Diligence memo · auto-generated · as of July 2, 2026
Instream Energy Systems Corp.
Instream Energy Systems Corp. looks under-valued against its niche peers and is at-risk on financing cadence.
Businessfiled
Instream Energy Systems Corp. operates in Energy / Climate, based in VANCOUVER.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Instream Energy Systems Corp. has raised $4.7M in disclosed capital across 10 recorded rounds, aggregated from public filings. Its latest round is modeled as Seed (a $1.0M–$4.0M round).
Largest single filing: $1.1M on 2013-04-30.
Most recent recorded round closed around 2023-09-08.
Valuation (modeled)modeled
Provath models Instream Energy Systems Corp. at approximately $2.0M (range $335K–$6.6M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.27× the median modeled value of Seed Energy / Climate companies in 2022–2024 (23 peers) — value vs value, same stage and era. Issuer reports $0–$1M revenue while modeled below niche peers.
Financing rhythm & timingmixed
Historic cadence: a new round about every 15 months.
Last raise 2.8 yr ago; this sector typically re-raises about every 11 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 1.0× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 51% of Energy / Climate peers (235 compared).
Modeled value ranks above 19% of those peers.
Closest niche peers: Sintana Energy Inc., PSCP Power, LLC, Energy Can Move Things Ltd Liability Co, Faradyne Power System Corp., Wild Energy, Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.