Swell Energy Earns a Spot on Inc. Magazine's 2023 List of 5000 Fastest-Growing Companies. The company placed in the top 25%, double the list’s median growth.
As virtual power plants (VPPs) take center stage with the Department of Energy, underscoring the critical role that VPPs need to play in our clean energy future, Swell Energy is pleased to announce the company’s inclusion in the prestigious Inc. 5000 list. Landing at number 1,228, Swell is among the top 25% of successful companies demonstrating skyrocketing growth.
“Nowhere else will you find a list of companies with a greater impact on the U.S. economy,” notes the editors of Inc. magazine. In total, the companies on the Inc. 5000 list have generated $358 billion in revenue in 2022 and have created 1,187,266 jobs.
The annual compilation measures the success of U.S.-based, privately held, for-profit, and independent companies based on the percentage of revenue growth. For this year’s list, companies provided revenue data from 2019 through 2022.
Inclusion in this list of companies helps validate Swell’s business model that deploys solar and battery storage, optimizes energy usage in real-time, and develops virtual power plants that reduce dependence on fossil fuels and promote a renewable energy future.
Swell's performance proved more robust than that of most of the companies named to the list. While the median growth for all companies was 219%, Swell's was 481%—more than double the average.
Further, and perhaps most impressively, only 83 out of the 5,000 companies – 1.7% of the list – are in the energy industry. Within this niche group, Swell ranked #37 – placing it in the upper half of energy companies recognized by Inc. Magazine.
The Inc. 5000 list is a distinction not based on subjective decisions, opinions, or whim but rather on proven business results.
"To make the Inc. 5000—with the fast growth it requires—is truly an accomplishment. Inc. is thrilled to honor the companies building our future," says Inc. editor-in-chief Scott Omelianuk.
The senior leadership at Swell wishes to recognize the employees, partners, suppliers, and customers who have helped the company achieve consistent, outsized performance over the last three years; it is a testament to everyone's hard work to build and deliver products and services the industry needs.
For more information about the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, please visit www.inc.com/inc5000.