Confidential — Investor Presentation 2026

CNXA

ARGIONNEONXENION

Three brands. One network. ARGION manufactures. NEON builds. XENION certifies. All three connected to the customer at the centre of everything — engineered to European Passive House standards, built in Cheyenne for the Mountain West.

C N X A Customer NEON XENION ARGION
K4 complete graph — every node
directly connected to every other
$14M+
Year 3 combined revenue
Manufacturing · Homes · Certification
22%
Target EBITDA — Year 3
Manufacturing pillar alone
M18
Breakeven milestone
Month 18 — first profitability
$4.2M
Total capital required
~40% non-dilutive sources available
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Four nodes.
Six connections.
One philosophy.

CNXA (pronounced "KENZA") is not an acronym. It is a network. In graph theory, four fully connected nodes form a complete graph — K4 — where every node has a direct relationship with every other. That is the structural truth of this company: the Customer is not at the end of a chain. They are in direct relationship with all three brands simultaneously.

A — ARGION
Manufactures the components. The foundation everything else is built on.
N — NEON
Builds the homes. Captures the full builder margin using ARGION components at cost.
X — XENION
Sets the standard. Licenses zero-toxic certification to the whole industry.
C — Customer
First in every decision. Every product, every standard, every home — exists for them.
C N X A Customer NEON XENION ARGION C—N C—X C—A N—A X—A N—X
K4 complete graph — 4 nodes · 6 edges
every entity in direct relation to all others
CNXA
Wyoming SOS — Clear
ARGION
Wyoming SOS — Clear
NEON
Wyoming SOS — Confirm call pending
XENION
Wyoming SOS — Clear
01 — The Opportunity

The Mountain West is building — and it cannot build fast enough

Colorado alone faces a gap of 106,000–180,000 homes. The Front Range needs 34,000 units per year for a decade. Labor shortages are acute across Wyoming, Montana, and Idaho. Prefabrication is the only structural answer — and no Wyoming manufacturer is producing to European quality standards.

Priority 1
Colorado Front Range
180kunit housing gap
34khomes/yr needed
1.5hfrom Cheyenne
Priority 2
Utah — Wasatch Front
Top 5nationally for new construction
SLC·Provo·Ogden
Priority 3
Idaho — Treasure Valley
#1 statenew construction
21.2units per 1k existing homes
Priority 4
Montana — Billings / Bozeman
Extremelabor shortage
Zerolocal prefab supply
#1
Colorado Springs — 2025 US Housing Market (Realtor.com)
ARGION's primary Year 1 market is one of the most active construction zones in the country. Classic Homes, Challenger Homes, and Tralon Homes are all actively building within 90 minutes of Cheyenne. No incumbent supplier in the region manufactures to Passive House standards. ARGION is first.
Market rollout sequence
Year 1
Wyoming + Southern Colorado. Establish production, build first customer relationships, achieve PHIUS+ certification.
Year 2
Full Front Range + first Utah market. Expand to Denver builders, Provo / Ogden entry.
Year 3
Boise + Billings + luxury mountain. Jackson Hole, Telluride, and affordable housing state contracts.
Rocky Mountain Range — Mountain West market
The Mountain West
is building. We're ready.
Wyoming · Colorado · Utah · Montana · Idaho
5-state target market · 34,000+ homes/yr demand
Zero incumbent Passive House supplier in region

Three brands.
One platform.

ARGION manufactures the components. NEON builds the homes. XENION certifies the standard. Each brand has its own identity, capital structure, and launch gate — but all three are united by the same founding philosophy: inert materials, engineered to Passive House precision, with zero harmful content.

