Eric Engelmann, General Partner
ISA Ventures Invests $1 million in PVpallet, Largest Investment Yet
August 11, 2021
FOR IMMEDIATE RELEASE
Cedar Rapids, Iowa — This summer, ISA Ventures, Iowa’s multi-stage venture capital studio, is investing $1 million in PVpallet, a startup that manufactures a recyclable pallet for the global solar industry to transport panels safely, efficiently and without breakage. Today, millions of solar panels move from manufacturers to installation points on fragile wooden pallets, which are then discarded.
ISA Ventures’ investment in PVpallet has allowed them to relocate their company to Iowa and establish manufacturing partners to bring their product to market, with an anticipated launch date this fall. Originally based in Missouri, PVpallet decided to relocate the company to Iowa due to the state’s immense resources available for building and scaling their company. For example, PVpallet is leveraging Cedar Rapids’ manufacturing expertise, working with MSI Mold Builders to develop the molds for the pallet.
Founder and General Manager at PVpallet, Luke Phelps shared, “I spent 7 years working in the solar installation business and saw firsthand the challenges with transporting solar panels. I knew there had to be a better way - our first product changes how the entire solar industry works. We’re excited to work with ISA Ventures to scale our company to change the solar industry.”
This milestone comes during ISA Ventures’s first year, in which they launched the $20 million fund, deployed over $3.5 million in capital into more than 20 Iowa-based startups.
“PVpallet will be the largest investment we've made yet, because we believe that this company is a game changer. We're eager to help this Iowa-based manufacturing company grow aggressively, create jobs and wealth here, all while making the solar industry greener and more efficient,” said Eric Engelmann, General Partner at ISA Ventures. The PVpallet team will join the Iowa Startup Accelerator’s Scaleup program to plug into Iowa’s entrepreneurial community and for continued support.
About ISA Ventures
ISA Ventures is the first multi-stage venture capital studio in Iowa. Located in Cedar Rapids, the fund invests up to $1 million in early-stage, rapid growth, and later-stage companies, positioning them for growth and exit. Its professional management team vets deals across all industries, with a preference for technology companies in biotech, healthcare, education, engineering & automation, agriculture, food & bioprocessing, insurance & finance, and transportation & logistics.
For more information, visit us at isaventures.com
PVpallet, Inc. is the solar industry’s first recyclable, reusable, and collapsible pallet system designed specifically for shipping and protection of solar PV modules. PVpallet improves efficiencies and reduces costs throughout the entire solar supply chain, including manufacturing, distribution,installation, decommissioning and recycling, warehouse storage and construction waste disposal. For more information: www.pvpallet.com
This press release is not an offer to sell any securities of the ISA Ventures Fund, LLLP or PVpallet, Inc., nor a solicitation of an offer to buy. This press release is a description of certain limited aspects of the Fund and PVpallet and is not intended to be an exhaustive or comprehensive discussion. Certain statements in this press release may be “forward looking statements” that are subject to change, and actual future results may be materially different from what the Fund or PVpallet expect. Investments in venture funds and early stage companies are subject to substantial risks and are only appropriate for sophisticated investors who can understand and bear those risks.