act as an economical, sustainably-focused and attractive alternative to traditional roofing materials. Their product is easy to install, snapping together in a waterproof seal that allows homeowners to cover their entire roof with solar and not just a small section. The Finis Roof is expected to last over 50 years and has a smart interface that monitors and continuously reports on the roof’s health.
They are distinguished in the market as being the only integrated solar roof that is truly modular and thus allows easy install, repair and upgradeability. It’s priced comparably to a conventional long-life roof with a standard rack-mounted solar system, but with the aesthetics and simplicity of an integrated system.
Finis Energy’s intended clients are not end consumers, but roofing distribution companies. They view this as a strategic advantage as these are the gatekeepers to the roofing industry. Since their solar shingles can be installed by anyone, there is no need for specialized installers, allowing them to scale at a much greater rate.
Use of the Funds
As Finis Energy finishes off it’s initial product testing, they are looking to build a showcase model house on a trailer and they are looking to raise $40,000.00 through their loan with ATB LendR to do so. There hope is that this will:
Leave a strong impression on roofing distributors with this mock up model house when they are able to approach them to start selling their product.
Allow them to pull the showcase model to events, festivals and tradeshows to raise product awareness and attract future investment.
Test out their finished product in a non laboratory setting.
Terms of LendR Loans
The loan will have a term of 2 years (24 months), beginning after the loan is successfully funded. Finis Energy Inc. will repay the principal plus 15% interest, calculated as a blended loan. Finis Energy Inc. will make monthly payments of 1/24 the total repayment amount. If Finis Energy Inc. chooses to repay the loan early, the principal plus the full interest remaining in the 24 month period must be paid.
Finis Energy Inc. has been in operation less than two years. There are financial, operational, and market risks for any young business. Some that apply specifically to this business include:
This Lending Profile does not contain a statement that, in a material respect and at the time and in light of the circumstances in which it is made, is misleading or untrue and it does not fail to state a fact that is required to be stated or that is necessary to make a statement not misleading.
Certified as of: November 24, 2017
By: Scott Carrington