TitanLabs Clean Cash Machine

Kills germs in a second saves cash forever.

Facebook Twitter LinkedIn

Company Summary: US Paper money is made primarily of cotton and linen and has proven to be a good host for many pathogens including the virus that causes COVID-19. The Clean Cash machine uses UVC light at 275nm to kill the novel corona virus and many other pathogens that can live on US Paper Money. When used in a retail setting at the point of sale between the customer and the casher the machine can protect employees, provide CLEAN CASH to customers and save on credit card processing fees by enabling management to safely Implement more cash friendly policies.

 Product Market Fit: We have done 6 famers market “Clean your cash for free” demos and 4 instore (2 Corner Markets, 1 coffee shop and 1 restraint) 2-6 hour demos using having real customers interacting with the device.

What we leaned:
 1) It needs to be clear and intuitive for the cashier and the customer how to use the device.
 2) Needs to not fail or jam or if it does jam there is a quick and e-z way to recover in less than 5 seconds.

During my Demo at the Back Yard Brew in Palo Alto I had a friend who is a frequent customer there and he texted me a few days after the demo “So (for) at least 3 people I saw the concept stuck with them and they made a change to their daily routine to remember to bring cash.

Market Analysis: Total addressable market: The Potential market is -HUGE- like the entire universe of brick and mortar rental (If it has a POS that accepts cash we want to market to them). According to the Federal Reserve if we eliminate things like e-commerce and big ticket items like Cars and furniture retail sales in the US in 2019 was ~ 4.0 Trillion dollars of that ~$38 Billon was spent on credit card processing. If the clean cash machine diverted 10% of that to cash that is $3.8 billon. If we split this savings with the customer we get a possible market of %1.89 Billon.
 Initial Targeted Market - If we are only inclusive of: -Grocery-Pharmacy-Big Box-Gas Stations-Gift-Convenience the bottom line # falls to 1.1 Billon.
 And this does not account for benefits like:
 -Improved employee wellness and relations
 -Customer differentiation
 -Ability to remove restrictions on cash that my disadvantage low income underbanked customers- Could seek nonprofit grants to pay for units in disadvantaged neighbor hoods

Check cashing, Casinos, and small banks are all possible next stage targets not included above.

Product or Service Stage of Development: The project has a Technology Readiness Level of ~6.0 I have a fully functional prototype but not in a final form. Printed Circuit Boards need to be designed and some impuvmnts to the motor mounting / drive system for manufacturability and reliability are needed. As fare as it’s effectiveness at killing the SARS-CoV-2 (virus that causes COVID19) we can say that according to published reports 10mJ/cm^2 is enough energy to kill (inactivate) the SARS-CoV-2 VIRUS on surfaces. We are presently irradiating both sides of the bill with 10 to 15mJ/cm^2 on the bill so we should be able to kill the virus but The conditions of the benchmark test detailed on the web site where comparable but different from the way our system works so more testing is needed to be able to make definitive statement on its lethality to SARS-CoV-2 https://www.cleancashmachine.com/fighting-covid-19.
To that end we have also partnered with the biology / global security arm of LLNL (they have a BSL3 lab and expertise to directly experiment with SARS-CoV-2) to apply for a NSF SBIR grant. 1/3 $77K of the grant (if we win it) will go to LLNL to test the CCM’s ability to neutralize the COVID viras and E.coli bacteria on cash. The rest of the 233K grant would go to developing a production version of the CCM making Bata models and a high speed prototype performing A/B Testing to belter quantify public demand.
Gran award announcement expected any time in the next 60 days.

. Intellectual property: We have filed a provisional patent which we are in the process of converting to a full utility patent.
 We have had discussions with Cassida abought integrating some of their tech but those talks are still in the early stages.

