FireAvert Update | Shark Tank Season 7

Peter Thorpe fought too many house fires that started from someone leaving the stove on and walking away. He knew there had to be a way to stop these fires before they spread, so he created FireAvert, a device that shuts off an electric stove when it hears a smoke alarm. Cutting the power stops kitchen fires in their tracks and helps homeowners avoid deadly accidents and costly damage. Will the sharks back this fire-stopping solution? Let’s find out in our FireAvert update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to FireAvert after Shark Tank.

Peter entered Shark Tank Season 7, seeking $300,000 for 7% equity in FireAvert. After his pitch, he made a deal with Lori Greiner for a $300,000 loan with 10% royalty until $400,000 was recouped, then 10% equity.

In terms of a FireAvert update, the company expanded its product line with multiple fire safety devices and smart alert systems, securing partnerships like Marriott Vacations Worldwide.

Shark	Result
Lori Greiner	Accepted offer of a  $300,000 loan with 10% royalty until $400,000 was recouped, then 10% equity.
Kevin O’Leary	$300,000 investment to buy out Jeff’s stake(60%)
Robert Herjavec	$400,000 investment to buy out Jeff’s stake(60%)
Daymond John	No offer
Mark Cuban	No offer

Shark Tank FireAvert Pitch

• Entrepreneur: Peter Thorpe
• Business: Stove-top fire prevention plug
• Ask: $300,000 for 7% equity
• Result: $300,000 loan with 10% royalty until $400,000 recouped, then 10% equity.
• Shark: Lori Greiner

Peter walked into Shark Tank in full firefighter gear, making it clear that his mission was about fire safety.

He was seeking an investment in FireAvert, a device designed to stop kitchen fires before they spread. 

FireAvert works by automatically shutting off an electric stove when it detects the sound of a smoke alarm, cutting the power before flames can ignite.

As a firefighter, Thorpe had seen too many preventable fires caused by unattended stoves.

He created FireAvert to reduce these risks and offer a simple, effective solution. Instead of selling directly to consumers, he focused on property owners and businesses.

At the time of filming, FireAvert had generated about $2 million in sales. Each unit cost $45 to make and sold for $195.

The sharks felt this price was too high. Lori Greiner and Robert Herjavec also wanted to know if the product worked for gas stoves.

Thorpe explained that FireAvert was currently designed only for electric stoves, as they were the leading cause of kitchen fires. However, a gas version was in development.

While the concept made sense, the sharks turned their focus to costs. Kevin O’Leary pointed out that while the high markup made the product profitable, it also limited accessibility for the average consumer.

Mark Cuban, Daymond John, and Lori questioned whether the pricing strategy could slow growth.

Thorpe reassured them that FireAvert was selling well because it targeted businesses and property owners rather than individual buyers.

Then, a major issue surfaced—Thorpe only owned a minority stake in the company. A friend named Jeff had invested $50,000 early on in exchange for 60% ownership.

This revelation changed the sharks’ perspective.

Kevin immediately saw a problem. He argued that Jeff hadn’t saved Thorpe—he had taken control.

As a result, Mark, Daymond, and Lori dropped out, explaining that they weren’t comfortable investing in a business where the founder lacked control.

They also worried that if Thorpe’s stake became even smaller, he might lose motivation to push the business forward.

Robert was about to walk away as well, but Kevin unexpectedly made a bold offer.

He proposed investing $300,000 to buy out Jeff’s stake, which would give him 60% ownership while restoring 51% voting control to Thorpe.

Not wanting to be outdone, Robert countered with $400,000 under the same terms.

However, neither offer could move forward because Thorpe didn’t have the authority to sell Jeff’s shares.

Worse, Jeff refused to give up his majority stake. With no way to secure control of the company, Kevin and Robert dropped out.

Determined to leave with a deal, Thorpe turned to Lori, knowing that QVC could be a strong platform for FireAvert.

He increased his offer to 12% equity, hoping to persuade her that he could lower the price to $99.

Lori had a different idea. She proposed a $300,000 loan with a 10% royalty until she recouped $400,000, plus 10% equity.

Kevin saw an opportunity and countered with a similar loan offer but with a lower royalty and a higher repayment amount.

After some negotiation, Thorpe ultimately chose Lori’s offer.

Let’s find out how things worked out in our FireAvert update.

Shark Tank FireAvert Update

Our FireAvert update found that the deal with Lori Greiner never closed, 

Despite this, the exposure from the show led to FireAvert’s e-commerce sales surging from approximately $1,000 to $50,000.

This momentum continued, with the company generating about $2 million in revenue by 2018 and reaching $4 million in annual revenue by mid-2019.

Initially, FireAvert focused on a single product: an automatic shut-off device for electric stoves.

Recognizing the need to cater to a broader market, the company expanded its product line to include devices compatible with gas stoves and other household appliances such as microwaves, space heaters, toasters, and air fryers.

They also introduced water sensors to detect leaks, fire sprinkler quick-stop tools, tamper sensors, smart fire alarms, and gas detectors.

Approximately 95% of their sales are now directed towards multi-unit housing developments, hotels, and senior living centers.

The company secured a partnership with Marriott Vacations Worldwide, installing their devices in all of Marriott’s rental properties and timeshares.

In September 2023, Peter made his first appearance on QVC, promoting FireAvert’s automatic stove shut-off devices for both gas and electric appliances.

Throughout these developments, Peter Thorpe has remained at the helm as CEO while continuing his service as an active firefighter and paramedic in Utah.

For more information on their products, visit their official website.

If we get another FireAvert update we will let you know.

You can find more information and company updates for the other products featured in Season 7 Episode 12 here:

• Extreme Sandbox Update
• ABS Pancakes Update
• Total Tie Keep Update

Before you go, be sure to check out our list of all the Shark Tank Season 7 products.