Solstice Power is a startup company that was founded in 2012 by James Shomar with the goal of lowering energy costs and reducing the carbon footprint. Shomar and his team developed a special and proprietary solar panel, which they named the Solstice Hybrid System. The system which they developed can cut the cost of a standard solar power system to nearly ⅓ of the industry standard. Solstice Power is diligently working to change the solar power industry for the better.
Shomar and Solstice Power discovered that companies were using ineffective solar cell mounting technologies. These ineffective technologies prevent the solar cells from working to their full potential, which in turn can increase cost. Solstice Power created a cell mount that is built to withstand the increased amount of Concentrated Photovoltaic systems. The Solstice system essentially works to keep the solar cell chips cool while withstanding a great amount of heat – decreasing cost and improving efficiency. The Solstice Power team has years of experience in heat transfer and wanted to test their hypotheses and now have moved onto creating a physical prototype.
James and the Solstice Power team have been working with Paul Brooks. Brooks is an Entrepreneur-in-Residence that Launch NY provided to Solstice Power for entrepreneurial guidance throughout the startup process. The Entrepreneur-in-Residence program was started so that startups and entrepreneurs could gain knowledge and insight from professionals who have years of experience. James admits there have been many hurdles throughout the life of his company and is glad that he can lean on Paul Brooks for his intellect and experience. “Launch NY, and specifically Paul Brooks, has been a tremendous help to our team,” said Shomar. Both Brooks and Shomar enjoy working together and have already made some decisions that have helped the company move forward.
James Shomar says that one of the issues the team was facing was finding potential clients. “We found finding customers on our own to be extremely difficult,” said Shomar. He maintains that this is a crucial part of the growing process. Paul Brooks helped to develop a customer base by contacting potential clients for Solstice Power. “Paul has arranged for multiple conversations and interviews with potential customers,” said Shomar. Paul Brooks speaks with the Solstice Power team on a monthly basis, sometimes more, and recently worked with the team to help develop and implement a new business model strategy. James maintains that it is extremely important to be agile with your business strategy, especially in the tech industry. “Paul has been very helpful in finding the best path forward to navigate the various market forces and tech development requirements we are facing internally,” said Shomar. The Solstice Power team has been able to progress as a company in a positive direction because of the help from Paul Brooks and Launch NY.
It hasn’t been all smooth sailing for Solstice Power. They admit they have faced many logistical hurdles in the very early stages of their business. The new business plan that they developed with the help of Paul Brooks, worked to alleviate the pain of the logistical issues. The future for Solstice Power is very bright. In the upcoming months the team is planning on making some major moves. They are planning to file their non provisional patents. They are also in the process of developing an automated assembly process to produce a higher accuracy prototype. Most importantly they want to begin licensing discussions with potential customers.
Follow Solstice Power as they continues to grow into a successful startup company in the following months. The technology they have developed is powerful enough to change the entire solar cell industry. You can read more about Solstice Power at http://solsticepower.com.
Launch NY is responsible for providing support for over 400 businesses across Upstate New York. The mission of Launch NY is to identify high-impact companies and invest both time, money, and resources to help these companies grow into successful businesses.