Solar Business Hub
PVpallet, LLC launches first-to-market collapsible pallet system for solar modules
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.
$807,956
raised
124
Investors
$18.5M
Valuation
$25.00
Price per Share
$400.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left
This offering ended on February 23, 2022 and is no longer accepting investments.
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.
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
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.
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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
FINAL REMINDER
3 months agoPVpallet closes tonight at 11:59 PM Pacific Time.
Thank you for following along throughout our raise.
Want to keep in touch?
Follow us on your favorite social platform.
- Linkedin: linkedin.com/company/pvpallet/
- Facebook: facebook.com/pvpallet
- Twitter: @pvpallet
Don’t let our capital raise close without YOU!
3 months agoToday is the day.
2-22-22 marks the close of our capital campaign. There’s still a little time left to join our Investor Family – so don’t delay!
2-morrow is the day! Our campaign closes 2sday, 2.22.22.
3 months agoInvest in PVpallet before it’s 2 late.
Still interested in investing in PVpallet? Don’t delay! Our campaign closes 2-morrow, 2sday, 2-22-22 at 11:59 PM Pacific.
Please continue to reach out to us with any questions or comments about our company and thank you so much for your support! We look forward to hearing from you.
We passed $600k - Thank you PVpallet Community!
3 months ago
Dear PVpallet Community,
It all started in January 2019 when Luke Phelps looked at a stack of broken solar modules at a job site and thought, “What if there was a better way?” Here we are, three years later, with a solution that is making the solar industry say, “Finally!”
Now there is a better way. What a journey.
With more than $600k raised in our first equity crowdfunding raise, we are truly blown away by your generous support. Thank you for supporting our vision to reduce waste and change the way solar modules are shipped.
Thank you for helping us dream big and rethink solar shipping.
The PVpallet Team
How do PVpallet’s slider handles impact shipping efficiency?
3 months agoThe Problem: Shipping on Wood Pallets
- Solar modules are shipped vertically. Because solar modules are so heavy, they generally can’t be stacked horizontally to be shipped. Instead, modules are put upright in boxes and reinforced with banding, then they are placed on wood pallets for transport.
- Solar modules are difficult to unpack. When the modules are ready to be used, the banding is cut and the modules fall over like dominoes. This makes unloading modules cumbersome and labor intensive. It can also cause injuries if there are not enough workers available to unload the modules.
- Solar modules need to be repacked. Installations are rarely in increments of 30—the number of modules shipped on each pallet. For example, residential jobs generally require exactly 1.5 pallets of modules. Getting the extra modules back to the warehouse without damage can be a challenge.
- Solar modules need to be replaced. When solar modules are decommissioned, or taken down, they are often reused at another site or reinstalled in the same location. Either way, they need to be protected until they are used again.
The Solution: PVpallet’s Slider Handles
- Slider handles simplify the loading and unloading process, allowing a single person to remove modules—without a domino effect.
- Slider handles hold partial loads of modules securely in place, making it easier to return unused modules to the warehouse and store used modules during a decommissioning project.
Will you join us as we change the future of shipping solar modules?
Our Campaign Will be Closing 7 Days!
3 months agoIf you have been waiting until one week before the closing date to join our investor family, today is your day! Our offering closes next Tuesday, February 22.
Please continue to reach out to us with any questions or comments about our company and thank you so much for your support! We look forward to hearing from you during these last days of our StartEngine campaign.
Top 10 Reasons to Love PVpallet (And 1 Way You Can Love It Back)
3 months ago-
It’s practical. For many in the solar industry, it’s love at first sight. That’s because PVpallet solves real problems like partial loads, stacking, module protection, and more.
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It’s adjustable. Solar modules are anything but standard when it comes to size. That’s why PVpallets have adjustable sidewalls that ensure various size modules are held securely in place. With an industry average of 2-5% module breakage rate during shipping and handling, protective sidewalls are a must.
