Peppermint Energy Start Up SHINES
Sunday, November 29, 2015
Peppermint Energy was founded 2011 with goal of bridging the energy-access gap that exists worldwide. To accomplish this goal, Peppermint operates in the huge gap that exists between utility scale solar and ‘trinkets’ to charge your phone, and has created the FORTY2. The FORTY2 is a portable solar generator that combines all the elements of an electrical grid into a small, mobile unit. And it’s more than a kit or a dress-up battery – the FORTY2 is a true solar power supply that works even when the sun isn’t shining. To date, Peppermint has shipped solar generators to 20 countries, with more countries being added quarterly.
As a start-up, Peppermint Energy made the capital-efficient decision to rely on manufacturing partners to build the FORTY2’s, while still being made in the USA. Manufacturing & Technology Solutions (MTS) was called on to identify and interview potential manufacturing partners, including guidance on appropriate ways to evaluate potential partners.
MTS and Peppermint’s Management team assessed the capabilities needed, capital investment and startup from ground zero risks related to putting Peppermints’ own brick and mortar in place to manufacture their product. This process identified the need to find a partner to manufacture the product. Using MTS’ recommended selection criteria matrix and Peppermint doing their own due diligence resulted in a South Dakota contract manufacturing partners being selected by Peppermint as their partner to successfully launch the product.
A three way partnership between Peppermint Energy, MTS, and the manufacturing partner resulted in a win-win-win business opportunity.
"MTS served as a mini-COO for us at one of our most vulnerable times. We couldn't afford to hire the expertise and connections that they brought to our project. As a result, we were quickly able to get across the finish line of first project, and quick start on the next project: actual manufacturing. We were very impressed with the ability of MTS to align our project goals with the reality of being an under-staffed startup."
~Brian Gramm, CEO
- Added sales of $2,500,000 annually
- Investments of $400,000
- Exports to over 20 countries
- Made in America
- Created a thriving and growing business from a startup to commercialization
Categories: Success Stories