Based on companies' revenue growth, the FT1000 ranking is widely recognized as one of the most objective business rankings in Europe.
Menlo Electric supplies photovoltaic components to installers, distributors and investors across Europe, the Middle East, and Africa, with a growing presence in the United States. Founded in 2020, Menlo Electric has rapidly expanded its operations, reaching $150 million in annual revenues and delivering 1.3 GW of components to its clients last year – enough to power a city the size of Amsterdam.
Commenting on the achievement, Bartosz Majewski, CEO and co-founder of Menlo Electric, said:
“This recognition was only made possible through the dedication of our employees – both past and present – and the trust of our clients and suppliers. We deeply appreciate our partners who have supported us in navigating the challenges of our rapid growth.”
What Sets Menlo Electric Apart?
A key factor behind Menlo Electric’s success is its highly international client base. While many distributors primarily operate in a single national market, only 20-25% of Menlo Electric’s sales come from Poland. The company serves clients across all of Europe, but also has hubs in the Middle East and North Africa – serving clients from Senegal to Pakistan – as well as Southern Africa and an emerging presence in the United States. This geographical diversification ensures business resilience against fluctuations in individual national markets.
A Flywheel For Industry Initiatives
Menlo Electric has also been actively involved in innovative industry initiatives that drive market development. One such initiative is sun.store, the largest online marketplace for renewable energy components, where Menlo Electric was one of the first users and remains a member of the Board of Advisors. Menlo Electric was also the first distributor of Photonica – a solar mounting structure and electrical components manufacturer – delivering its solutions to clients in 10 countries across Europe and South Africa.
Moreover, Menlo Electric initiated Solar2Share, a charitable initiative through which equipment manufacturers, distributors and installers have already donated 25 solar and storage installations to schools, orphanages, and hospitals across almost 10 countries in Europe and Africa.
Looking Ahead
“After several years of growth, the solar and storage industry is now entering a consolidation phase. To this end, we are currently in discussions with potential investors.” – confirms Majewski.
By securing fresh capital, the company aims to strengthen its international footprint, further develop its online and offline distribution channels, and solidify its position as a major distributor in the global renewable energy sector.
