nPower Peg Shark Tank Update – Shark Tank Season 4
Aaron Lemieux introduced the nPower Peg, an innovative kinetic energy charger, designed to power devices as users walk. But will the Sharks buy into this concept?
The nPower Peg hoped to charge up the Shark Tank in Season 4 Episode 22 with a personal energy generator that allows people to use the kinetic energy created by body movement to charge a variety of electronic devices.
Learn more about Shark Tank Season 4 Episodes.
About nPower Peg
| Category | Details |
|---|---|
| Business Name | nPower Peg |
| Founders | Aaron Lemieux |
| Industry | Electronics |
| Product | Charging Device That Uses Human Kinetic Energy |
| Deal Status | No Deal |
| Investment Asked | $2 million for 22% equity |
| Valuation | $9.1 million (At the time of Shark Tank pitch) |
nPower Peg 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 1990s. 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 came in the episode seeking a $2 million investment in return for 22% control in his company, Tremont Electric, which produces the nPowerPeg.
Lemieux presented his signature “human-powered” charger, which collects the kinetic energy as the user walks around. He claimed that the average user can charge their cell phone up to 20% over the course of 8 hours of regular activity.
The nPowerPeg sells for $199 and costs $110. Lemieux owns patents that cover the technology extensively, protecting it from cloning.
Mark Cuban challenged 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 revealed a long-term plan to build “wave farms” in the ocean that would produce power “on a price scale comparable to coal power.”
Kevin O’Leary was intrigued by the wave farm concept, but he wanted to know why Lemieux hadn’t licensed his patents to companies that are already in the energy industry.
Did nPower Peg Get a Deal on Shark Tank?
Mark Cuban liked the concept of the NPowerPeg, but wasn’t impressed with the long-term plan and went out of the deal.
Lori Greiner did not believe that she was the right person to help him get to the next level, and with that, she was out.
Robert Herjavec admired the goal of reducing reliance on fossil fuels, but he couldn’t see the leap from the pocket edition of the NPowerPeg to the usage in the global market. With that, he bowed out.
Daymond John didn’t feel that he was the right person to help Lemieux either. “I’m just not excited about it,” he said, and opted out. Only Kevin O’Leary remains.
O’Leary was 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 also went out of the deal with that.
What Made nPowerPeg Unique?
The product offered a ground-breaking, sustainable energy resource in a way that could be adopted by anyone. Not only did it aim to generate clean energy, but it was also an incentive to make the masses healthier by walking.
nPowerPeg Shark Tank Update
Without a Shark deal and with some business challenges, Lemieux faced some high hurdles walking out of the Shark Tank. He shuttered the company in 2016 and now works as a paramedic for the Cleveland Clinic. The social media of the company has been dark since 2013, and the website domain is also down.
Unfortunately, he shuttered the company in 2016 and now works as a paramedic for the Cleveland Clinic.
Posts about nPower Peg on Shark Tank Blog
Shark Tank Blog has provided a deeper dive into Tremont’s Personal Energy Generator.
Where Can You Buy It?
Although the product has been discontinued, you can check out their Twitter (X) page from back in the day.
Quick Summary
- Inventor Aaron Lemieux pitched the nPower Peg, a kinetic energy charger for devices, on Shark Tank seeking $2 million for 22% of Tremont Electric.
- Despite awards and patented tech, the Sharks declined, doubting the leap from a portable charger to large-scale clean energy projects like ocean wave farms.
- Without a Shark investment, Tremont Electric eventually closed in 2016.
Tremont Electric could not power through the Tank. Check out the updates of other businesses from the episode.
- Mission Belt Shark Tank Update
- Shell Bobbers Shark Tank Update
- Wicked Good Cupcakes Shark Tank Update
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