XTorch is a reliable solar-powered flashlight and phone charger, designed for emergencies and power outages. It was featured on Shark Tank Season 12, Episode 22, seeking funding. This simple electric product operates on solar power.
The founders, Gene and Keidy Palusky, conceived the idea for XTorch due to a lack of electricity in Equatorial Guinea, Africa. The couple met in 2001 while doing missionary work in the Dominican Republic.
Electricity has been a long-standing issue, with rural areas struggling to access it while metro areas remain consistently powered. Many people have turned to solar systems to illuminate their homes and address common problems like charging phones and providing light.
XTorch addresses these issues by offering a solution for light and phone charging without the need for electricity. The product allows users to charge their phones and illuminate their surroundings even in the absence of power.
Gene and Keidy invested their savings of $300,000 to start the business, and it began to grow over the years. However, the company was not profitable before their Shark Tank appearance, prompting them to seek $150,000 for 10% equity at a $1.5 million valuation.
During their pitch, Robert Herjavec expressed strong interest in acquiring XTorch entirely, but a deal was not finalized.
XTorch is a rechargeable solar-powered flashlight suitable for indoor and outdoor use. It must be charged using sunlight, which powers it automatically. The device is durable, resistant to water and impacts, and can last up to 48 hours on a full charge.
It saves users approximately $2,000 on batteries and features two flashlights and a charging cable for connecting a USB cord. Properly maintained, XTorch can last 7-10 years and is ideal for study, travel, night walks, and camping. It charges using the sun’s rays or electricity and is equipped with a 3000 mAh lithium-ion battery with a lifespan of 7 to 10 years.
| Company Name | XTorch |
| Founder | Gene Palusky and Keidy Palusky |
| Founded | 2018 |
| Product | rechargeable solar-powered flashlight |
| Asked For | $150k for 10% equity |
| Final Deal | No Deals |
| Shark | No Shark |
| Episode (Shark Tank USA) | S12 E22 |
| Air Date | April 23, 2021 |
| Business Status | In Business |
| Net Worth | $1.5 Million *estimated |
| Website | Visit Website |
| Headquarters | Minnesota, US |
| Go To Amazon | Buy Now |
Another Shark Tank Pitch
Who Is The Founder Of XTorch?
XTorch was developed by co-founders Bob Sweat, Gene Palusky, and Keidy Palusky.
Gene Palusky graduated from Macalester College and worked in renovating old houses and apartment buildings.
He conceived the idea for XTorch during his development work in Equatorial Guinea, Africa, and the Dominican Republic. Keidy Palusky handles the design and marketing of the product.
Bob Sweat serves as the lead engineer, focusing on improving the device.
How Was The Shark Tank Pitch Of XTorch?
Gene Palusky and Keidy Palusky entered Shark Tank with XTorch, seeking $150,000 for 10% equity. They shared the story behind the development of their product.
They explained that each XTorch unit costs $18.50 to make and sells for $55.95. The company has generated $53,000 in sales from 2019 to 2021. However, they do not have a patent for their product.
Mark Cuban, Kevin O’Leary, and Daniel Lubetzky opted out of the offer. Robert Herjavec expressed interest in buying the entire company and initially offered $400,000. The entrepreneurs countered with $1 million. Lori Greiner subsequently withdrew from the deal.
Robert then increased his offer to $500,000, but the entrepreneurs countered with $750,000. Ultimately, Robert decided not to proceed with the offer.
Finalize: XTorch did not receive any deals in Shark Tank.
XTorch Shark Tank Update
XTorch did not secure a deal on Shark Tank. Although Robert Herjavec expressed interest in buying the company entirely, the negotiations between Gene and Robert did not conclude successfully.
The company focuses significantly on charity, donating 25% of its profits. This charitable aspect has contributed to the product’s popularity.
After the episode aired, XTorch sold 1,400 units within a few weeks, and they quickly ran out of stock. Sales were strong in the first month following the Shark Tank appearance.
As of September 2022, the product was priced at $49.95, but the company has not yet achieved profitability. XTorch has also experienced good sales on Amazon.
During the Russia-Ukraine war in April 2022, XTorch donated its products to Ukrainian refugees. In May 2022, the company partnered with Jerry’s Hardware to boost charitable promotions through product sales.
Just a couple of days left to send an XTorch to Ukrainian refugees!
From now until April 30, you can purchase an XTorch for just $30 which will be distributed by Operation Blessing to Ukrainian refugees in Poland and Ukraine.
While the Shark Tank episode did not have a significant impact on the company’s overall trajectory, XTorch successfully sold 1,400 units in a short period following the show. The company collaborates with various national and international charity organizations.
XTorch’s annual revenue stands at $1.5 million. Additional details about the company’s financials have not been disclosed.
What Is XTorch Net Worth?
XTorch donates 25% of its profits to charity and currently has a net worth of $1.5 million.
The XTorch product has received a very positive response on Amazon, where it is available for purchase both nationally and internationally.
Over 80% of customers have given this product a 5-star rating on Amazon, praising its usefulness.
Several media publications have featured the company’s charitable efforts, including Southwest Journal, Star Tribune, Gadget Hints, Best Camp Kitchen, Edina, Kare, Gear Junkie, and more.
Yes, XTorch is still in business as of April 2024.
