With a revolutionary approach, Paleblue aims to replace single-use batteries with their advanced rechargeable alternatives, aiming to eliminate nearly a million tons of battery waste annually. Their dedication to sustainability extends beyond product innovation, as they actively collaborate with organizations like 1% for the Planet and Fish for Garbage. In our insightful conversation with Thomas Bishop, we get into Paleblue’s journey, the technological distinctions of their batteries, and their profound impact on both the environment and the industry.

Funding Round Details

Paleblue logo
Company: Paleblue
Security Type: Convertible Note
Valuation: $16,800,000
Min Investment: $200
Platform: Wefunder
Deadline: Apr 29, 2024
$1,235,000
$288K
View Deal

Can you briefly describe Paleblue?

Paleblue is a growing company based in Park City, Utah, leading at the intersection of batteries, tech, and impact. Our goal is to make batteries so good that no one would ever return to single-use batteries. We have introduced a new and greatly improved generation of rechargeable batteries, which could save 99.9% of single-use battery waste – nearly 1 million tons each year. In addition to creating the best batteries ever, we put a lot of effort and resources into our partnerships with organizations focused on conservation and sustainability, such as 1% for the Planet, Fish for Garbage,  Swaner Preserve, The American Alpine Club, The Wasatch Trails Foundation, and Call2Recycle. Paleblue batteries inherently save our customers waste and money, but we work hard to harness our business into creating positive impacts through these partnerships.

What inspired you to take the leap and start this company?

In the earliest days, we understood some of the scope and scale of the waste problem. We came to believe we could create a better battery to solve the issue once and for all…but what made me realize that this was a fantastic solution came not with the first use but the second (and third and fourth,..).  Every time I used the batteries after that and quickly recharged them and put them back to use, I was thinking – I didn’t go anywhere, I didn’t buy anything, and I didn’t throw anything away. Each and every use was and still is a confirmation that the product is amazing, simple, convenient, and saves a lot of money and waste. From that initial second-charge moment, I knew there was no going back.

What is the difference between Nickel Metal Hydride (NiMH) and Lithium-Ion batteries?

These two battery chemistries vary in a number of important ways. NiMH was first created in the 1960s and is the most common type of rechargeable household battery. But, the problem is that most people still buy single-use since NiMH are low voltage (1.2V), have long charging times, and require a special custom charger and AC outlet to charge. They have mostly been unreliable due to self-discharge and ‘memory’ attributes, resulting in deteriorating customer experience and minimal market adoption.

Lithium-ion chemistry is the predominant modern battery chemistry. Li-ion has many attributes that make it the solution of choice in high-quality batteries and electronics – from phones and laptops to EVs and power banks. Li-ion batteries are fast charging, higher voltage, and far more reliable over a much longer cycle life. The power and reliability of Li-ion batteries earned its creators the Nobel Prize, and rightfully so, in our humble opinion.

What is the most important lesson you have learned as an entrepreneur?

Working on a meaningful business with teams aligned with the mission at hand makes otherwise very busy and hard work a true pleasure

If we talk again in 12 months, what milestones will you have achieved?

In 12 months, Paleblue will have sold 5 million batteries – saving as many as 5 billion single-use batteries over their lifetimes.  Our products will be available in thousands of retail stores worldwide, and we will have launched several amazing brand partnerships.