01
ARGION — Pillar 1 · Core
Manufacturing
60,000 sq ft CNC facility in Cheyenne. Weinmann panel line, truss press, Hundegger timber cutter. B2B supply to regional builders across Mountain West.
LaunchMonth 0 — immediate
Year 1 FTE14 employees
Year 3 FTE28 employees
Year 3 Revenue$12.8M
Year 3 EBITDA22%
Capital Needed$4.2M (seed + A)
02
NEON — Pillar 2 · Gate: Month 18
Homes
Spec homes and JV development using ARGION components at manufacturing cost. Captures builder margin + manufacturer cost. Self-financed through construction-to-perm loans.
Launch GateAfter P1 breakeven
Year 1 (Pillar 2)1–2 spec homes, Wyoming
Year 2Colorado JV + land developer
Year 3Luxury + affordable contracts
Gross Margin28–33%
Capital Model80% LTV construction loans
03
XENION — Pillar 3 · Gate: P1 products exist
Certification Standard
Proprietary certification for Passive House + zero-toxic + QA + Mountain West climate resilience. Three tiers, external manufacturer licensing, independent institute spin-out.
Launch GateAfter P1 first production
Tier StructureEssential · Plus · Platinum
External Mfrs3–5 by Year 2
Annual Revenue$110k+ passive at scale
Roadmap EndPHI Germany recognition
FundingSBIR grant — non-dilutive
NEON cannot draw from ARGION capital — ever. Three separate legal entities under one Wyoming holding company.
XENION cannot certify until ARGION has manufactured products — ARGION self-certifies first as Manufacturer #001.
Month 18 breakeven is the master gate — it triggers both Series A and NEON launch simultaneously.

ARGION — European standards.
Mountain West scale.

Every ARGION component achieves Passive House energy performance with zero-toxic, zero-formaldehyde, zero-VOC materials. Lead time of 3–4 weeks vs 8–12 industry standard. P.E.-stamped for all Mountain West jurisdictions.

Prefab wall panel manufacturing
SIP + Passive House Assembly
Prefab Wall Panels
Structural insulated wall panels engineered for Zone 5–7 climate resilience. NAF (no-added formaldehyde) wood fibre core, Pro Clima INTELLO+ vapour control membrane, TESCON tape system for continuous airtight layer. Ships flat-pack with pre-installed window bucks.
PHIUS+ Ready GREENGUARD Gold NAF Certified FSC Lumber Red List Free
R-valueR-40 to R-60+
Airtightness target< 0.6 ACH50
Energy saving vs code~90%
Homeowner annual saving$1,600–3,600/yr
30-year homeowner value$50–100k
Lead time3–4 weeks (vs 8–12 std)
P.E. stampWY, CO, UT, MT, ID
Pro Clima — INTELLO+
Vapour variable membrane — German-engineered, best-in-class airtightness
Steico / Gutex
Wood fibre insulation — zero-toxic, carbon-storing, high hygric capacity
Engineered roof trusses
Engineered Timber Assembly
Roof Trusses
Precision-cut CNC roof trusses engineered for Mountain West snow loads. Hundegger timber processing centre produces trusses with tolerance of ±1mm. Pre-cut, pre-labelled, crane-ready delivery.
PHIUS+ ReadyFSC LumberZone 5–7 Engineered
EquipmentHundegger CNC cutter
Tolerance±1mm
Snow load designZones 5–7 / up to 100 psf
DeliveryCrane-ready, pre-labelled
Lead time2–3 weeks
Rockwool / Knauf
Mineral wool cavity fill — non-combustible, zero-toxic, acoustic performance
Floor cassette manufacturing
Structural Floor Cassette
Floor Cassettes
Pre-insulated floor cassettes with integrated service void, acoustic separation, and radiant heat substrate. Weinmann panel line produces cassettes in standardised 2.4m × 12m bays for rapid site assembly.
PHIUS+ ReadyGREENGUARD GoldAcoustic Rated
EquipmentWeinmann panel line
Bay size2.4m × 12m standard
Service voidIntegrated — plumbing + electrical
Radiant heatSubstrate pre-installed
Lead time3–4 weeks
Luxury timber frame mountain home
Post and Beam + CLT
Timber Frames
Heavy timber and cross-laminated timber structures for luxury mountain residential and commercial applications. Jackson Hole and Telluride markets. Carbon-storing, biogenic materials. Structural exposed finish.
FSC CertifiedCarbon StoringLuxury Spec
MarketsJackson Hole, Telluride
SegmentLuxury mountain residential
Premium vs SIP+30–45% price point
CarbonNet carbon-storing structure
Lead time5–7 weeks
Industrial precision CNC manufacturing facility
Precision at scale.
ARGION manufactures.
60,000 sqft · Cheyenne, Wyoming
Weinmann + Hundegger + Truss press
3–4 week lead time · P.E.-stamped Mountain West

