Solar Hydrogen Energy Corporation, a Saskatchewan solar power company that raised $20 million in cash and kind from 1,100 investors with a promise to change the world, is now under scrutiny by Saskatchewan’s securities regulator and under pressure from investors.
SHEC has been raising money from people across Canada and around the world since it was formed in 1996 by Tom Beck.
He’s an entrepreneur and inventor who believes he has found a way to generate solar power at competitive rates. Beck says it’s patented technology.
“We can lower the solar concentrated costs by almost 90 per cent over conventional technology,” Beck said.
“That’s a game changer for the whole planet.”
The company recently relocated to a vacant school in the village of Milden, 120 kilometres southwest of Saskatoon, where the president and CEO continues to pitch his investment opportunity.
“In a way it’s kind of an ideal time to get in before a company hits it big,” Beck said. “Just imagine if you were able to buy into Apple before they went public.”
Beck, the majority shareholder in SHEC, said he’s studied the life of Apple’s founder Steve Jobs and feels a “kinship” with him. He’s tried to emulate Jobs’s success.
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