Alumni Business Partners Ink Major Sales Deal
A pair of Cedarville alumni are teaming up with Lowe's to bring Mistbox to a larger market.
In just one year, a pair of Cedarville University alumni have seen their startup company reach new heights. Andrew Parks and Josh Teekell, 2007 mechanical engineering graduates and developers of Mistbox, signed an agreement with Lowe’s that allows the home improvement stores to sell their product — a device that makes air conditioners more efficient.
The Mistbox attaches to central air conditioning units and cools the outside air temperature before it enters the air conditioning unit. This process helps consumers save up to 30 percent on cooling costs, while also reducing its carbon footprint.
"We're truly excited to partner with the leading home improvement company on Mistbox,” said Teekell. "Distribution at Lowe's presents a huge opportunity for us to put Mistbox in every home with an air conditioner, furthering our mission to contribute to a greener world without asking our users to compromise on quality of life."
Among the many unique features of the Mistbox is its solar panel, which eliminates the need for replacement batteries. The unit also features integrated Wi-Fi technology and a mobile app, which allows users to manage and track their energy usage and savings.
The unit sells at a retail price of $399, but is eligible for a 30 percent green tax credit from the IRS that makes the true cost of the unit just $280. The product is now available in select Lowe’s locations across the country, as well as online at Lowes.com.
Located in southwest Ohio, Cedarville University is an accredited, Christ-centered, Baptist institution with an enrollment of 3,711 undergraduate, graduate and online students in more than 100 areas of study. Founded in 1887, Cedarville is recognized nationally for its authentic Christian community, rigorous academic programs, strong graduation and retention rates, accredited professional and health science offerings and leading student satisfaction ratings. For more information about the University, visit www.cedarville.edu.
The Mistbox attaches to central air conditioning units and cools the outside air temperature before it enters the air conditioning unit. This process helps consumers save up to 30 percent on cooling costs, while also reducing its carbon footprint.
"We're truly excited to partner with the leading home improvement company on Mistbox,” said Teekell. "Distribution at Lowe's presents a huge opportunity for us to put Mistbox in every home with an air conditioner, furthering our mission to contribute to a greener world without asking our users to compromise on quality of life."
Among the many unique features of the Mistbox is its solar panel, which eliminates the need for replacement batteries. The unit also features integrated Wi-Fi technology and a mobile app, which allows users to manage and track their energy usage and savings.
The unit sells at a retail price of $399, but is eligible for a 30 percent green tax credit from the IRS that makes the true cost of the unit just $280. The product is now available in select Lowe’s locations across the country, as well as online at Lowes.com.
Located in southwest Ohio, Cedarville University is an accredited, Christ-centered, Baptist institution with an enrollment of 3,711 undergraduate, graduate and online students in more than 100 areas of study. Founded in 1887, Cedarville is recognized nationally for its authentic Christian community, rigorous academic programs, strong graduation and retention rates, accredited professional and health science offerings and leading student satisfaction ratings. For more information about the University, visit www.cedarville.edu.