| SEASON 9 EPISODE 22 | |
|---|---|
| Pitch | solar cooking products making it simple to cook anywhere under the sun |
| Entrepreneur | Catlin Powers |
| Asked For | $500,000 for 3% |
| Deal | $500,000 for 4% |
| Shark | Mark Cuban |
| Status | Out of Business |
Company Background
What is SolSource?
Solsource is a powerful pollution-free, 100% solar-powered stove, making it possible to cook anywhere under the sun.
The parabolic reflector panels focus the sun’s rays to a focal point. It is 92% energy efficient, is portable, versatile, and affordable to both affluent and low-income consumers globally.
Temperatures of over 550°F for grilling and baking can be reached in 5 minutes and water can be boiled in 10 minutes per liter.
Who is the Founder of SolSource?
Dr. Catlin Ishihara Powers is the co-founder and CEO of One Earth Designs, formerly based in California and founded in 2012.
She is currently a Namaste Foundation in Wellington Region, New Zealand.
She graduated from Wellesley College with a double major in chemistry and environmental studies before graduating from Harvard with a doctorate in environmental health.
She is the holder of two solar patents, has served on the boards of numerous social change organizations, and is the recipient of a multitude of awards in the field of environmental studies.
Founder’s Story
Dr. Catlin Ishihara Powers had an interest in building things during her itinerant lifestyle, growing up with parents who were teachers.
The eco-engineer came up with the idea of Solsource, after 54 prototypes, to help Himalayan villagers cook in sandstorms and sub-zero temperatures and move away from potent yak dung fires.
At this time she also designed a water-carrying backpack. She co-founded Solsource with Scot Frank, an MIT graduate after raising $143k in a Kickstarter campaign.
This enabled her to make modifications and engage with her customer base and eventually had a small factory in the south of China agree to manufacture the product after being rejected by numerous manufactures as the order was so small.
Solsource worked with non-profit organizations to help local communities benefit from solar cooking. Powers later developed an interest in storing solar energy.
What Happened After Shark Tank Update
Is SolSource Still in Business?
It came as a surprise to many after One Earth Designs announced it would cease producing SolSource from the 1st of January 2020. It was unclear why the company collapsed. However, the venture assured its customers they would still get the product from SIC in Asia and the US.
Everything had seemed to be going according to the plan until the beginning of last year. They announced in their website they would cease their operation. But they assured their customers that they would continue to promote social global impact mission through humanitarian projects like SolSource.
I smell a fishy situation right here? I was on board with this. I saw the whole picture. So who made this go away? Over money? This is a genius idea so something is in the works in the background. I would like a few solar panels 👀
This intrigued the crap out of me and for Mark to jump on 4% and now it out if business is not right. I’m calling bull shit in this whole operation. 😤
She was govt sponsored Harvard education, federal grant for Himalayas then a solar grilling experience. Mark, I love you, but you deserved this. She was just looking for a new income source to continue to live on everyone else’s dime. She took you!!!