Did Erik Buell and François-Xavier Terny Defraud Their Loyal Backers?
Hundreds of backers from around the world invested in legendary motorcycle icon Erik Buell’s e-bike venture, FUELL Inc., only to be left empty-handed. Each Flluid e-bike backer put up around $4,000, while Fllow e-motorcycle backers contributed close to $10,000. In total, FUELL raised over $5 million, with $1.5 million from the Flluid Indiegogo campaign and more than $3.5 million from the Fllow Prelaunch campaign.
FUELL's Chapter 7 Bankruptcy announcement on Indiegogo:
"FUELL has entered receivership as of Oct 16th and is filing under Chapter 7 for the liquidation of its business under case # 24-25492 in the Eastern District of Wisconsin bankruptcy court"
Today, FUELL’s Wisconsin warehouse holds e-bike parts, but for Fllow backers? There’s little more than a CAD drawing. There is zero evidence that FUELL invested any funds raised into actual Fllow production. And even with the Fllow backers' extra $3.5 million in hand, FUELL couldn’t deliver the Flluid e-bikes. Essential components like frames are missing, and all of the funds are gone. FUELL filed for Chapter 7 bankruptcy on October 16th, 2024.
The FUELL Flluid e-Bike Indiegogo Campaign: A Promise of Innovation Unfulfilled
Launched in April 2023, FUELL’s Flluid e-bike Indiegogo campaign promoted what sounded like a game-changer in urban transportation: the Flluid e-bike. Under the direction of its renowned CTO, Erik Buell, FUELL promised cutting-edge features that captured backers’ imaginations and wallets. Equipped with the latest Valeo mid-drive motor, a seamless automatic transmission, and dual 1.2 kW battery packs, the Flluid was advertised as the longest-range e-bike in the world. The campaign’s promise resonated: over 350 backers contributed, helping FUELL raise $1.5 million.
Erik Buell's name brought credibility, with many backers trusting in the iconic motorcycle engineer’s reputation for innovation. Backers felt secure, particularly since FUELL guaranteed their contribution was a 'guaranteed purchase.' The campaign page boldly stated, 'Your contribution with us is a guaranteed purchase. This means that if you order an e-bike with us, we guarantee that you will receive it.'
Yet, despite these assurances, delivery dates stretched into the distance. By September 2024, FUELL had posted more than 20 delays, attributing them to supply chain and manufacturing issues. Backers’ questions began mounting when FUELL went dark on updates shortly thereafter. Now, with FUELL’s October 2024 Chapter 7 bankruptcy filing, the 'guaranteed purchase' promise seems like a distant memory.
The FUELL Fllow e-Moto Prelaunch Campaign: Big Promises, Empty Results?
The FUELL Fllow e-moto Prelaunch campaign launched Erik Buell’s next electric project - a motorcycle unlike any other. Marketed as Buell’s most revolutionary design, the Fllow promised unprecedented engineering features, blending high performance and visionary design. The campaign page declared, 'As the founder and former chairman of Buell Motorcycle Company, Erik Buell has created some of the most innovative motorcycles. His expertise in two-wheeler engineering sets Fllow apart.' The Fllow even claimed to achieve an impressive 0-60 mph in under four seconds and offer 150 miles on a single charge.
By August 2023, FUELL reported having raised $3.5 million with over 350 confirmed orders, even though it had originally set a benchmark of 3,000 reservations to proceed. However, FUELL pressed forward with order-taking despite missing this target, likely hoping Buell’s name and reputation would cover the gap.
Yet, as with the Flluid campaign, FUELL’s promises didn’t materialize. By July 2024, the last update on the Fllow offered little more than a CAD rendering, with no concrete production steps shared. With no parts listed in FUELL’s bankruptcy filings for Fllow production, backers are left wondering: was there ever an intent to deliver?
Explosive: The Erik Buell 'Retirement' Email
On August 21, 2024, Erik Buell responded to a concerned backer’s email with what could only be described as a bombshell: "I have been retired from FUELL for some time. I did do the core design concepts for the new Flluid models but have not been involved in the design refinement and commercialization process of them. There is a great small team there who are working on that, and they would be able to let you know the situation."
Wait...what?! Erik Buell retired from FUELL, quietly and without any public announcement? This was news to the entire backer community, as it was never disclosed. Not only does he remain listed in official court documents as a major shareholder, but he’s the only reason so many people backed the Flluid e-bikes and Fllow e-motorcycles in the first place. His name brought credibility to the project, making his statement downplaying involvement in the "commercialization process" feel like a slap in the face to supporters who trusted his expertise.
To say that Buell’s name drove the sales of these products is an understatement - he was, in fact, the entire brand. So how could he, knowing his influence over these projects and backers’ expectations, write such an email without a second thought?
Gary DeMel: FUELL’s 'President' or Just a Consultant?
In April 2024, FUELL made an announcement that raised both excitement and expectations among backers. They introduced Gary DeMel, a high-profile executive with a storied career at Intel and a track record of working with industry giants like Apple, Samsung, and Tesla. According to FUELL’s own words on their Instagram and in updates to backers, DeMel was hired as the new President of FUELL to oversee critical operations for both the e-bike and e-motorcycle lines. FUELL’s updates and Instagram posts presented him as someone who would 'revolutionize urban mobility' alongside the legendary Erik Buell and portraying him as a cornerstone of their future success.