From seed to
$14M in 36 months.

Year 1 is pure ARGION manufacturing. Year 2 adds NEON homes. Year 3 is all three brands operating simultaneously. Breakeven at Month 18. Series A at Month 14 using live Year 1 data.

Year 1 Manufacturing Revenue
$2.9M
Wyoming + Southern Colorado market only
Year 3 Combined Revenue
$14.1M
All three pillars operational
Year 3 EBITDA Margin (Mfg)
22%
On $12.8M manufacturing revenue
Homes Gross Margin
28–33%
Manufacturing cost + builder margin captured
Revenue by pillar — Year 1 through Year 3 (USD millions)
Year 1
$2.9M
Year 2
$7.3M
Year 3
$14.1M
XENION $0.4M
NEON $1.3M
ARGION $12.4M
Year 3 breakdown
ARGION Manufacturing
NEON Homes
XENION Standard
Capital requirements — $4.2M total (Pillar 1 only)
Facility fit-out
60,000 sqft — Cheyenne
$680k
CNC equipment — Phase 1
Weinmann + truss press + Hundegger — 6–9 mo lead
$1.85M
Working capital — 12 months
Ops, utilities, materials
$820k
Staffing + onboarding
14 FTE — CNC ops, engineers, sales
$420k
Marketing + sales
HBA memberships, trade shows, sales team
$180k
Legal + licensing + contingency
LLC, IP, certifications, 10% buffer
$250k

XENION — The standard
the Mountain West
is waiting for.

The Mountain West has no certification standard for prefab building components combining Passive House energy performance, zero-toxic material content, manufacturing QA, and climate zone resilience. XENION creates it — and licenses it to the whole industry, including competitors. Name confirmed, USPTO Classes 19/37/42 clear, and the roadmap runs all the way to PHI Germany mutual recognition.

Passive House Performance
Meets PHIUS+ energy standards. 90% reduction vs code. Verified by third-party energy modelling.
Zero-Toxic Materials
Zero formaldehyde, zero VOC, zero halogenated flame retardants. GREENGUARD Gold compliant.
Manufacturing QA
Dimensional tolerance, moisture content, structural testing, and factory audit protocol.
Mountain West Resilience
Engineered for Climate Zones 5–7. Wind uplift, seismic, snow load, and freeze-thaw cycling.
Essential
+8–12% price premium
  • Passive House energy performance
  • Zero-toxic material declaration
  • Zone 5–7 structural certification
  • Annual factory audit
Plus
+18–25% price premium
  • All Essential requirements
  • Full EPD (Environmental Product Declaration)
  • Red List Free compliance
  • Third-party blower door verification
  • LEED v4 component compliance
Platinum
+30–45% price premium
  • All Plus requirements
  • Net carbon-negative materials
  • Circular economy end-of-life plan
  • PHI Germany mutual recognition
  • Living Building Challenge aligned
XENION — Commercialisation roadmap
Phase 1
Draft & file
Write the standard. File USPTO Classes 19/37/42. XENION name clear globally.
Phase 2
Self-certify #001
ARGION becomes Manufacturer #001. Certifies its own components. Proves the protocol works in production.
Phase 3
3–5 external
License to first outside manufacturers in CO/UT. Licensing revenue begins. Standard gains independence from ARGION.
Phase 4
Spin-out institute
XENION spins out as independent non-profit certification body. Governance board. Self-sustaining on license fees.
Phase 5
Code recognition
Seek Wyoming + Colorado building code recognition. XENION Platinum = code compliance pathway for high-performance zones.
Phase 6
PHI mutual recognition
Pursue mutual recognition with Passivhaus Institut, Darmstadt. XENION Platinum = equivalent to PHI certification for Mountain West climate zones.
Revenue at scale
$110k+
passive annual license fees
Funding source
SBIR
Non-dilutive — DOE / HUD R&D commercialisation
Trademark status
Clear
USPTO Classes 19/37/42 — no conflicts globally
End goal
Independent
XENION spins out — value accrues back to CNXA

