For issuers

Raise from people who can check what you told them

Two conditions, and they are not negotiable. An independent assessment sets your technology readiness level, and it decides what you may sell. Capital is released against milestones certified by somebody with no stake in the release. In exchange you get investors who will fund a first-of-a-kind at a stage where a term sheet would price it as a lottery ticket.

Registration is three steps, and the AI assistant can fill them in from a document you upload. The console then opens on the company you registered, with one project, no score and nothing it may sell, which is where every issuer starts. The invented issuers are still in the switcher if you would rather see a raise already in progress.

What you give up

The score is not yours

This is the trade, stated plainly. Every platform that lets an issuer describe its own maturity produces pages that all sound the same, and an investor cannot tell a validated component from a slide.

You submit evidence. Somebody else scores it.

You file the witnessed test report, the docket entry, the executed supply contract. A reviewer weighs each source, a model proposes a score with a confidence band, and a named engineer with a credential signs the result. The band is published as well as the number, so thin evidence shows up as a wide band rather than a quiet number.

What filing evidence looks like

You do not get the raise at close.

Committed capital goes to an escrow agent and reaches you one tranche at a time, each against a milestone certified independently. It is slower and it is more work. It is also why an investor will write a check against a reactor that has not been built, because their exposure is bounded by what you have actually demonstrated.

What a release schedule looks like

The ladder

What each TRL lets you sell

The rule an issuer most wants to argue with, so it is published rather than applied quietly. A fixed obligation on a technology that has never run in its operating environment is the specific failure this exists to prevent.

TRL bands, the instrument permitted at each, the share of capital released, and the evidence required to verify it.
Band	Stage	Instrument permitted	Release	Verified by
TRL 1–3Tier I	Concept formulated; lab proof of principle	SAFE or Convertible note	15%	Peer-reviewed publication; DOE award letter
TRL 4–5Tier I	Component validated in a relevant environment	Convertible note	30%	Independent test report; national lab result
TRL 6Tier I	Prototype demonstrated in a relevant environment	Preferred equity	50%	Third-party witness test; NRC pre-application docket
TRL 7Tier II	System prototype in an operational environment	Senior note	70%	NRC construction permit; supplier contracts executed
TRL 8Tier II	System complete and qualified; first unit built	Fixed-rate note or Municipal mini-bond	90%	ITAAC closure; operating license issued
TRL 9Tier II	Proven in commercial operation	Revenue share or Fixed-rate note or Municipal mini-bond	100%	Commercial operation date certificate; metered output

Rails

Which exemption fits the raise

Each is a different trade between how much you can raise, who is allowed to invest, and what you owe them for years afterwards. The last column is the part issuers underestimate.

Regulation Crowdfunding
Ceiling
$5M / 12 mo
Who can buy
All investors, subject to individual caps
Resale
Restricted 12 months
Best fit
Developer and supplier seed rounds
Regulation A+ Tier 2
Ceiling
$75M / 12 mo
Who can buy
All investors, 10% of income or net worth
Resale
Freely tradable
Best fit
Flagship project vehicles
Regulation D, Rule 506(c)
Accreditation verified
Ceiling
Unlimited
Who can buy
Verified accredited investors only
Resale
Restricted
Best fit
Institutional co-investment tranche
Rule 147A intrastate
Ceiling
Set by state limits
Who can buy
Residents of a single state
Resale
Governed by state rules
Best fit
Host community tranche
Municipal securities, Section 3(a)(2)
Ceiling
Unlimited
Who can buy
All investors
Resale
Freely tradable
Best fit
Public power offtaker

The full comparison covers filing obligations, ongoing reporting and the intrastate residency test.

The console

Four things you do here

Three of them end in somebody else's queue. That is not friction for its own sake; it is the entire reason an investor treats a number on this platform differently from a number on a pitch deck.

Draft an offering
Pick the project, and the published score decides which instruments are on the table. Set the terms, see what each tranche is worth against your own raise, and file it to a reviewer.
Draft one
Submit TRL evidence
A citation, a date, the passage that carries the claim, and the document itself if you have it. It goes to a reviewer, and the excerpt appears verbatim next to the weight it was given.
File evidence
Request certification
Say a milestone is met and point the certifier at the artifacts. They sign or they decline; the escrow agent acts on the signature and not on your say-so.
See the schedule
Post an update
The one thing here nobody reviews first, and a condition of the exemption under Reg CF and Reg A rather than a courtesy to your cap table.
Write one

Demo

What is not built on the issuer side

There is no diligence workflow, no fee schedule and nothing that checks a company is real, and the reviewer who reads what you file is you, in the other console, in the same browser. An offering you get qualified does open in the public catalog, marked as yours and carrying only what you filed. What the console shows is the shape of each request and whose desk it lands on, which is the part that determines whether any of this is worth an investor’s trust.