Competitive Differentiation. Solving problems with simple often out of the box solutions is what Titan Labs dose. Since the early days of the coved 19 pandemic we have been focusing on the problem of dirty cash and refining our solution. The current UCV LED iteration of the clean cash machine is the result of that work. Currently there are no Point Of Sale cash disinfecting devices on the market. The CCM would be patent protected, compact, effective, fast attractive and reliable. There is a competitor Clean Cash by sani cash https://www.startengine.com/cleancash. There POS unit dose more, it deals with coin change and credit cards but according to all that I have seen they do not have a working prototype just some really good photo realistic renderings also it appears:
• They only clean the cash on one side
• They have Only 8 small LED’s spread out over the 6” x 2.6” bill even if thay have the highest power UVC LED’s (100mw) on the market It will not give you enough energy to clean the bill in the short time frame that the retail environment would demand + there will be low intensity zones between the diodes and on the edges. By comparison TitanLabs CCM has 2 arrays (one on top one on bottom) containing 28 50 mw UVC LED’s are concentrated in a 1.8” x 2.8” kill zone that the bill is translated over so every part of the bill is exposed to a full dose of UVC light during a 1 second or less transit of the kill zone.
• The sani cash bill moving system also has lots of moving parts. By my count the bill moving system needs 4 motor stage combinations and a vacuum system with on off control to pick up and releas the bill from each station. Our system consist of 1 motor and 2 sets of bill moving wheels connected with s timing bet. Care has been taken through multiple iterations in the design of the slide deck to insure there are no corners or edges that can catch the beam as it transits through.
• In all my interactions with customers there #1 POS health concern is paper money. Nicolas Schatz The head of E-Comers at Cassida (A cash processing equipment manufacturer) told me that there #1 seller was InstaCheck and it simply says whether a bill is counterfeit or not. So some times it pays to KISS.

Company Founders, Management Team and/or Advisor Profile: 

David Scott Andrews – CEO
 Scott is a technician with the mind and abilities (developed with experience and continuing education) to invent, engineer and build useful instruments. In recent years he did the electrical, mechanical and optical engineering along with designing the control systems needed to build and sell (50,000 euro) a well-received optical streak camera with a patented IndexedMultiple Slit slider and Master Trigger System https://titanlabs.tv/ .

Scott was also the inventor behind to recently issued utility patents10,739,194 and 10,837,193 .

 Peter C. Freeman, Financal Consaltent / CFO.
 Professor Freeman has more than 40 years of experience in financial management, creating financial infrastructure and raising capital for established, startup, and turnaround companies. He has helped launch multiple start-ups and arranged financings with a total value exceeding $1 billion. These include public and private equity, angel investments, real estate loans, revolving lines of credit, asset-backed loans for equipment and receivables, and a wide range of project financings. He works with large and small companies in a variety of industries, including energy, water, life science, construction, real estate development, software, manufacturing, transportation, financial services, and non-profits.
 John Swartzberg MD, FAPC - Infectious Disease / Public health Consultant
 Dr. Swartzberg Graduated from UCLA with an MD in 1970 and completed his Postdoctoral
 Fellowship in Infectious Diseases in 1975. Today he is the Clinical Professor Emeritus at UC Berkeley’s School of Public Health in the Division of Infectious Diseases and Vaccinology. Dr
 Swartzberg will bring his deep understanding of public health and infectious disease to observe and advise TitanLabs’ CLEAN CASH program. This advice / recommendation will include things like what should be considered a satisfactory kill rate, What types of businesses should we market to in order to maximize public health benefit. What claims can we or should we make and
 finally if testing shows the device to be safe and effective how should public health guidance around handling cash change for businesses with a clean cash machine at their point of sale.

Titan Labs as a whole (Eyewear https://www.x-waves.net/, Optomechanical, and Clean Cash) in 2020 will lose ~62K in 2020 self-funded. In 2020 2 patents where granted to TitanLabs the indexed multiple slit slider and Leaver Lock Post Holder. The post holder system is in the process of being licensed to another firm who will also invest in prototyping and marketing we are working out the terms now. Financials plan for the Clean Cash System is available upon request. 

Use of funds: One approach is we get the NSF Grant of 233K phase 1 and then get a phase 2 commercialization grant of 1.X million after a successful Phase 1 program. Grate but this grant money has lots of strings attached and particularly for the 10 month period of phase 1. Having a mix of pivot and public money would be ideal. We are looking for 200K. if we get the grant then this would fully fund our first year of operations.

If we don't get the grant then 230K would allow us to do the design and fabrication of prototypes Bate and production models for more testing and demos and start pursuing sales (with this situation we would not develop high speed instrument until we had robust sales of the POS unit). Once we had better established  sales revenue then we can look for another round to get us to profitability.

Ready to Ask For Funding for your company?

Post a Funding Request