Tremont Electric from Shark Tank

Tremont Electric shark tank npower peg
Advertiser Disclosure: Seriosity.com may earn commissions from qualifying purchases.

Tremont Electric introduced the idea of a portable power source that lets users tap into the kinetic energy stored in their bodies to power various electronic devices. Aaron Lemieux started working on the product in his basement in Cleveland, Ohio, before shifting it to a storefront.

 

While hiking the Appalachian Trail in the 1990s, Aaron came up with the idea for the nPower Peg. He worked so hard and turned his small idea into a full-fledged business.

 

This patented gadget was awarded accolades from the Consumer Electronics Association and a Silver Medal for Power Generation.

 

Since Lemieux was a mechanical engineer who had worked in manufacturing, he was excited about the prospect of bringing new jobs in the field of sustainable energy production to Cleveland. Tremont Electric manufactures NPower Pegs, and the firm had aspirations to produce commercial-grade kinetic generators.

 

Now that we have established what the company is all about, let’s see whether or not it was able to strike a deal with the Sharks.

 

Tremont Electric, the firm that made the nPowerPeg, sought investment of $2 million in exchange for a 22% stake in Tremont Electric. Aaron Lemieux introduced this product as a human-powered charger. This human-powered charger absorbs the user’s kinetic energy as the user moves around.

 

According to him, the average cell phone user can charge their device, depending on their movement. You can buy the nPowerPeg for $110. Patents owned by Lemieux prevent the technology from cloning.

 

Mark Cuban asked Lemieux to sell him on where the firm would go in 10-15 years before he would accept the company’s valuation. Lemieux unveiled a long-term strategy to harness ocean waves to generate electricity on a price scale comparable to coal power as a follow-up.

 

The idea of low-cost and environmentally friendly energy production indeed intrigued the Sharks. Kevin O’Leary was impressed by the idea of a wave farm; however, he wanted to know why Lemieux hadn’t leased his inventions to existing energy businesses.

 

Mark Cuban liked the idea of the nPowerPeg but had reservations about the long-term strategy. Therefore, he refused to invest in the company.

 

Lori Greiner did not believe she was the proper person to help him reach the next level. Therefore, she excused herself. On the other hand, Daymond John felt the same. He believed he wasn’t qualified enough to assist Lemieux.

 

As much as Robert Herjavec liked the idea of using fewer fossil fuels, he didn’t see how the nPowerPeg’s tiny edition would translate to a global market. Hence, he decided to be out. There was only Kevin O’Leary left in the group to comment.

 

In O’Leary’s opinion, the wave farm concept was very promising, and he would have purchased it and taken it to GE to sell a license. However, the two million dollar cost was too much for him. Therefore, he decided against investing.

 

When Lemieux left Shark Tank without a deal, he faced some significant career obstacles. All of the company’s social media accounts were inactive. The company’s website had only a few pages that advertised the nPowerPeg and other products. There appeared to be little hope of truly economical, green energy.

 

However, entrepreneurs like Lemieux continue the search and, perhaps one day, find a way to save the globe. Nonetheless, he closed the company in 2016 and currently works as a paramedic at the Cleveland Clinic.

 

Our Review of Tremont Electric (nPower PEG)

Tremont Electric’s nPower PEG backup charger was just what you would have wanted if you were on your feet all day. When you walk or cycle, it’s supposed to catch the energy your body emits and channel it into your dead cellphone battery, reviving it or giving you an extra hour of talk time.

 

You could keep it with you while exercising, and your battery would always be topped off, thanks to the device’s kinetic energy source.

 

PEG is an abbreviation for Personal Electric Generator. There’s little doubt that the cylinder’s lithium battery is powerful. It is 10.5 inches long and weighs less than one-and-a-half pounds. You can use the provided small USB cord to charge it completely in less than 4 hours. It has a three-month battery life on a full charge. Green and red LED lights to indicate the charge level of the PEG.

 

There is a price for kinetic power – the nPower PEG costs $200. It has one iGo.com micro USB tip that can be used with most non-Apple devices. However, additional tips cost an additional $10 apiece. The PEG’s target market appeared to be wilderness trekkers, outdoor lovers, and survivalists. Many other backup batteries are available for a less cheaper price.

 

The PEG’s productivity varied depending on the activity. You can run a loop with a worn-out PEG as a starting point. A 3G phone could chat for around a minute using this method. If you use 3G, you will have to walk for more than 25 minutes.

 

Only by moving in a vertical position can the PEG capture kinetic energy. You must attach it to anything using the loop on the top for it to function correctly. A briefcase, backpack, or pocket will suffice, but your pals will wonder if you’re carrying around a battery or just excited to meet them.

 

The PEG could still be functional, even if you are standing still. You can vigorously move it while keeping it upright. However, keeping it covered has its drawbacks. The PEG should be kept away from magnet-receptive materials to maximize its performance.

 

If the mere idea of constant movement freaks you out, don’t worry! The PEG is a viable option. You can move it vertically by hand for a short period of time; that should suffice. All in all, it could be a good option if you want to recharge your battery.

 

Pros

  • Charges your phone using kinetic energy.
  • You don’t need to leave your phone to charge it; you can charge it on the go.
  • You can use it even when you are standing still.

 

Cons

  • The charging process is time-consuming.
  • The price is too high.
  • The company is not functional anymore.

 

Who is it Best For?

Tremont Electric was one of the innovative ideas in the field of technology. The product nPower PEG was introduced explicitly for those who are always on the go and need to charge their phone around the clock.

 

Sometimes, it gets difficult to carry a charger or stop by somewhere looking for a switchboard. Therefore, Tremont Electric introduced a product that solves your dilemma of charging the phone and lets you do it by preserving the environment.

 

Are There Any Alternatives?

Country Line Electric Supply is one of the best alternatives to Tremont Electric. It produces electronic products at a reasonable price, serving the community and solving the technical issues as they do so.

 

Our Final Thoughts

Tremont Electric came up with a fantastic idea of nPower PEG that let you charge your phone using kinetic energy as you move. Even though the idea was brilliant, the company had to shut down due to a lack of funds.