PVPower Closes $290k Tranche, Reveals Sneak Peek of SolarBear & Forges New Partnerships

June 29, 2011

Yesterday, I wrote the following email to members of my professional network.  Maria encouraged me to share it the broader Chicago community.  Fantastic idea!  See the below to learn more about our business, PVPower.  Thanks for the suggestion, Maria!


Here is the elevator pitch:  PVPower is developing a digital marketplace called SolarBear that makes residential solar power scalable, repeatable and accessible to the mass-market.

Dear Friends of PVPower,

From time to time, we like to reflect on the business, review our progress and share our excitement with the community.

If you're interested in more-regular updates, consider following NickDan or PVPower on Twitter.

Projects & Business
  • Chuck VonDrehle, one of Chicago's few NABCEP-certified solar professionals, joined our team full-time as VP, Sales & Engineering
  • Record-breaking gross profit from sales in Q1
  • Led a solar training session in partnership with InfiniteSolar and Bright Electric Supply Co. in Chicago
  • Working with City of Chicago, ELPC & others to help Chicago apply for the DOE SunShot grant Rooftop Solar Challenge to Induce Market Transformation
  • Some of our new customers include Commonwealth Construction Company, Southern Electric Works and Freedom Renewable
SolarBear Software
  • First ever public screenshot of SolarBear in action - it hasn't been skinned, polished or launched yet but we're excited about all of the progress
  • 860+ users of our alpha product, System Designer (no advertising)
  • With 4-months of pre-launch development under our belts, SolarBear can now build 88% of residential PV system configurations
    • Real-time pricing, availability and shipping
    • SolarBear creates 88,670 and growing solar system variations
  • We're looking to hire incredible front-end designers and developers and would love to meet your recommendations - please send to [email protected]
Press & Buzz
Fundraising & Partnerships
  • We closed $290k of Series A preferred on May 6th from IllinoisVENTURES and professional angels bringing our total closed or committed funds to $640,000
  • We intend to raise an additional $100,000 - $300,000 and are targeting a final closing for July
  • We're exploring a 1% For The Planet partnership with the American Solar Energy Society and are strengthening partnerships with InfiniteSolar, Bright Electric Supply Co. and others
  • We've partnered with GreenChoiceBank, a recommended bank for social entrepreneurs or investors
Solar Industry Headlines
Note: This is not a solicitation for investment.  If you're interested in investing, please contact the Company.

Thank you for all of the continued support!  We're proud to be a part of Chicago's vibrant start-up community and we're looking forward to seeing it grow and thrive.
Warm Regards,
Dan, Nick & Jeano
If anyone is interested in learning more about our business or would like to connect; let me know!