PBN Fastest Growing Companies 2023
$5 million to $25 million No. 1. E2SOL LLC
CEO (or equivalent): Anthony Baro, principal
2022 Revenue: $19.7 million
2020 Revenue: $1.4 million
Revenue growth: 1,288.9%
Valuing tenacity, coupled with a focus on customer and vendor relationship growth, company leaders say, is what has propelled the Providence-based, family-owned renewable energy firm to sustainable growth within an established growth industry.
E2SOL’s revenue grew by 1,289% in 2022 compared with 2020, earning $19.7 million in 2002.
“We are very fortunate that we are involved in this industry,” Principal Anthony Baro said. “All of our growth has been organic and it’s really [from] trying to do a good job for every customer. Every customer has been spreading the word through their networks.”
Baro founded E2SOL in 2010 with a stated purpose of innovation in the renewable energy products field. E2SOL has satellite offices in Fall River and Boca Raton, Fla. It also has representatives based in Puerto Rico.
E2SOL offers sustainable design and engineering services, as well as sustainable energy engineering services.
“We are helping our customers to do two things – save money or make money,” Baro said. “It is gratifying for us to be able to do that so that we can help spread the wealth in the business sector. At the same time, it gives us comfort that we’re helping to make a mark in the environment, helping to make the environment healthier.”
Brianna Baro has been a sustainable projects analyst with E2SOL for three years after completing an internship there while earning her undergraduate degree at Rhode Island College. In her role, she focuses on researching companies within industries that have high energy usage and approaches them about the benefits of transitioning to sustainable energy services and resources.
Brianna Baro said it’s important to stress that E2SOL is not a sales and marketing-based firm.
“It’s really just trying to get the message across that at the end of the day, we’re here to share this information with you,” she said. “In this economy, persistence is huge. The economy has been crazy these last couple of years.”
E2SOL navigated operational challenges presented by the COVID-19 pandemic by adopting virtual technologies and meeting practices that improved operational efficiencies. This allowed the company to tackle a backlog of project developments.
Anthony Baro points to an increase in consumer awareness of the benefits of renewable energy – both on the environment and on the bottom line – from residential and commercial clients, though the bulk of E2SOL’s business is in commercial energy storage.
He also remarked on the company’s focus on talent development, which he said has helped grow E2SOL’s reputation and referral network.
As one of the company’s newer employees, Brianna Baro said she has witnessed the positive effects of creating a workplace environment that fosters growth from within.
“Everybody learns something new every day, no matter your position. It’s really open, you can ask any question you want,” she said. “Everyone says they love coming to work.”
The company’s sense of team unity, she said, was a contributing factor to maintaining a positive attitude and still being able to achieve goals and growth during the pandemic.
“The whole industry was disrupted, and everybody was on edge,” she said. “Employees really working together and being open to transitioning to a new way of working temporarily was huge.”
Now that everyday operations have moved past COVID-19, E2SOL continues to rely on that sense of optimism as it continues to strive for innovation and excellent customer service to drive even further growth.
In 2022, E2SOL was named Providence Business News’ most innovative company in Energy & The Environment for its innovation in product design that would allow highway medians and rest areas to convert solar power into energy that recharges electric vehicles.
Past developments also include a low-profile marine vertical axis wind generator.
“We’re trying to craft unique projects for our company. That’s what’s gotten us this far,” Brianna Baro said. “This award is amazing. It’s another way for us to recognize just how much and how fast we’re growing in such a short period of time. It’s a new milestone.”