Solsource is an innovative solar-powered cooker, developed by Catlin Powers and Scott Frank under the company One Earth Designs.
The product gained massive attention after appearing on Shark Tank, leading to a significant deal with billionaire investor Mark Cuban.
Solsource is now valued at an estimated $10 million, and the company continues to grow, benefiting from both its appearance on the show and its environmentally friendly design.
Solsource Quick Facts
Product: Portable solar cooker
Company Net Worth: $10 Million (estimated)
Pitch: $500,000 for 3% equity in Solsource
Shark Tank Deal: $500,000 for 4% equity + a seat on the board of directors
Shark Investor: Mark Cuban
Shark Tank Appearance – Did it Go Through?
When Catlin Powers appeared on Shark Tank, she pitched her innovative solar-powered cooking device, the Solsource, asking for a $500,000 investment in exchange for a 3% stake in the company.
Initially, the pitch didn’t seem promising as each of the Sharks rejected the offer, citing concerns about the market and competition.
However, Mark Cuban saw potential in the product. After asking Powers if she thought she could outcompete Elon Musk’s solar ventures, and receiving a confident response, Cuban made an offer.
He proposed investing the requested $500,000, but in exchange for 4% equity instead of 3%, and also asked for a seat on the company’s board of directors. Powers countered, accepting the terms and the deal was made.
Solsource’s Rise After Shark Tank
After the show aired, Solsource saw a significant surge in popularity, contributing to a net worth increase for the company.
Although the estimated net worth is around $8.2 million as of the most recent evaluation, it still holds substantial growth potential.
The company continues to roll out new products, including a solar-powered battery for emergency situations and off-grid activities, which complements the existing product line.
Popularity and Appeal of Solsource
The Solsource cooker stands out for its environmentally friendly design and innovative use of solar power.
It is particularly popular among outdoor enthusiasts, such as campers, and eco-conscious consumers looking for sustainable ways to cook without fuel.
The cooker uses solar energy to heat up quickly—up to five times faster than traditional cooking methods—and is safe enough to be used indoors.
Solsource was originally designed to address indoor air pollution issues in the Himalayas, where people were affected by toxic smoke from traditional cooking methods.
The Future of Solsource and One Earth Designs
Today, Solsource accounts for around 80% of One Earth Designs’ profits, and the company has expanded its product line to include other innovative solar-powered devices.
With continued support from Mark Cuban and other products in development, the company is well-positioned for long-term success.
