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Chroma Energy

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Software applications for 3-d seismic interpretation in the exploration of oil and gas

United StatesFounded 1998Energy
Valuation $100–250M Last recorded · 2005
Total funding $10–50M Disclosed equity funding
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About Chroma Energy

Chroma Energy Group, founded in March 2023 by Ed Rottmann, operates as a nationwide solar engineering, procurement, and construction (EPC) contractor. The company's inception was marked by the strategic acquisition of Efficient Energy of Tennessee (EETN), a solar contractor with 14 years of established expertise. This acquisition provided Chroma with a foundational portfolio and an experienced team. Rottmann, who holds a bachelor's in business administration from the University of Kentucky and an MBA from Vanderbilt University, brings a pragmatic business approach from his previous role as COO for Stowers Machinery, a major Caterpillar distributor. He aims to complement the existing energy grid rather than directly compete with fossil fuels, viewing an augmentation of energy sources as essential for grid reliability and capacity.

The firm provides turnkey services, primarily focusing on solar installation for large-scale projects. Its client base includes federal government entities, utilities, and industrial and commercial businesses, deliberately avoiding the residential sector to concentrate on larger systems. Chroma Energy's business model involves self-performing approximately 95% of its installation work with its in-house team of certified professionals, a practice that differentiates it from typical EPCs that heavily subcontract. This ensures control over quality and project execution. The company has rapidly scaled its operations, with a portfolio of over 120 megawatts in solar and battery storage projects. Revenue is generated through these comprehensive EPC services, guiding clients from initial concept and design through to final installation and activation.

Chroma Energy offers a spectrum of services including the design and installation of commercial and utility-scale solar arrays, microgrids, battery energy storage systems (BESS), and EV chargers. They utilize 30-year production modeling to help clients forecast energy output, savings, and return on investment. A significant aspect of their service is educating clients on available incentives and how to market their green initiatives. The company also provides operations and maintenance services, as demonstrated by their work with the Knox County school system to restore malfunctioning solar capacity. A key focus for the company is expanding into additional renewable energy products, including energy storage and other clean technology initiatives.

Source: Dealroom company data

At a glance

Status
Operational
Founded
1998
Headquarters
United States
Open positions
None listed
Dealroom signal
18.0/100
Industry
Energy
Sub-industry
Oil & Gas
Sector
Energy, Data Analytics, Hard Tech
Business model
SaaS
Client focus
b2b
Links
Website

Funding history

1 recorded event

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SEED✓Equity / VC Sep 2005 $20M $79M Undisclosed —
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