Reviewed by: Nathan Watson
EBSCO Industries, one of Alabama’s largest privately held companies, is investing in Cherry Street Energy—Georgia’s leading renewable power company. The capital investment will accelerate the growth of Cherry Street’s renewable energy platform throughout Georgia and across the nation.
About Cherry Street
Unlike solar panel retailers or solar contractors, Cherry Street Energy designs, engineers, constructs, operates and maintains its own energy infrastructure. Cherry Street Energy simply charges its customers for the renewable power they consume.
Cherry Street Energy provides a platform that delivers businesses, municipalities, hospitals and schools an accessible path to renewable energy without the complexity and up-front costs that are typically required.
Since 2016, the innovative company has focused on supporting large renewable energy projects for municipalities, manufacturing, schools and universities, hospitals and businesses across Georgia. They do not offer renewable energy to residents at this time.
Some of Cherry Street Energy’s current clients include:
- Municipalities — Atlanta, Macon, Savannah
- Universities — Emory University
- Businesses — Porsche USA. Headquarters, Gulfstream, Terrapin Brewery
This investment from EBSCO enables the company to expand and take their platform nationwide.
EBSCO is working with Cherry Street Energy to evaluate generating solar power at EBSCO businesses across the US.
Helping meet renewable energy goals
“Cherry Street has proven to be the solution companies need to meet their renewable energy goals. This investment positions us to help our partners move even faster toward a future where renewable energy will play an important role,” said Michael Chanin, Cherry Street Energy CEO.
The new investment comes on the heels of the federal government’s passage of the Inflation Reduction Act this Summer which strengthens the opportunity for the development and adoption of renewable and sustainable energy.
“Cherry Street aligns well with our mission to create positive results in the people we employ, in the business we build, and in the communities where we work and live,” said EBSCO Industries’ CEO, David Walker. “We are excited about the opportunity to support Michael and his team as they expand Cherry Street.”
Will Cherry Street Energy be hiring in Alabama?
We reached out to Jennis Warren, the Director of Growth with Cherry Street and a Birmingham native about whether the company will begin hiring in Alabama.
“We were founded in Atlanta Georgia and will be maintaining our headquarters there,” Warren said. “While we are not specifically hiring employees in Alabama. We have team members located across the United States, and we are growing. We welcome applicants interested in the renewable energy industry from all states!”