The nPower Peg hopes to charge up the Shark Tank in episode 422 with a personal energy generator that allows people to use the kinetic energy created by body movement to charge a variety of electronic devices. The product was developed by Aaron Lemieux in his basement in Cleveland before moving to a retail location. Aaron is an avid hiker who got the idea for the nPower Peg while hiking the Appalachian Trail back in the 1990’s. The patented device won awards from the Consumer Electronics Association and an Edison Award Silver Medal for Power Generation. Lemieux is a mechanical engineer with a background in manufacturing who is proud to bring clean energy manufacturing jobs to Cleveland. The nPower Peg parent company, Tremont Electric, manufactures the device and has plans for commercial grade kinetic generators.
nPower Peg Shark Tank Recap
Aaron Lemieux comes to the Shark Tank in episode 422 seeking a $2 million investment in return for 22% control in his company, Tremont Electric, which produces the nPowerPeg. Lemieux presents the “human-powered” charger which collects the kinetic energy as the user walks around. He claims that the average user can charge their cell phone to 20% over the course of 8 hours of normal activity. The nPowerPeg sells for $199, and costs $110. Lemieux owns patents that cover the technology extensively, protecting it from cloning.
Mark Cuban challenges the valuation of the company, telling Lemieux that he needs to “sell me on where the company will be in 10-15 years.” Lemieux then reveals a long-term plan to build “wave farms” in the ocean that would produce power “on a price scale comparable to coal power.”
Affordable, green energy production is a holy grail, but will the Sharks buy into this concept? Kevin O’Leary is intrigued by the wave farm concept, but wants to know why Lemieux hasn’t licensed his patents to companies that are already in the energy industry.
Who’s In?
Mark Cuban likes the concept of the nPowerPeg, but isn’t impressed with the long term plan. He’s out.
Lori Greiner doesn’t believe she’s the right person to help him get to the next level. She’s out.
Robert Herjavec admires the goal of reducing reliance on fossil fuels, but he can’t see the leap from the pocket edition of the nPowerPeg to the usage in the global market. He’s out.
Daymond John doesn’t feel he’s the right person to help Lemieux either. “I’m just not excited about it,” he says, and goes out. Only Kevin O’Leary remains.
O’Leary is impressed with the wave farm concept, and would have bought in on that concept, and taken it to GE to sell a license, but the $2 million valuation is a huge stumbling block. “It’s going to cost me $2 million to work for you.” He’s out.
nPowerPeg Shark Tank Update
Without a Shark deal, and with some business challenges, Lemieux faced some high hurdles walking out of the Shark Tank. The social media for the company has gone dark, and only a rudimentary website, advertising the nPowerPeg and another, similar product, remain. It seems as though the holy grail of truly affordable, green energy remains out of reach for now, but entrepreneurs like Lemieux and others will continue the quest and perhaps one day, find a way to save the world.
Unfortunately, he shuttered the company in 2016 and now works as a paramedic for the Cleveland Clinic.
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Is John your father or brother? We knew each other in the 80’s and I met his parents on McKinley in Lakewood in ‘’86. My address is below. Please let me know how John is, and you are related, as he had an engineering and legal degree. He was extremely intelligent, but had some challenges I pray he fixed. God Bless! Great product! It sure sounds workable. m