Pacific Integrated Energy, Inc. (PI Energy) is a photo voltaic vitality innovation firm, creating a next-generation photovoltaic photo voltaic cell expertise that’s designed to allow clear vitality to be commercially deployable at a low-installed value. Through its groundbreaking proprietary expertise, PI Energy is dedicated to creating photo voltaic vitality much more sensible, cost-competitive, and scalable worldwide.
With its staff of expertise and business consultants, the corporate is creating the following era of solar energy photovoltaic (PV) supplies, consisting of skinny, versatile photo voltaic nanofilms that permit photo voltaic PV to be safer, more cost effective, and relevant to nearly any floor. Imagine a world the place any floor—from buildings to transport vehicles—can leverage photo voltaic expertise to make all industries extra sustainable.
PI Energy’s revolutionary expertise supplies efficient options to the present issues confronted by the photo voltaic vitality business. Although photo voltaic vitality has the potential to be essentially the most considerable supply of fresh vitality, the present applied sciences available on the market stay too costly and restricted in the place it may be utilized. PI Energy’s expertise goals to faucet into the huge potential of photo voltaic vitality, thereby serving to create a extra sustainable future.
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PI Energy’s Challenges within the Solar Power Industry
While creating its expertise, PI Energy has confronted challenges acquainted to most startups in solar energy and elsewhere: funding, assets, and danger administration. Over the final ten years, PI Energy has raised over $16M, largely from non-public traders, with the intention to develop its expertise. The firm has additionally had success with crowdfunding as a method to finance its expertise, and it continues in its mission to draw traders.
As a small firm within the improvement stage, PI Energy is amongst these corporations on the forefront of recent solar energy improvements which might be usually achieved with restricted assets. Being a small startup, PI Energy has saved its concentrate on innovation whereas competing with a lot bigger companies with larger assets. At the identical time, the corporate has confronted challenges referring to the final repute that startups have as dangerous investments, particularly with regards to insurance coverage protection. Add in solar energy and sustainable vitality, and dangers abound.
Despite their accountable administration of the corporate, PI Energy’s management had problem discovering administrators & officers (D&O) insurance coverage protection that was cost-effective and mirrored their particular wants. Many insurance coverage suppliers supplied prohibitively costly charges based mostly on the chance components posed by different startups unrelated to PI Energy.
While researching D&O insurance coverage suppliers, PI Energy’s founder and CEO Phil Layton got here throughout Embroker. As a scientist and engineer, Mr. Layton was in search of insurance coverage protection that was pretty priced and would provide the type of safety that will allow him and his staff to concentrate on their work creating PI Energy’s expertise. PI Energy additionally wanted a companion who believed of their mission of sustainability and was prepared to take a danger on them. In Embroker, they discovered the insurance coverage supplier that they wanted.
Mr. Layton was significantly impressed by the aggressive pricing of Embroker’s D&O insurance coverage protection and the effectivity of the sign-up course of. As properly, Embroker understood the actual wants of PI Energy and its management, demonstrating a dedication to them as valued shoppers.
For startup corporations equivalent to PI Energy, Directors & Officers insurance coverage is especially necessary. The goal of D&O insurance coverage is to defend an organization’s administration and management from any private publicity to legal responsibility claims for the enterprise choices and actions they make whereas operating the corporate. D&O insurance coverage is an efficient technique of decreasing the dangers that an organization’s management faces, enabling them to make the usually troublesome choices to innovate and develop their enterprise. It may also enhance an organization’s monetary outlook by eliminating the necessity to stockpile funds for potential future litigation. For an organization innovating inside solar energy, the protection is vital.
“Embroker’s D&O insurance coverage protection was not solely competitively priced, however they gave us the type of insurance coverage we couldn’t discover wherever else.”
-Phil Layton, Founder, CEO/President & Chairman, PI Energy
As a number one digital insurance coverage brokerage, Embroker is strongly positioned to assist corporations equivalent to PI Energy at each progress stage discover the appropriate startup insurance coverage, together with D&O protection for his or her management, together with different insurance policies that assist defend their startup, their expertise, and their employees. Embroker makes it straightforward for companies to finish a purchase order and get D&O protection by enabling them to obtain a quote with out fairness possession or monetary statements. The pricing is reasonably priced as a result of Embroker’s insurance policies are sometimes absolutely digital, thereby eliminating pointless administration and overhead prices. D&O insurance policies may also be tailor-made to the actual wants of the enterprise and its management, with consultants out there to supply help at any time.
PI Energy’s Risk Management
With Embroker’s assist, PI Energy and its management really feel safe in understanding that they’re protected by a dependable insurer and a strong D&O coverage. Having the appropriate D&O insurance coverage in place implies that PI Energy’s management can now concentrate on what issues essentially the most: innovating and rising their firm.
“Embroker was the one insurer we discovered that was environment friendly, aggressive, and labored very well for us. And not like different insurers, it was clear that they have been actually all for working with us. I’m more than happy with my expertise coping with Embroker and its staff.”
-Mr. Phil Layton, Founder, CEO/President & Chairman, PI Energy
PI Energy’s mission transferring ahead is to proceed creating photo voltaic expertise for the renewable vitality market. With the expertise nonetheless underneath improvement, PI Energy goals to maneuver to larger-scale pilot demonstration and manufacturing. As properly, the corporate has recognized a number of market entries into the worldwide photo voltaic market in its mission to create a cleaner, extra sustainable future. Partnering with Embroker supplies the staff with danger administration that can scale with them as they develop.
PI Energy and its management exemplify the necessary position that small startups play in driving innovation in all fields of expertise. The firm’s photo voltaic expertise has the potential to rework the worldwide vitality market. That is why it is crucial for PI Energy, and firms prefer it, to have the appropriate insurance coverage protection in place. Innovation can’t occur with out risk-taking, and Embroker protects these dangers.
Embroker’s experience in D&O protection empowers such corporations as PI Energy by serving to them and their leaders handle the dangers they face. By partnering with Embroker, PI Energy is wanting ahead to persevering with its journey of innovation whereas safe within the data that it’s protected by a trusted insurer.