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It’s stackable. PVpallets are stackable up to four high with sidewalls that ensure none of the weight whatsoever is supported by the modules during stacking. As a result, PVpallets can function as a dynamic, durable, temporary warehouse storage solution, saving time, space, and resources.
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It’s made of old plastic. PVpallet are made from post-consumer plastic. In other words, HDPE plastic like milk jugs and laundry detergent bottles are ground down and fed into the machine that makes PVpallets. It takes approximately 1,000 milk jugs to make each PVpallet. So, for every megawatt of solar installed using PVpallets, 80,000 milk jugs are put to good use shipping and protecting solar modules.
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It’s reusable. Like your favorite reusable water bottle or coffee mug, PVpallets can be used over and over again—adding value with each use.
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It saves trees. I mean, who doesn’t love trees? By replacing single-use wood pallets, each megawatt of solar installed using PVpallets prevents an estimated 4,000 pounds of wood waste from being thrown into landfills.
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It’s easy to use. During the 2022 Solar Games at Intersolar, we had a front-row seat to watch expert installers use PVpallets for the first time. Our pallets performed as expected—proving to be the practical solution we designed them to be.
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It’s recyclable. When a PVpallet finishes its usable lifecycle, it can be returned for a reclaim value (just like old coke bottles). It is then ground down and made into a new PVpallet.
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It’s one of a kind. PVpallet disrupts the status quo of shipping solar modules on single-use wood pallets. We spent years developing a sustainable solution for shipping solar modules—a solution that improves efficiencies and reduces costs throughout the entire solar supply chain, from solar manufacturing, solar distribution, and solar installation to warehouse storage and pallet waste disposal.
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It gives back. Did you know that PVpallet gives back 1% of revenue? 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.
I mean really, what’s not to love?
Show PVpallet some love. If you’d like to join us in rethinking solar shipping by investing in our campaign, don’t delay! Our offering closes next Tuesday, February 22.
PVpallets Are Made of 100% Post-Consumer Plastic
3 months ago
No virgin, or new, plastic is used to make a PVpallet. Instead, we use HDPE that has already been used at least once. It takes the equivalent of 1,000 milk jugs to make each PVpallet. That means each PVpallet not only prevents 20+ wood pallets from ending up in a landfill, it also takes 1,000 milk jugs out of landfills.
Now scale that up. For each megawatt of solar installed, 80 single-use pallets (4,000 pounds of wood waste) are kept out of landfills and 80,000 milk jugs are put to good use: shipping solar modules.
Finally, once a PVpallet ends its usable life cycle, it can be returned and fully recycled into a new PVpallet.
Will you join us in changing the future of shipping solar modules?
PVpallet and Warehouse Efficiency
3 months agoWhen we talk about wood waste, it’s more than just single-use pallets that end up in landfills. It’s lost time, broken modules, handling issues, and more.
Let’s talk about warehouse space.
The Problem: Modules stored on traditional wood pallets are only stackable up to two high. Stacking any higher than two results in breakage due the weight of the solar modules. As a workaround, special shelving units are sometimes built to maximize space—but this solution is costly and lacks flexibility.
The Solution: PVpallets are stackable up to four high and sidewalls ensure none of the weight whatsoever is supported by the modules during stacking. As a result, PVpallets can function as a dynamic, durable, temporary warehouse shelving solution that protects the distributor’s valuable solar modules.
Our offering ends in just two weeks. What are you waiting for?
3 months ago
2021 was a big year for PVpallet. We went from conceptual ideas to a physical product we could test with key industry stakeholders—with a lot of other milestones in between.
We kicked off 2022 with a hugely successful trade show where we introduced our product to the industry—and they loved it! Pre-order requests have been submitted for all 500 units of our first production, plus another 200 for our second run. We can't wait to see what the rest of the year will bring.
Don’t delay. Join us as we change the future of solar shipping!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
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