However, what followed casts doubt on this glowing introduction. By October 2024, DeMel was distancing himself from the role. In a brief email that surfaced in backer forums, he wrote that he had actually been a 'consultant' for only two months and had resigned three months prior. Yet, his official FUELL business card reportedly bore the title 'President.' So, who was Gary DeMel to FUELL - a dedicated leader driving crucial projects, or a fleeting consultant?
Adding further intrigue, court documents reveal that DeMel currently holds five Flluid e-bikes, purportedly lent to him for 'promotional purposes.' While FUELL has defaulted on delivering e-bikes to hundreds of paying backers, the fact that their 'President' still has five in his possession raises further questions about how FUELL was allocating its resources - and how transparent they were being with their backers.
This conflicting narrative adds to the already murky picture surrounding FUELL’s operations and management. If DeMel’s tenure was truly limited to a consulting role, FUELL’s choice to market him as their President raises serious questions about their transparency with backers.
Indiegogo’s Role in the FUELL Campaign: Enabling Fraud and Silence Over Accountability
While FUELL’s failure to deliver products and their abrupt Chapter 7 bankruptcy is shocking on its own, the role Indiegogo played in enabling this disaster is an outrage that demands attention. Indiegogo, once known for innovation and the promise of helping creators launch groundbreaking products, now seems to turn a blind eye to serious complaints from the very people who fund their platform. When backers raised their voices, pleading for answers as their thousands of dollars vanished into FUELL’s void, Indiegogo marked our requests as 'solved' without a single explanation or response.
This is not just a one-off failure in customer service; it’s an institutionalized pattern of neglect. This summer, for example, Indiegogo claimed to have launched an investigation into FUELL. Yet, what came of it? Only silence. No updates were provided to the backers whose money funded this campaign, and no warnings were issued about potential issues. In fact, instead of transparency, Indiegogo quietly removed the "Indiegogo Team Favorites" badge from the FUELL campaign. But did they notify backers? No. They stripped the badge quietly, while backers remained blissfully unaware that the platform might have been distancing itself from FUELL.
Even more disturbing is Indiegogo’s infamous pattern of closing support tickets as 'solved' without providing any actual information. Backers have requested information, refunds, and accountability - only to see their tickets marked as resolved without a single word. Indiegogo appears to be more invested in protecting their platform and campaign owners than in providing honest information to their funders, the backers, who are left in the dark with their investments lost.
Indiegogo's refund policy further compounds the injustice. The campaign was marked as 'Locked' by FUELL, indicating that perks were 'ready for shipment' - an utterly misleading status that permanently blocks backers from requesting refunds. As the campaign went bankrupt, we realized just how deceptive this 'Locked' status really was. FUELL never had the capacity to ship those products, and yet the 'Locked' status shut the door on backers seeking refunds through Indiegogo. This, in essence, barred hundreds of backers from accessing their funds in any meaningful way, even as FUELL spiraled into bankruptcy.
It’s time for accountability. Indiegogo needs to answer for their negligence, their lack of transparency, and their apparent disregard for backer protection. Their silence in the face of financial ruin for so many backers is more than neglect; it’s complicity. For the hundreds of us who invested in good faith, Indiegogo’s failures are an unforgivable betrayal.
The FUELL Team
Erik is the Founder, former Chairman and CTO of the Buell Motorcycle Company, which eventually merged with Harley-Davidson from 1993 to 2009. A pioneer of modern race motorcycle technology, as well as a world class engineer and inventor, he created some of the most innovative and usable motorcycles to date.
François-Xavier Terny - CEO
An entrepreneur at heart, François-Xavier began his professional path in 1991 as a strategic consultant with Bain & Co. In 1996, he created his own consulting firm, Masaï, specializing in cost optimization. He has been investing in start-ups like VELDT Helmets and motorcycle ventures, since 2008. With a unique perspective on design and innovative strategies for manufacturing, sales, marketing, and distribution, he brings disruptive thinking and operational management expertise to FUELL.
Gary DeMel - President
With an impressive background as a former Intel executive and startup advisor/CEO, Gary brings invaluable experience to our team. Gary's track record includes supporting industry giants like Apple, Samsung, and Tesla, as well as leading startups to remarkable growth. His passion for motorcycles and expertise in electric motors align perfectly with our vision of revolutionizing urban mobility.
Dan Hurda - Director of Engineering
Dan joined Buell Motorcycle in 1997, after obtaining his degree in Aeronautical and Astronautical Engineering from MIT. He has since held growing responsibilities in the fields of engineering, platform management and certification for Buell, Harley-Davidson and most recently EBR. Dan was in his last position the Director of Engineering at EBR and has in-depth experience of bringing motorcycles from concept to production.
Ed Laben - Director of Sourcing and Manufacturing
Trained as an engineer, Ed’s professional career started in 1984 at the Outboard Marine Corp. He joined Harley-Davidson in 1991, where he developed an impressive track record in sourcing and procurement — being involved in key projects including the co-development of the V-Rod in Germany with Porsche. He then moved to Buell Motorcycle as engineering purchasing manager, before joining EBR as Director of Sourcing in 2010.
Artem Smirnov - Design
With a degree in Industrial Design from Vitebsk State Technological University (Belarus) in 2010, Artem followed his passion for vehicles by designing both interior and exterior of cars for the Russian market. He moved into the freelance world in 2015, developing numerous concepts of vehicles from design to pre-production prototypes. Winner of the Rostec design contest in 2016, he also developed motorcycle and e-bike concepts that drew interest from publications to manufacturers.
Others
- Chris Hayes - Domestic & International Sales