Introduction
As the world transitions to renewable energy, energy storage solutions are becoming increasingly important to power our lives. Among the various storage possibilities, battery storage can power houses during electricity outputs and can store for the night the electricity produced by solar panels during the day.
Inergy offers a stackable and portable lithium-ion battery solution that offers convenience and durability to its customers. The company even designed Flex Tactical, a dust and waterproof battery dedicated to serving the army.
We reached out to Sean Luangrath, founding CEO of Inergy, to learn how the company grew to generate more than $8 million in annual revenue and his plans for the future.
In your own words, how would you describe your company?
Similar to how Apple spurred mass adoption of the MP3 player by introducing the iPod, Inergy is disrupting the residential solar industry with its consumer solar generators. The company’s products give its customers power anywhere, any time, so they can enjoy the good times, prepare for hard times, and rise above any obstacle life throws. Inergy is leading the renewable power revolution with energy solutions available to individual consumers, families, businesses, and government agencies, including the U.S. Army and Air Force.
What inspired you to take the leap and start this company?
Inergy began as an idea between a few passionate individuals, but that passion soon became a brand leading the renewable power revolution. Our mission is to provide the world with affordable, renewable power.
Who is on your team and how did you come together?
Brad Barrott, Inergy’s founder, is a seasoned entrepreneur who founded multiple successful businesses, including an international wireless internet company and a full-service commercial and residential solar installation company. Brad believes in helping bring power and connectivity to the world wherever needed. Sean Luangrath, Inergy’s founding CEO, is a seasoned international manager whose background includes working for HP, Oracle, and Apple. Sean has also held executive leadership positions at several top-level startups—including Aerohive Networks and Mellmo—helping them to grow and ultimately exit. Zac Blume is CTO and is a renowned battery storage power electronics designer and engineer. The newest addition to Inergy’s leadership team, Zane Hardin is the VP of Marketing. He is our storyteller who helps get our message out to the world. Everyone on the team is united behind our common purpose.
What is the biggest challenge you overcame since you started Inergy?
The journey of a startup is filled with numerous twists and turns, and Inergy’s adept and experienced management team has been instrumental in navigating the company through various challenges. Among these, the most significant obstacle Inergy confronted was the impact of the Covid-19 pandemic. The company had to sustain itself for two years without any sellable inventory. In response, Inergy introduced and initiated pre-sales for a new product, the Flex 1500. These pre-sales amounted to approximately $13 million; order fulfillment took three years. Despite the painful and demanding challenges posed by the pandemic, these experiences have enhanced the company’s adaptability and resilience regarding technology and overall operations.
Your company evolves in a competitive market, how do you differentiate?
At Inergy, we take pride in offering the industry’s most flexible energy solution through our innovative Flex Platform. Unlike many competitive alternatives, our modular platform provides unparalleled options and capabilities for Input, Storage, and Output functionalities.
Regarding storage capacity expansion, most solutions in the market have limitations. However, Inergy offers an industry-leading storage expansion capacity of up to 100kWh. What sets us apart from our competitors is that we go beyond storage expansion. Inergy empowers our customers with the freedom to choose their power input and output options, providing unprecedented customization.
With our Flex Platform, customers can effortlessly swap in and out different modules to tailor their system according to their specific needs. They can decide how to charge their system, select the desired storage capacity, and determine where they want to direct their power.
Our focus on developing a genuinely modular solution extends beyond ease of use. We aim to empower our customers with unmatched flexibility and expandability precisely when and where they need it.
How can Inergy’s products be used at an international scale?
Inergy’s modular portable solar platform is designed to be replicated in any power-deficient environment, particularly in developing nations. With successful technology validation in the U.S. market, we are poised to extend our technology and newly developed sustainable business model to developing markets.
Our technology represents a “bottom-up” solution that is exceptionally user-friendly. Its plug-and-play nature eliminates the need for installation, while its modular design allows expansion to meet varying power requirements. This inherent flexibility broadens our potential markets, enabling customers to affordably initiate product usage for personal and livelihood purposes and subsequently scale their systems as their power demands and purchasing capabilities increase.
Our solutions have already been deployed across diverse locations, from thousands of customers in the U.S. to medical clinics in Haiti, remote communities in Puerto Rico, off-grid schools in Kenya, and the Amazon jungles of South America. This extensive deployment highlights the substantial growth potential for Inergy products in the global market.
What is your 5-10 years vision for Inergy?
In five years, Inergy envisions a comprehensive technology stack encompassing software services, including customer analytics fueled by machine learning and artificial intelligence, and robust microgrid control and management capabilities. This integrated approach combines an accessible yet potent hardware portfolio complemented by data and software functionalities. This holistic offering positions Inergy for global deployment across every nation, signifying a significant contribution to addressing the pressing challenge of over 700 million globally lacking access to electricity.
How would you describe the work culture at Inergy?
We firmly believe power is essential for human development and advancement. Be it within urban settings, where environmental consciousness is a priority, lifestyle transformation, or areas with limited access to reliable power, the influence of dependable solar energy can be life-altering. At Inergy, our entire focus centers on this purpose. From the earliest hours of the day, as phones are answered, to the late-night sessions of research and refinement, our efforts are dedicated to pushing beyond the boundaries of past achievements. We stand on the shoulders of like-minded pioneers, aiming to elevate their visions and significantly impact global energy poverty. This purpose propels each member of our team. Our organizational ethos embodies the “best of Silicon Valley” – bold vision, innovation-driven, tech-focused – melded with the diligence and resourcefulness emblematic of the “farming culture of the Rocky Mountain West.”
Inergy is raising capital on StartEngine
