Good afternoon Wefunder Community! I hope you've all had a great start to your year.
I'm excited to share good news with Powur. 2018 was a very busy year for us. We essentially shifted the core model of the company from providing lead services to a nationwide network of installers, to designing and selling our own systems from the leads we can generate.
This shift of the model of course introduced new challenges, but at the end of the day Powur's profit margins and revenue are much greater on systems we design and sell vs leads we generate for other companies.
We grew 2018 Revenue by 40% over 2017. We also reduced the company's cash burn in 2018 by almost 70% YOY! Those are very positive signs, and we are continuing to focus on how we can bring to market the next model innovation for solar sales.
We have big plans in 2019 with additional changes we want to make to strengthen our business model, increase revenue per sale, and start to get a much higher output per Powur Representative.
We recently hired Managers from Tesla, Sungevity, and Sullivan Solar Power which have massively strengthened our solar operations division, and the company is also now actively recruiting for a COO.
The sad news I have to report is that my Mother, and our former VP of Operations Andrea Budd passed away suddenly from Cancer on Nov 14th, 2018. This was a really difficult time for us, but the team all pulled through, and we are carrying on with our mission in honor of Andrea's legacy and the impact she left on our company.
More than ever, as her son, I'm motivated to help heal this planet from the dirty energy and pollution which is contaminating our bodies and our natural eco-systems. I was already mission driven, and now it's a new level of personal.
As always, we appreciate you for your contributions towards this mission. Powur has now sold almost $50,000,000 of solar energy through our platform. As we continue to take over more of the solar value chain, our company can realize more of that revenue for ourselves which will produce greater ROI for our investors.
It's not easy work, our team has to overcome challenges everyday, but we love what we do and everyone is ridiculously passionate about it. We're not going to stop until we've built one of the largest clean energy companies in the world.
Thanks again for your support, and I look forward to sharing more good news with you soon.
Powur Founder / CEO
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