PVpallet

Reusable Solar Shipping Solutions

PVpallet

Reusable Solar Shipping Solutions

Montrose, IA
Clean Technology
PVpallet is dedicated to disrupting the solar shipping industry with a recyclable, reusable, collapsible pallet system. Designed specifically to revolutionize the way solar panels are handled and distributed, industry-wide adoption of our unique product could reduce the wood waste created by the US solar industry by over 60 million pounds per year. PVpallet aims to improve efficiencies and reduce costs throughout the entire solar supply chain. PvPallet is currently undergoing testing and is making final modification to the injection molds. Full-scale manufacturing in planned to begin in Q1 2022.

$406,199

raised
56
Investors
$18.5M
Valuation
$25.00
Price per Share
$400.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

$406,199

raised
56
Investors
$18.5M
Valuation
$25.00
Price per Share
$400.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into PVpallet:

$400+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
Early Bird Bonus
Invest within the first two weeks and receive an additional 8% bonus shares.
0
days
23
hours
36
mins
34
secs
$1,000+
Investment
First Volume Tier: $1k+
$1000 to $5000 = Exclusive access to PVpallet annual investor newsletter
$5,000+
Investment
Second Volume Tier: $5k+
$5,000 to $9,999 investment = 5% bonus shares
$10,000+
Investment
Third Volume Tier: $10k+
$10,000 to $24,999 investment = 8% bonus shares
$25,000+
Investment
Fourth Volume Tier: $25k+
$25,000+ investment = 12% bonus shares

Reasons to Invest

Improved cost efficiencies: PVpallets can be reused an estimated 20+ times, eliminating the cost of new wood pallets for every project.
Positive environmental impacts: PVpallets are made from recycled plastic and are reground into new pallets at the end of their life cycle. As a replacement for wood pallets, this solution prevents unnecessary deforestation, reduces the solar industry’s carbon footprint, and could prevent over 60 million pounds of wood pallet waste from entering US landfills every year.
Reduce solar panel damage: According to our research, an average of 2-5% of the solar panels shipped on wood pallets arrive at the job site damaged and unusable. PVpallet provides additional protection from damage with adjustable sidewalls and cross braces.

OVERVIEW


A sustainable solar shipping solution.

The team at PVpallet has zeroed in on a huge problem: the solar industry typically ships solar panels on single-use wood pallets. These pallets are usually discarded in U.S. landfills, creating over 60 million pounds of wood waste in 2020 alone. As the solar industry continues to grow, the waste problem will grow along with it. 


The waste problem extends beyond material waste to include damaged solar modules, transportation costs, and unnecessary expenditures of time and labor. PVpallet aims to revolutionize the solar industry with its fully recyclable, reusable, and collapsible pallet system specifically designed for shipping solar panels. We believe our industry and our planet deserve better—and we’re here to make a change.



Why does an industry built on sustainability create so much waste?


While performing rural solar PV installations in Northern Missouri, Luke Phelps and his team quickly realized the amount of waste, lost time, and expense associated with the way solar panels were shipped to installation sites--on single-use wood pallets. Luke saw his warehouses overrun with partial pallet loads, his shipments arriving on site with broken panels, his installers dealing with stacks of panels falling over once the banding was removed and, most notably, the expense and rampant waste of procuring dumpsters to offload the immense amount of disposed wood pallets at the end of every job. 


Luke knew there had to be a better solution.


Inspired by the reusable bins for shipping seed to farm sites, Phelps and Steven Kottwitz designed the initial concept for PVpallet in 2019 with several goals in mind:


Minimize waste by using material that could be recycled into new PVpallets

Reduce solar panel breakage

Stack several pallets without putting weight on the solar panels themselves


Knowing the right team is essential to success, Phelps shared the concept with Philip Schwarz and Ethan Wollbrink, establishing the core foundation of PVpallet, Inc. This team of co-founders has a combined 35 years of experience in the solar industry, enabling them to clearly see gaps in the supply chain that a better shipping solution could solve.


PVpallet is in the pre-revenue stage of development. Currently, we are undergoing testing and making final modifications to the injection molds. Full production is expected to begin in Q1 2022. PVpallet holds two provisional US patent filings, one non-provisional utility US patent filing, and one PTC filing for international IP protection.


*Image is a computer generated demo version.




THE PROBLEM


Wood waste, module breakage, and inefficient storage

The U.S. solar industry’s use of single-use wood pallets for shipping solar panels to project sites is estimated to have created over 60,000,000 pounds of domestic wood waste in 2020 alone. The global solar industry waste is estimated at 10 or more times that amount. What’s more, based on our research, an average of two to five percent of solar panels arrive damaged and unusable. This damage is due to lack of protection during shipping.


