Solsource Grill Update | Shark Tank Season 9

Solsource was featured on Shark Tank during Season 9 Episode 22. The company was seeking an investment of $500,000 for 3% equity. The significant and supposedly exclusive offer to the sharks would not easily be agreed to with such a high imputed valuation. Entrepreneur, Catlin Powers, believes that her solar-powered grill is extremely valuable, convenient, and safe. Let’s see if Catlin can convince the sharks to invest before we give you a Solsource update.

Shark Tank Solsource Update

Solsource Update

  • Entrepreneurs: Catlin Powers
  • Business: Solar Powered Grill
  • Ask: $500,000 for 3% equity
  • Result: $500,000 for 4% equity
  • Sharks: Mark Cuban

Solsource is a unique solar-powered grill that can reach high temperatures above 500 degrees Fahrenheit in seconds and cook a full meal in a matter of minutes. There is also a portable solar-powered grill that can easily be transported to just about any location that receives exposure to sunlight.

If there’s enough sunlight to see your shadow, the solar-power grill can be powered purely by sunlight, according to Catlin. She claimed that her solar-powered grill from Solsource heats up several times quicker than a traditional grill.

The smaller portable version of the solar-powered grill is sold at a price point of $300 while the larger system is sold for $500 per grill. The company’s gross margins are about 80% when the company sells directly to customers.

The sharks wanted to learn about Solsource’s sales numbers, but they were confused when they realized that Catlin had more than $1 million in lifetime sales and had only generated $100,000 in the previous calendar year.

Several of the sharks were impressed, but most of them could not find enough confidence in the company to make an investment. Lori Greiner decided to drop out and Robert Herjavec quickly followed as well. Most of the other sharks also dropped out, but Mark Cuban decided to make an offer of $500,000 in exchange for 4% equity. Catlin accepted Mark’s offer since it was her only option remaining.

Our Solsource update may be shocking to some people because it appears that the company shut down in the 2020 calendar year. The unique solar-powered grill was one of Mark Cuban’s largest investments on Shark Tank but the company didn’t survive very long after appearing on Season 9.

It looks like this is going to be our final Solsource update.

You can find the other company updates from Season 9 Episode 22 here:

Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from Shark Tank Season 9.

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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!