Viridian Energy is now open for business in Texas, the largest deregulated energy market in the U.S. The latest expansion puts the green energy company in 19 markets nationwide.
“Texas accounts for an eighth of America’s overall energy consumption, and we’re excited to further our company’s sustainability mission by offering consumers one more way to stretch their energy budgets while helping the environment,” CEO Michael Fallquist said in a statement.
To mark the opening of Viridian’s new market, employees and Independent Associates put in more than 150 volunteer hours at the Trinity River Corridor Project, an extensive public works and urban development project underway in Dallas. The volunteers removed 2,050 pounds of invasive plants, trash and debris from the Dallas Floodway.
Viridian is the largest subsidiary of Crius Energy Trust, accounting for more than half of the company’s total sales. The Stamford, Connecticut-based company offers electricity that is more than 50 percent renewable, natural gas with carbon offsets and residential solar power.
Crius Energy reported revenue up 32.1 percent to $204.1 million in the third quarter. Management said revenue growth was largely driven by the acquisition of TriEagle Energy in April. Earnings before interest, taxes, depreciation and amortization totaled $16.1 million, versus $15.2 million a year ago.