And the problem extends beyond waste. Wood pallets are not easy to use. The lack of structural support means pallets can only be stacked two high, resulting in limitations on the warehouse space available for storage. Partial load shipments and module offloading are also difficult to manage. Once the bands around the panels are cut, they can no longer be moved by forklift. This makes partial loads labor intensive and inefficient. Then there's the cost. Wood pallets for solar modules are custom made. At an average cost of $80 per pallet, the solar industry spent more than $126,000,000 on single use wood pallets last year alone*. Simply put, the status quo for shipping solar panels is not sustainable.


*Calculation made based on internal research

*Estimates based on 19.2 GW of solar installed in the United States in 2020


Source | Source | Source


THE SOLUTION


A pallet designed for efficiency and sustainability

PVpallet is a purpose-built shipping solution to not only replace, but improve upon the status quo of single-use wood pallets. PVpallets are made of post-consumer HDPE plastics. Common household items like milk jugs and laundry detergent bottles are ground and fed directly into the injection mold machine. 


According to our calculations, PVpallets can be reused at least 20 times. They are designed to be returned at a 5:1 ratio for reuse. For every 5 truckloads of solar panels sent to a project site, only one truck needs to return with empty pallets. Once a PVpallet has finished its life cycle, it will be returned to the manufacturing plant, sent through plastic grinders, and placed back into the injection mold hopper to be made into a new PVpallet. 


Beyond providing a sustainable solution, PVpallet also improves efficiencies and reduces costs throughout the entire solar supply chain. Sliding locks and tabs support partial loads and the adjustable sidewalls accommodate for various module sizes while protecting loads in transit. PVpallets are also stackable up to four high, reducing warehouse storage by as much as 50%.




*Video is a computer generated demo version.


PVpallet Quick Stats: 

  • Reusable, recyclable, and stackable.
  • Built with side walls and cross braces for added protection.
  • Made from fully recyclable Type 2 HDPE. 
  • Designed to securely hold 2 to 27 solar panels. 
  • Built with removable side walls and locking trackbar for improved handling and return shipping.  




THE MARKET


Over $50M in uncaptured revenue

The Global Solar Power Market Size was estimated at USD 170.55 billion in 2020. That is equivalent to over 115 gigawatts of capacity (about 9.5 million pallets of solar panels). While global solar market values vary from source to source, all anticipate a consistent upward trajectory--ranging from from 6.9% to 20%. The market is anticipated to reach upwards of $293.18 billion by 2028. 


The growth of the US Solar Power Market is even more aggressive. Despite the pandemic, installations reached 19.2 gigawatts of new capacity in 2020, a 43% year over year growth. According to our calculations, installing that much capacity would require 1.5 million pallets. What's more, installations are expected to quadruple from current levels in the next decade. 





OUR TRACTION


Ready for full-scale production in Q1 2022

The PVpallet team is ready to disrupt the solar shipping industry with a unique shipping solution that will become an asset to solar companies—not a landfill-bound liability. We have already begun receiving investments from major sources, including the U.S. DOE SETO program’s grant of $500K and $1M in VC funding from ISA Ventures. 


The need for an alternative to traditional wood pallets as a shipping method for solar panels is recognized throughout the solar supply chain. We are currently being approached by several major solar module manufacturers, distributors, installers, and solar recycling companies for our unique solution.


We are being sought out by several major solar module manufactures, distributors, shipping, and Installation, solar recycling companies for our unique solution. All levels of handling solar modules are seeing the need for this system



Our Timeline:

  • Q3 2021: Injection molds fabricated by MSI Mold Builders
  • Q3 2021: The first PVpallets scheduled for limited production run of 150 units
  • Q4 2021: Limited production PVpallets undergo testing and final modifications
  • Q1 2022: Full-scale PVpallet production scheduled to begin
  • 2022-2023: PVpallet lease model projected to launch, making PVpallets available as an on-demand service

*The above information includes anticipated timelines and goals.

WHY INVEST


Improve the solar industry and beyond

The growth potential for PVpallet is immense. Our lease model will open us up to the largest solar panel manufacturers in the world. We plan to capture at least 25% of the U.S. solar market and 5% of the global solar market within the first 5 years. Within the next 3-5 year timeframe, we plan to expand our product to other industries. Our PVpallet design can easily be transferable to shipping outdoor power equipment, doors and windows, flat screen TVs, and other large format, fragile products.


