2021 in Review (Plus a Quick Look Forward to 2022)
To say that 2021 was a big year for PVpallet is an understatement. 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 are immensely proud of our team and all that we have accomplished. But we aren't done. We are gearing up for an even bigger 2022.
Here’s a quick year in review:
Q1 2021
Concept. Developed a conceptual design that would solve key problems we saw with the status quo of single-use wood pallets. Ease of use and waste reduction were at the top of our list.
Prototype. Built a full-scale prototype that allowed us to troubleshoot small parts and minimize changes prior to mold fabrication.
Molds. MSI Mold Builders began fabricating the molds for the Gen 1 PVpallet.
Q2 2021
Personnel Growth. Hired co-founder and product designer Steven Kottwitz as a full-time employee of PVpallet, Inc.
Funding. Closed on $1M in venture capital from ISA Ventures, providing the capital to further develop the product and fund injection mold fabrication.
Q3 2021
Sample Units. Mold fabrication is complete and sent to 20/20 Custom Molded Plastics, who manufactured 150 full-scale Gen 1 sample units.
Warehouse Space. Signed office lease and 50,000 sq. ft. warehouse lease for headquarters in Montrose, Iowa.
Testing. Sample units sent to key industry stakeholders for testing and feedback.
Q4 2021
Live Demo. Unveiled PVpallet to the solar industry in a live virtual demo followed by a Q&A session with the founders.
Equity Crowdfunding. Crowdfunding opens on Startengine, raising over $300k in the first week.
$500k Grant. $500k grant from the U.S. Department of Energy SETO program novated to PVpallet, Inc. with projected use of funds in 2022-2023 for further research and development.
Mold Modifications. Based on sample unit testing and feedback, mold modifications are finalized and PO is signed for changes.
Plans for 2022:
Debut. PVpallet will make its grand debut at Intersolar in January
Full Production. Final mold modifications will be complete and the first full production run is scheduled for March 2022.
Hiring. Five additional key staff members will be added to our team in Q1 2022, with a focus on management, sales, and supply chain.
Sales. Securing channel sales agreements with key solar industry product distributors.
More. Big things are happening by the month, day, and even hour. We just can’t share them all quite yet. Stay tuned!
Thank you for being part of this journey with us. We couldn’t do it without you.