Shark Tank update: What happened to SolSource after the show?

Dr. Catlin Powers appeared on Shark Tank in season 9, episode 20 to pitch her solar cooking stove, SolSource. She claimed that her solar cooking stove heated up faster than a charcoal grill and could be used in remote areas and during natural disasters.

Through these solar cookers, her company One Earth Designs aimed to provide clean, efficient cooking in remote areas and reduce their dependence on fossil fuel.

Shark Mark Cuban secured a deal with the founder for $500,000 in exchange for a 4% equity stake. A year and a half later after appearing on the show, One Earth Designs shared through their Facebook post on January 3, 2020, that they were shutting down.

They did not share any specific reason, however, they informed their supporters that they would continue their non-profit branch to carry out their "global social impact mission through humanitarian projects".

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Shark Tank: SolSource releases a statement on shutting down

During her appearance on Shark Tank season 9, episode 20, Dr. Catlin Powers sought $500,000 in exchange for a 3% equity stake in her business. She shared that their solar cooking stoves were 5 times faster than a charcoal grill and users could adjust the heat by manipulating the panels.

Dr. Catlin said that their regular models are priced at $249, while the Sport model is priced at $499, with an impressive 80% profit margin. Both models are sold online. At the time of filming in 2017, they had a total of $1.3 million in sales and were expecting $500,000 by the end of the year.

After all the sharks took their exit, Mark Cuban made a deal with the founder for $500,000 for 4% and a seat on the board. However, according to Shark Tank Blog, Mark never closed the deal later.

While the reason remains unclear, One Earth Designs announced through a January 3, 2020 post that they were ceasing operations and were closing down.

"One Earth Public Benefit Corporation (doing business as One Earth Designs and seller of SolSource Solar Cookers) will cease operations as of January 1, 2020. Our non-profit branch will continue to carry out our global social impact mission through humanitarian projects and the continuing evolution of solar-thermal technologies alongside our partners worldwide," the statement reads.

The company expressed its gratitude to all of its customers, and partners, who were by its side and supported them from their origins "in the Himalayas to delivering solar energy for cooking to families in more than 70 countries around the world."

While they were closing their operation the company informed its SolSource user base that they would offer "up to 6 months of continuing customer service from January 1, 2020, to June 30, 2020."

"To protect our customers, we will delete all contact information after Dec 31, 2019 except that necessary to maintain customer service support. We will delete customer service records on July 1, 2020. We want to thank you for being part of this journey with us, " the company added.

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SolSource's origin

Dr. Catlin Powers shared during her Shark Tank pitch that she started her company as a philanthropic gesture, delivering over 6,000 solar ovens to remote Tibetan villages to provide a clean and green alternative.

For SolSource Stoves, Dr. Catlin Powers successfully raised $142,413 from the Kickstarter community in 2013. In 2017, she secured additional funding of $155,373 through Kickstarter and $166,393 through an IndieGoGo campaign.

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Shark Tank season 16 episodes are currently airing on ABC.