SALT LAKE CITY - Two University of Utah alums, including MSE graduate David Toledo (BS '10) appeared on ABC's "Shark Tank on April 11th to pitch their startup company, Power Practical, in hopes of receiving an investment from the one of more investors of the panel.
Along with fellow MSE graduate, Paul Slusser (BS/MS '09), Toledo came up with the idea to develop a portable cooking pot capable of transforming heat and water into a usable power source that can charge phones or other devices using thermoelectricity while studying materials science and engineering here at the U. They honed their product and marketing strategies with help from the Lassonde Entrepreneur Institute.
Having raised close to $1 million and shipping more than 1,000 units, the company's growth has been overwhelming. Their hopes for funding was realized when owner of the NBA's Dallas Mavericks, Mark Cuban, invested $250,000 into the company after a counter offer was presented to Cuban's initial offer.