All candidates pending full attorney trademark clearance search ($500–1,500) before public commitment. Domain reservation required before USPTO filing.

Grand Teton Range — Jackson Hole Wyoming
Jackson Hole. Telluride.
Bozeman. We're building there.
Year 3 luxury mountain entry
+30–45% price premium — Platinum tier
Zero incumbent Passive House supplier

Seven layers.
~40% non-dilutive.

The three-brand structure demands clean capital separation. Each entity raises its own capital independently. Non-dilutive sources are secured first to raise valuation before seed closes. The SBA 504 Green Loan — at $5.5M cap for manufacturers — is the cornerstone of the ARGION debt stack.

Month 0–2
Phase 0 — Before launch
$50–100k
Wyoming Kickstart Grant
$5–50k. Growth-oriented WY startup under 25 employees. Rolling basis — apply immediately. Non-repayable.
Grant
Wyoming SBDC — free advisory
Free business planning, financial modelling, SBIR proposal support. Engage first — they know every program and can open doors.
Free
Founder capital
$50–150k personal investment. Covers LLC formation, legal, early advisors. Investors need to see skin in the game.
Equity
Month 1–3
Phase 1 — Seed round
$1.8M
Private seed investors (convertible note / SAFE)
$1.0–1.5M from Mountain West construction veterans, clean-tech angels, and Wyoming HNWIs. 20% discount on conversion. Breakthrough 307 as local anchor investor.
Equity
WBC 50/50 Financing Program
Up to $2.5M. Wyoming Business Council co-finances 50% of project cost alongside a local bank. Non-dilutive. Covers facility fit-out and early equipment.
Debt
SBA 7(a) working capital loan
$150–350k via Wyoming bank. Covers 12 months of operating costs while revenue ramps. Fixed rate, 10-year term.
Debt
Month 3–9
Phase 2 — Build-out
Up to $5.5M debt
SBA 504 Green Loan
Up to $5.5M. NAICS 31–33 manufacturer + Passive House facility qualifies for elevated Green cap. No aggregate borrower limit — can stack for Phase 2 equipment expansion. Only 10% down. Fixed rate 20-year term. This is the cornerstone of the debt stack.
Debt
Wyoming Industrial Development Bonds
Up to $10M. Tax-exempt bonds issued by Cheyenne for manufacturing businesses. Apply through Wyoming Governor's Office for state volume cap allocation.
Debt
WY Workforce Development Training Fund
$1–4k per new hire. State grant covers CNC operator training for all 14 initial employees. Reduces onboarding cost by $28–56k.
Grant
BRC Grant — via City of Cheyenne
City applies on CNXA's behalf for Business Ready Community infrastructure funds. Site preparation, road access, loading facilities. You commit to locate there; the city does the work.
Grant
Month 12–18
Phase 3 — Growth capital
$2.4M + SBIR
Federal SBIR / STTR Grant (DOE / HUD)
$100k–1M. Certification standard qualifies as R&D commercialisation project. Non-dilutive. Wyoming SBDC provides free proposal writing. State automatically matches federal award.
Grant
WBC Industrial Certifications Grant
50% matching funds for PHIUS+ and GREENGUARD Gold certification costs. Apply Phase 1 (exploration) then Phase 2 (actual costs).
Grant
Series A — $2.4M institutional equity
Clean-tech VCs and construction strategics. Anchored by Year 1 live revenue data, forward order book, and PHIUS certification. Breakthrough 307 as co-investor for credibility.
Equity
Month 18+
Phase 4 — NEON Homes launch
Self-financing
Construction-to-permanent loans
80% LTV. Bank finances the build; loan converts to mortgage on sale. First home finances the second. Pillar 2 is self-funding after the first sale — never draws from Pillar 1 capital.
Debt
JV developer equity
Colorado land developer contributes lots. NEON contributes components and construction management. Zero land capital required from NEON. Margin split negotiated on contribution value.
Equity
CDBG + HUD affordable housing grants
Federal block grants via city/county for affordable housing construction. Colorado's 180k unit gap makes these accessible once NEON holds a GC license in-state.
Grant
01
Non-dilutive capital first, equity second
Every dollar of grant or government debt raised before seed round closes reduces equity dilution. WBC 50/50, SBA 504, and state grants are in motion before — not after — the seed closes.
02
Debt for assets, equity for growth
SBA 504 and industrial bonds are collateralised by physical assets — building and CNC equipment. Equity covers salaries, marketing, and working capital. Never mix these two pools.
03
Green = leverage
The Passive House manufacturing facility qualifies for the SBA 504 Green elevated $5.5M cap per project with no aggregate borrower limit. Stack two 504 loans for facility + Phase 2 equipment — ~$11M in low-cost fixed debt at 10% down.

