Solar Business Hub
PVpallet, LLC launches first-to-market collapsible pallet system for solar modules
OVERVIEW
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
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
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:
THE MARKET
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
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:
*The above information includes anticipated timelines and goals.
WHY INVEST
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.
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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 |
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.
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.
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Today 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!
Invest 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.
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
The Problem: Shipping on Wood Pallets
The Solution: PVpallet’s Slider Handles
Will you join us as we change the future of shipping solar modules?
If 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.
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.
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?
When 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.
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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