Two entrepreneurs from Salt Lake City, Utah, David Toledo and Caleb Light, pitched PowerPot on Shark Tank in 2014. It’s a portable thermos-electric generator in the form of a cooking pot that not just boils water but also charge devices through its built-in USB port. The PowerPot works on almost any heat source – campfire, wood stove, propane heater, even a hot spring. Toledo and Light went into the Tank asking for a $250,000 investment in exchange for 10 percent equity. They got the $250k from Mark Cuban in exchange for 12 percent and 3 percent in advisory options and a seat on the company’s board.
Since then, Power Practical has released a number of new products including a $30 windproof and rechargeable lighter with a built-in LED flashlight that produces 15 lumens of light (see link above). They’re next big product is Jül, a smart mug that keeps drinks hot all day long, which they plan to sell for $69.99. Shark Tank airs Fridays at 9pm on ABC.
