Solsource Grill Update | Shark Tank Season 9

Traditional cooking methods in developing areas often rely on deforestation for firewood. Dr. Catlin Powers created the SolSource, a solar cooker, to address this environmental issue. This innovative design provides a clean and sustainable cooking solution for those lacking access to electricity or traditional fuels. In our Solsource update, let’s see if Catlin can convince the sharks to part ways with their money.

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

Catlin Powers pitched her invention, the SolSource, on Shark Tank Season 9. She sought a $500,000 investment for a 3% stake in her company. After an engaging presentation, she secured a deal with Mark Cuban for $500,000 in exchange for a 4% ownership stake.

In terms of a SolSource update, the company is no longer in business and has ceased operations. 

Shark	Result
Mark Cuban	Accepted offer of $500,000 for 4% equity
Lori Greiner	No offer
Rohan Oza	No offer
Robert Herjavec	No offer
Barbara Corcoran	No offer

Shark Tank Solsource Pitch

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

Catlin enters Shark Tank Season 1 to pitch SolSource with hopes of landing an investment from one or more of the sharks. 

Catlin explains that the SolSource resembles a satellite dish in design. The dish is covered in reflective material that concentrates the sun’s heat onto a small, adjustable pot stand located in the center. This allows for cooking food using only the power of the sun. 

She elaborated further on SolSource’s capabilities. On a bright sunny day, it can generate enough heat to cook a burger in just ten minutes.

To cater to different needs, she offers two models: a larger “classic” version ideal for home use priced at $500 and a more compact and portable “sport” model priced at $300. 

Both models are versatile and can be used for grilling, sautéing, and frying. Importantly, the reflective surfaces remain safe to touch despite the high heat they generate. They are resistant to scratches and are completely recyclable, making them an eco-friendly choice. 

Catlin mentions that through three crowdfunding campaigns, she has already raised over $460,000.  

She also mentions that she holds two patents for SolSource’s design. She envisions the product serving a dual purpose. In developing countries, it can be a sustainable alternative to traditional cooking methods that contribute to deforestation. 

This would benefit rural communities that often rely on cutting down trees for fuel. 

Catlin emphasizes SolSource’s usefulness beyond everyday cooking. She points out its value in emergency situations. For example, during natural disasters like hurricanes, power outages can disrupt traditional cooking methods.  

In her community, some residents struggled to cook for weeks after a storm due to limited propane availability. The SolSource offers a reliable cooking solution during such times, as long as there is sunlight. 

Robert Herjavec wants to know how long it takes to heat up. Catlin responds that the SolSource cooks food up to five times faster than a traditional charcoal grill. 

She also explains that the heat intensity can be adjusted by simply moving the reflective panels. 

Catlin then details the pricing structure. The standard SolSource model is priced at $249, while the more portable Sport model costs $499.  

She highlights their strong profit margins of 80% and mentions the product is sold directly through their online store. The company boasts total sales of $1.3 million to date and projects an additional $500,000 in sales by the end of  2017.  

After a well-detailed pitch, Catlin faces mixed reactions from the sharks. 

Lori Grenier believes the barbecue market is competitive, and she’s out for that reason. 

Robert, echoing Lori’s concerns, decides to back out as well. 

Barbara Corcoran disagrees with Catlin’s valuation and exits the deal as well.  

Guest shark Rohan Oza shows interest in the concept but finds the technology underdeveloped, so he opts out.

Mark presents a unique offer. He is impressed by her confidence and challenges Catlin to disrupt the market significantly. He then proposes an investment of $500,000 for a 5% equity stake.  

Catlin counters with a 4% stake and a seat on the company’s board. Mark accepts her counteroffer, and they make a deal.  

Was this a good partnership for Mark and Catlin? Let’s find out in our Solsource update. 

Shark Tank SolSource Update 

Despite reaching an agreement with Mark Cuban on Shark Tank, the deal ultimately fell through. 

Further, our SolSource update research found the company closed its doors at the end of 2019.  

In a public statement, the company explained its decision as a shift in focus. It would continue its mission through its non-profit arm, working on social impact initiatives and advancements in solar technology with global partners.  

They expressed their appreciation to all who supported their journey in bringing solar cooking solutions to families in over 70 countries.

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:

• Gunnar Optiks Update
• Avocaderia Update
• Sunniva Super Coffee Update

Before you go, be sure to check out our Shark Tank Season 9 page for more updates.