2024.11.20

Goldwin Play Earth Fund PORTFOLIO INTRODUCTION

"Solarcore®" is a revolutionary material that uses NASA's cutting-edge "aerogel" technology, also applied in Mars rovers, to create an ideal thin insulation. Goldwin Play Earth Fund has invested in their ambition to transform thermal insulation across various industries worldwide. We spoke with Michael Markesbery, the CEO and co-founder of Solarcore®, to learn more about the qualities and potential of this remarkable material.

Goodbye to Puffy Winter Clothes. A New Insulation Realized by NASA Technology

— To start with, could you tell us what led you to the founding of Solarcore®?

Markesbery:During my university years, I went backpacking in the Swiss Alps in winter. It was freezing, so I had to layer up with multiple pieces of clothing to stay warm. I ended up looking like the Michelin Man, all puffy and bulky. That’s when I thought, "Is there a better, more comfortable way to stay warm?"

— It seems like that’s a problem many people can relate to.

Markesbery:After returning to the U.S., I started researching insulation with my friend and now co-founder and COO, Rithvik Venna, who was also at the same university. We found that, as you mentioned, many industries are struggling with the challenge of providing effective insulation without bulk.

— And that’s how you started developing your own material.

Markesbery:Exactly. I was fortunate to receive support from the Astronaut Scholarship Foundation, which helps promising students in science and technology, and got the chance to study aerogel, a NASA-developed lightweight and porous material. It’s 99.8% air and offers outstanding insulation, even being used in Mars rovers. But it has drawbacks, like being extremely fragile and difficult to handle. Together with Rithvik, we worked to make this material flexible and durable, which led to the creation of "Solarcore Foam" (referred to as Sc_Foam).

Aerogel, considered the lightest and most insulating material on Earth, is often called frozen smoke due to its translucent appearance. — Aerogel, considered the lightest and most insulating material on Earth, is often called "frozen smoke" due to its translucent appearance.

— So, what exactly is Sc_Foam?

Markesbery:Sc_Foam is a composite material that achieves both thinness and high insulation. To prove its impact on the apparel industry, Rithvik and I first launched the clothing brand "OROS" using this technology.

While goose down is about 30mm thick, Sc_Foam is only 2mm thick, providing high insulation and ease of movement.

From Outdoor Gear to Airbus – A Global Insulation Revolution

— In this spring, it was announced that you received funding from the Goldwin Play Earth Fund.

Markesbery:It’s an honor. This investment will accelerate our research even further.

— Which other companies have invested in Solarcore®?

Markesbery:Our investors include the venture arm of European aerospace giant Airbus, U.S. outdoor retailer REI, and Crumpton Ventures, established by Hank Crumpton, former head of the CIA’s Natural Resources Division. We’re supported by highly respected investors and partners. We’ve also been fortunate to work with Hap Klopp, founder of The North Face, who serves as our advisor and board observer. His extensive knowledge and experience are invaluable to us.

— Can you tell us about the process leading up to the Goldwin Play Earth Fund investment? Any memorable moments during discussions?

Markesbery:Goldwin Play Earth Fund conducted a thorough review of our technology. They even visited our office in the U.S. before making their decision, which showed their commitment and passion.

Solarcore®'s head office in Portland, Oregon, where prototype testing is conducted.

— Are there any aspects of Goldwin’s business or philosophy that you resonate with?

Markesbery:I recently visited their research facility in Toyama, where I saw firsthand how they strive to enhance the quality of their products and the lives of their customers. We share a lot in common, and I found their dedication inspiring.

— How do you see outdoor wear evolving through your collaboration with Goldwin? Will it change people’s lives?

Markesbery:Our focus is always on making things "more warmth and less bulk". By advancing material development through this partnership, everyday clothing will become lighter and warmer, making daily life even more comfortable.

Aerogel's key feature is its ability to trap air almost entirely, ensuring superior insulation even with a thickness of just 2mm, surpassing that of standard down jackets.

— Thank you. Finally, what is Solarcore®'s vision for the future?

Markesbery:We aim to expand this technology beyond clothing. Our goal is to apply it to housing, electronics, aerospace, and any industry that relies on insulation materials.

With Mr. Venna (on the left), a co-founder and the COO. — With Rithvik Venna (on the left), a co-founder and the COO.

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