Mission and Vision—Clean, Easy and Safe: GoSun was founded with the goal of making cooking easier, cleaner, and more accessible for customers in both developed and emerging markets. GoSun builds a line of fuel-free ovens that are ready for action, incorporating durability and convenience into a package anyone can utilize.
The Problem—Lack of Innovation: Cooking outdoors hasn't changed much in 350,000 years. We are still putting a piece of meat over a fire and letting most of the heat escape. Modern technology is impressive, but cooking gets little innovation; we also need to get serious about stopping our addiction to burning fossil fuels.
Another Global Problem—Fire: According to the United Nation’s Global Alliance for Clean Cookstoves, over 3 billion people are in need of a cookstove that does not emit harmful emissions. The UN has identified that up to 4 million premature deaths are caused by pollutants from wood and solid fuel cookstoves during daily cooking routines. Cooking can put enormous pressures on families trapped in a cycle of poverty, trying to gather enough firewood everyday to cook.
Solution—Effective Solar Oven: GoSun is focused on making incredible outdoor cooking appliances to fuel and inspire clean living in the developed world and providing practical, fuel-free cooking solutions to people in developing nations. GoSun has developed a line of innovative solar cookstoves that can bake, boil, or fry almost anything, just by using the power of the Sun. It’s clean and safe: there are no fossil fuels or wood, no smoke or emissions, no hot coals, no open flames, no explosive gas, and no grease or soot.
Future Solution—Hybrid Solar Electric: GoSun is developing a solution to cook anytime, anywhere, using back-up power supplied by electricity. Initial testing shows the GoSun eGrill to be ten times more efficient than a traditional oven. With minimal marketing, over 1,000 customers have already signed up for the hybrid option.
- Clean: No flame, no smoke, no mess. GoSun makes stylish ovens that cause very little time or worry. These new solar grills are helping reduce pressures on the environment, and enabling people live more healthy and abundant lives.
- Easy: Combining fast-paced lifestyles with space-age tech, GoSun is powering the good life with evacuated tubes that have been used in solar hot water heating for decades. The stoves are portable, set up in seconds, and do not require any supervision. Time saving and ease of use are enduring values to active, often adventurous customers.
- Cook Quality: GoSun makes a wholesome meal in the healthiest way possible. Described by one customer as a “turbo-crockpot," the Grill is easy to use: just add food and come back 20 minutes to an hour later for a rich and juicy meal. The vacuum tube creates a high moisture environment so food doesn’t burn or dry out. Despite its simplicity, GoSun claims dishes come out more succulent and delicious than traditional grills or ovens.
- Vacuum Insulation: The core of the technology is based on an evacuated tube that has the unique ability to capture sunlight and retain heat. Between two layers of tough borosilicate glass (similar to Pyrex) a vacuum layer acts as an ideal insulator, keeping food hot while remaining cool to touch on the outside.
- Efficient: GoSun's patent pending design uses compound parabolic reflectors and a horizontal vacuum tube that convert nearly 80% of all sunlight (infrared, UV, and visible) into usable heat. This technology is four times more efficient than solar PV.
- User-Friendly: With GoSun there's no need to stir or flip food. The stoves are low maintenance, safe to touch and reliable through varying weather. GoSun is cooking without creating soot, smoke or ash; plus, there's little need for accessories or implements.
GoSun was founded by Patrick Sherwin, a social entrepreneur, having worked with solar energy for almost two decades. Patrick spent years living off-grid in the Caribbean, designing and installing green technologies and pushing the limits of outdoor adventure. He maintains a diverse background in energy, engineering, design, green building and science.
Sherwin first encountered solar vacuum tubes while removing a residential solar hot water system. Compelled by their unique thermodynamics, he began experimenting and discovered an incredible way to cook food. Deeper experiments and a strong desire to solve global cooking issues resulted in a unique solar stove that proved easier and more reliable than any other fuel-free device.
In 2012, Patrick exited from a clean tech start-up and began recruiting a team of young designers to launch GoSun. Since the inception, a dual business model has been important: creating a technology that can compete with conventional grills and ovens AND serving those in need of clean technology.
For investments between $1,500 - $19,999: GoSun Sport ($279 value)
For investments of 20,000 and above: GoSun Grill ($799 value)
It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.
Frequently Asked Questions
A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.
The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.
Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.
Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.
Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $1 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive shares, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.
When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by GoSun. Once GoSun accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to GoSun in exchange for your shares. At that point, you will be a proud owner in GoSun.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or government-issued identification
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
If you are investing under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.
An investor is limited in the amount that he or she may invest in a Reg CF offering during any 12-month period:
- If either the annual income or the net worth of the investor is less than $100,000, the investor is limited to the greater of $2,000 or 5% of the lesser of his or her annual income or net worth.
- If the annual income and net worth of the investor are both greater than $100,000, the investor is limited to 10% of the lesser of his or her annual income or net worth, to a maximum of $100,000.
Separately, GoSun has set a minimum investment amount of US $0.
Accredited investors investing $20,000 or over do not have investment limits.
You are a partial owner of the company, you do own shares after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.
In certain circumstances a company may terminate its ongoing reporting requirement if:
- The company becomes a fully-reporting registrant with the SEC
- The company has filed at least one annual report, but has no more than 300 shareholders of record
- The company has filed at least three annual reports, and has no more than $10 million in assets
- The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
- The company ceases to do business
However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.
Currently there is no market or liquidity for these shares. Right now GoSun does not plan to list these shares on a national exchange or another secondary market. At some point GoSun may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when GoSun either lists their shares on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.
This is GoSun's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the GoSun's Form C. The Form C includes important details about GoSun's fundraise that you should review before investing.
For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours before a closing occurs or an earlier date set by the company. You will be sent a reminder notification approximately five days before the closing or set date giving you an opportunity to cancel your investment if you had not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your shares have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, you may go to your portfolio page
If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. You will receive an email when the closing occurs and your shares have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page.