- For the first time, Chaberton Energy makes Inc. Magazine's Inc.
5000 list, placing No. 34, with three-year revenue growth of
7,300%.
- The Maryland-based, national
solar developer is the third-fastest growing energy company on this
year's Inc. 5000 list, underscoring the company's position as one
of America's top start-up clean energy companies after only four
years since its founding.
ROCKVILLE, Md., Aug. 13,
2024 /PRNewswire/ -- Chaberton Energy today was
ranked No. 34 on this year's Inc. 5000, the most prestigious
ranking of America's fastest growing privately held companies. This
is the company's first time being named to the list.
The Maryland-based national
solar developer achieved profitability in its second year of
operations and has seen 73x revenue growth since its founding in
February 2020. Chaberton is the second-fastest growing company
in Maryland on this year's Inc.
5000 list and is the nation's third-highest ranked energy company.
Chaberton is also the fastest growing community solar company on
the list.
"We are so humbled by the recognition from Inc. Magazine, and
while we have only been in business for less than five years, this
award validates all the hard work and thoughtfulness that our
entire team has put into fulfilling a vision we had from the
beginning," said Stefano Ratti, Chaberton's CEO and founder.
"Our company values of creativity, excellence, and humanity formed
the building blocks to this amazing growth story, and they will
continue to fuel our growth well into the future."
The Inc. 5000 class of 2024 represents companies that have
driven rapid revenue growth while navigating inflationary pressure,
the rising costs of capital, and hiring challenges. Among this
year's top 500 companies, the average median three-year revenue
growth rate is 1,637%. In all, this year's Inc. 5000 companies have
added 874,458 jobs to the economy over the past three years.
Chaberton develops solar projects for businesses and for
communities. These projects save money, provide access to clean
energy for communities and residents who may not be able to have
their own solar arrays, and support economic growth and
environmental justice. The company is active in Maryland, Delaware, Virginia, New
Jersey, Ohio, Illinois, New
Mexico and California,
among others, focusing on states with supportive solar and clean
energy policies.
This year the company announced that it was developing solar
projects at more than 100 sites. It has gone from zero project
pipeline in 2020 to 740 megawatts of electric generating capacity
in just four years. That's enough to power roughly 128,000 homes
and eliminate 770,000 tons of carbon emissions each year.
Chaberton's top-two ranking in Maryland highlights the company's position as
a leading community solar developer in its home state. As of this
July, Chaberton has over 60 megawatts of community solar generating
capacity completed or under development in the state.
"Chaberton is demonstrating how states with strong community
solar policies can develop impactful clean energy projects that
support the transition to renewables while directly helping
residents," said Erica Brinker,
Chaberton's Chief Commercial and Sustainability Officer "As the
world makes the necessary transition to affordable,
economy-building clean energy sources, Chaberton will be here to
help. We can't wait to see what tomorrow holds."
As a public benefit corporation, Chaberton has achieved its
impressive growth while doing good for the communities it serves.
Chaberton builds on this commitment with Chaberton Cares. Through
this program, Chaberton provides direct funding to nonprofit
organizations local to its solar projects. For every megawatt of
new community solar capacity Chaberton develops, the company
provides $5,000 per megawatt in
funding to local organizations.
In 2020, Chaberton received a corporate-level investment from
Greenbacker's Development Opportunities Fund (GDEV), which makes
corporate investments in sustainable infrastructure development
companies. Managing director and group head of GDEV, Ben Baker shares, "We are proud to be a part of
Chaberton's story and look forward to their continued success. The
discipline that led to this growth, further enabled by GDEV's
catalytic capital, is something we all should be proud of."
About Chaberton Energy
Headquartered in Maryland,
Chaberton Energy is a public benefit corporation focused on
developing sustainable infrastructure and renewable energy
projects. Chaberton's work ranges from site conception to full
operations, emphasizing distributed energy, community solar, and
commercial and industrial initiatives.
Chaberton deeply values the communities it serves, including
employees, landowners, neighbors, customers, regulators,
development partners and investors. Rooted in creativity,
excellence and humanity, the Chaberton team is dedicated to
creating sustainable renewable energy solutions. These projects not
only support the transition to clean energy and reduce pollution,
but they also benefit residents and businesses economically. Learn
more at chaberton.com.
More about the Inc. 5000
Companies on the 2024 Inc. 5000 are ranked according to
percentage revenue growth from 2020 to 2023. To qualify, companies
must have been founded and generating revenue by March 31, 2020. They must be U.S.-based,
privately held, for-profit, and independent—not subsidiaries or
divisions of other companies—as of December
31, 2023. (Since then, some on the list may have gone public
or been acquired.) The minimum revenue required for 2020 is
$100,000; the minimum for 2023 is
$2 million. As always, Inc.
reserves the right to decline applicants for subjective reasons.
Growth rates used to determine company rankings were calculated to
four decimal places.
Chaberton Media Contact
Erica Brinker
412.715.3652
erica.brinker@chaberton.com
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SOURCE Chaberton Energy