ReVision Energy converts to employee ownership

Nov 12, 2017
ReVision Energy's Liberty employees following the company's ESOP ownership announcement Nov. 1.

Liberty — ReVision Energy, with locations in Maine, New Hampshire and Massachusetts, has converted to 100-percent ownership by an ESOP (Employee Stock Ownership Plan) Trust.

The company's three co-founders chose the ESOP option after a three-year exploration of various strategies to ensure ReVision Energy's long-term economic and environmental sustainability.

"We are investing the future of our company in the exceptional people who have worked hard all these years to build ReVision Energy into one of the best solar companies in the world," said company co-founder Phil Coupe.

"Converting to 100-percent ESOP means that every employee can financially benefit from the success of the business as we continue our mission to transition New England from a fossil fuel-based economy to a sustainable, renewable energy-based economy," he said. "We believe this is the best future we can create for all our employees and for our commitment to sustainable energy."

Historically, ReVision Energy has distinguished itself as a mission-driven, values-oriented company. In 2015, ReVision Energy became a certified B-Corp, signifying that the company is operated with a goal of creating maximum positive impact rather than just focusing exclusively on maximizing shareholder returns. Other notable B-Corps include Ben & Jerry's Ice Cream, King Arthur Flour and Patagonia, which all share in common a "triple bottom line" business philosophy of People, Planet and Profits.

Since 2003, the company has grown from two guys in a garage to more than 200 employees today operating out of five locations in Maine, New Hampshire and Massachusetts.

In addition to designing and installing solar electric systems and solar hot water systems, ReVision Energy also specializes in the complementary technologies of battery storage, electric vehicle charging stations, heat pumps and microgrids, thereby providing all the tools necessary to drastically reduce, if not eliminate, fossil fuels.

According to the ESOP Association, 84% of companies that convert to ESOP report higher levels of employee motivation and productivity. Research shows that employee ownership builds successful, competitive companies and creates equitable wealth for employees. It has been shown that ESOP companies pay better benefits, have twice the retirement income for employees and pay higher wages than non-ESOP companies.

The company has locations in Liberty and Portland, Maine; Concord and Exeter, N.H.; and Andover, Mass.

 

 

 

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