Offsetting waste generated from wood pallets is just the beginning. As a 1% for the Planet Business Member, we aim to work with organizations that directly offset the environmental impact from wood pallets and help the reusable pallet material supply chain.


Bottom line: we want to make a sustainable difference. Will you join us?


We invite you to invest in the future of the industry and help us make clean energy more sustainable and economical.





In the Press

Solar Business Hub

PVpallet, LLC launches first-to-market collapsible pallet system for solar modules

PV Magazine

PVpallet claims to improve efficiencies and reduce costs across the solar supply chain — from manufacturing, distribution, and installation to storage and waste disposal.

PV Magazine

Too big to handle

Solar Power World

PVpallet releases adjustable, reusable plastic solar module shipping pallets

Reusable Packaging News

PVpallet Offers New Approach to Solar Shipping with Adustable Plastic Pallet Shipping System

PV Magazine

Startup Saturday: Greening the freight shipping chain for solar

Solar Power World

Recyclable plastic pallets for solar modules enter test market

The Gazette

1 Million Cups: PV Pallet of Cedar Rapids offers a more sustainable way to ship solar panels

Offering Summary


Company

:

PVpallet, Inc.

Corporate Address

:

2495 280th, Montrose, IA 52639

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,070,000.00

Minimum Investment Amount

(per investor)

:

$400.00











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

400

Maximum Number of Shares Offered

:

42,800

Price per Share

:

$25.00

Pre-Money Valuation

:

$18,497,525.00











Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Investor shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Investor’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Investor, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Investor pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Investor is an individual, will survive the death, incompetency and disability of the Investor and, so long as the Investor is an entity, will survive the merger or reorganization of the Investor or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Investment Incentives and Bonuses*

Time-Based:

Friends and Family Early Birds

Invest within the first 72 hours and receive an additional 15% bonus shares. 

Super Early Bird Bonus

Invest within the first week and receive an additional 10% bonus shares.

Early Bird Bonus

Invest within the first two weeks and receive an additional 8% bonus shares.

Amount Based:

First Volume Tier: $1000 to $5000 = Exclusive access to PVPallet annual investor newsletter

Second Volume Tier: $5,000 to $9,999 investment = 5% bonus shares

Third Volume Tier: $10,000 to $24,999 investment = 8% bonus shares

Fourth Volume Tier: $25,000+ = 12% bonus shares

*All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

PVpallet, Inc will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $25.00 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $2,500. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Inter company debt or back payments. Vendor payments. Salary payments made to one’s self, a friend or relative.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$21,537.00 USD
$0.00 USD
Cash And Cash Equivalents
$13,513.00 USD
$0.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$19,970.00 USD
$0.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$17,670.00 USD
$0.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

How Sustainable is PVpallet?

3 days ago



Q. How sustainable is PVpallet if plastic is an oil-based product? (We get this question a lot).

A. PVpallets are made entirely from post-consumer and post-industrial recycled HDPE plastic grind. These ground-up pieces of recycled plastic are fed directly into our molds to make PVpallets. The colored pieces are being recycled for the first time. Think milk jugs, laundry detergent bottles, and soap dispensers (or any other HDPE plastics). Once a PVpallet finishes its life cycle, it can be ground up and fed right back into the molds to create a new PVpallet.

What questions do you have about PVpallet? Ask them in the comments!

We reached 300k - Thank you PVpallet Community!

5 days ago


Dear PVpallet Community,

Our first ever online public offering has been live for one week! In just a matter of days, we have reached over $300k in committed capital. We are blown away by your generous support.

If you want to take advantage of the early bird offering (8% bonus shares), you have through Tuesday, December 7th to make an investment.

As always, if you have any questions—or just want to express your excitement—please let us know in the comments. We will try to reply to all comments within one day throughout the beginning of this offering.

We can’t thank you enough for joining us on this journey as we rethink solar shipping.


Stay sustainable!

The PVpallet Team


Fun Co-Founder Trivia:
As installation frustrations increased, Luke and Steven knew they had to figure out a better way to handle solar modules. They decided to break apart and brainstorm independently, then come back together and bring their ideas to the table. In Luke’s own words, “We had some pretty gnarly ideas!” They took the strongest concepts and continuously evolved the product to where it is today.

Show More Updates End of Updates

Comments ({{profileCtrl.startup.comments_count}} total)

{{profileCtrl.newComment.body.length}}/2500
Please sign in to post a comment.
Please use Updates for communications.
{{ profileCtrl.commentsLoading ? 'Loading...' : 'Show More Comments' }}