This Cincinati company started in an old garage and has shipped over 100,000 solar products to 70 countries. Over the past few years GoSun has expanded into portable fridges, charging, water purification, lighting and is now addressing power generators.
Fuel-free tech innovations fit into outdoor recreation and emergency preparedness markets, helping to provide durable and portable power solutions. GoSun turned to Start Engine for an Equity Crowdfunding raise and is offering different bonuses for varying investment amounts. The starting tier of investment is $250 and offers a 10% discount on GoSun products available on the website. In total five different investment tiers are available with the top tier offering 10% bonus shares and a complete solar kitchen as investment rewards. The campaign was launched on April 21st and has raised over $290,000 to date. The raised funds are ploughed back into the innovation of new fuel-free products.
“We like to think of it as though we are giving people and our customers a chance to own a piece of the future.” Patrick Sherwin, CEO of GoSun spoke about the reasoning behind turning to Start Engine. “We are a crowdfunded company so it makes a lot of sense to have customers become investors to fuel our rocket ship.” Sherwin highlights that the company is in a unique position to capitalize on the solar boom.
Solar in America
The Office of Energy Efficiency and Renewable Energy recognizes that solar power is more affordable, accessible and prevalent in the US than before. US solar power capacity has grown to an estimated 97.2 gigawatts, enough power to run 18 million American homes. Currently over 3% of US electricity comes from solar energy.
American solar power offsets more than 70 million metric tons of carbon dioxide yearly, this is an equivalent of planting 1.2 billion trees. During 2018 the US installed 10.6 GW of solar and even big oil giants are embracing solar technology.
Solstice points out that the average American home going solar for a year is equivalent to driving 18,000 miles less or growing 122 tree seedlings for a decade. Going solar for a year can prevent more than 12,500 pounds of carbon dioxide from being added to the atmosphere.
GoSun has been named a CES 2021 Innovation Awards Honoree by the Consumer Technology Association (CTA), for the company’s water purifier in the category of Sustainability, Eco-Design and Smart Energy. The water purifier in question, GoSun Flow, uses solar energy to filter 99.99% of pathogens from water and is multifunctional. “Our technology can cook, cool and charge off grid, helping people become energy independent, resilient, reduce emissions and have more fun,” Sherwin stated. This innovative spirit allowed for the launch of the first hybrid solar and electric oven. Known as the GoSun Fusion, it can be powered with any 12V power source when sunlight is not available, allowing usage in all weather conditions.
“Many investors are looking for a way to alleviate the problems of climate change. GoSun provides a unique opportunity because we provide several solutions to massive, global issues,” Patrick Sherwin notes.
Since the company’s inception GoSun has worked with dozens of nonprofit organizations to provide discounted solar cookers and solar products to those in need. The company provided funding and support to the California Fire Foundation, The Houston Food Bank, Global Giving and Operation BBQ Relief. Relief efforts related to Typhoon Yutu saw the company provide 1,500 solar cookers to the American Red Cross.
To date the company has helped to plant over 50,000 trees through their involvement in Trees for the Future. It was while volunteering with non-profit organizations in Haiti and Latin America that the GoSun founder experienced the vulnerability of energy poverty first hand. Spending thousands of hours in development, research and partnerships, Sherwin wants to advance low-cost, widespread solar cooking and solar solutions for developing countries and institutions.
Power from new wind and solar farms in 2020 helped force a record fall in global coal power, due to the pandemic slowing the world’s rising demand for electricity according to a statement by electrek.co. Wind and solar supplies almost a tenth of global electricity and is not showing any signs of slowing down.