Start small.
Win fast.
Go national.

Lead with Colorado Springs Tier 2 builders — 4–8 week sales cycles, active communities, no incumbent Passive House supplier. Use those wins to approach nationals. The HBA is the door; ARGION's 3–4 week lead time is the pitch.

Tier 2 — Start here (4–8 week cycle)
Classic Homes
Colorado Springs · 30+ years · dominant local builder
First call
Tralon Homes
Colorado Springs · 2025 People's Choice + Best Overall Home award
First call
Challenger Homes
Colorado Springs · military focus · multiple active communities 2025
First call
G.J. Gardner Homes
Franchise model — one win opens 5+ franchise locations
Franchise multiplier
Oakwood Homes
Denver suburbs · high volume · affordable segment
High volume
Tier 1 — Long cycle, pursue in parallel (12–18 mo)
Richmond American Homes
Denver HQ · more accessible than other nationals
National
Century Communities
Englewood CO HQ · Cheyenne local presence
National
Toll Brothers
Luxury segment · premium pricing accepted
Luxury tier
D.R. Horton
#1 US builder · requires P.E.-stamped certs first
National
Lennar
#2 US builder · has in-house prefab arm — monitor carefully
National
Geographic rollout — 36 months
Year 1
  • Wyoming — home state, zero competition
  • Southern Colorado — Colorado Springs
  • Join CO Springs HBA + Denver Metro HBA
  • PHIUS+ certification achieved
Year 2
  • Full Front Range — Denver builders
  • Utah — Wasatch Front first entry
  • First national builder approach (Richmond)
  • NEON launches — Colorado JV
Year 3
  • Idaho — Treasure Valley (Boise)
  • Montana — Billings + Bozeman
  • Jackson Hole + Telluride luxury
  • Affordable housing state contracts
C N X A
Request Information

Ready to build
the future of
Mountain West housing?

CNXA — the holding company connecting ARGION, NEON, and XENION — is currently raising a $1.8M seed round for the ARGION manufacturing pillar. We are seeking investors who understand the Mountain West construction market and the structural shift toward prefabrication, zero-toxic materials, and high-performance building.

HeadquartersCheyenne, Wyoming
StagePre-seed · Raising $1.8M
Holding co.CNXA — Wyoming LLC
StandardsPHIUS+ · GREENGUARD Gold · XENION