Hacker News Reader

It is not clear that he has been looking for investors .. from the article it seems he has been looking for government grants, which would have given him money without asking for equity in return.

Johnson may have initially wanted to fund his invention purely from his own money, keeping all the equity, but as the money started running out he has been looking for alternatives.

View on HN

It does look like that, though you do end up wondering why. Even 10% equity in the company that owns the patents on efficient solar energy generation is going to be wealthy beyond their hopes of ever being able to spend the money.

Maybe its just that he likes being the boss, and not having to answer to anyone, including investors...

He has been funding the company with his money from Super Soakers, but because of knock-offs is now only able to cover one third of expenses.

Looks like he's trying to give up as little ownership as possible: govt grants, reinvest revenue, slow to get vc funding.

Reply on news.ycombinator.com