Published: May 16, 2008 12:17 pm            

Banking on green: Start-up broadening range of alternative energies

NORTH ANDOVER, Mass. — A local company appears poised to ride the growing wave of interest in all things green to lots of greenbacks.



"The sky's the limit," proclaimed Henri-Claude Bailly, the new chief executive officer and chairman of the board at Nexamp, an alternative energy company with offices in a turn-of -the-century mill.



"We could turn this into billions of dollars," he said.



That's not a bad forecast for a 2-year-old start-up created by North Andover native Dan Leary, who came up with the idea for the company while serving in Kuwait during Operation Iraqi Freedom.



Last week, Nexamp had an open house to celebrate a name change, new headquarters and what its principals see as unlimited growth potential thanks to investors like Bailly and others who believe the United States alternative energy market is about to explode.



When Leary started the company two years ago, Nexamp, formerly NexGen, focused primarily on solar panel installations. Since, it has grown from just two employees to 10, with an eye toward further expansion by the end of this year. Using state and federal programs that encourage investment in alternative energy, those at Nexamp hope to continue the growth and branch out into energy trading, financing and carbon footprint assessments.



"We're going for it," Leary told the roughly 150 people who attended the event at East Mill.



David Cash, assistant secretary for policy with the state's Executive Office of Energy and Environmental Affairs, attended as a vote of confidence in the new venture, he said.



"Nexamp is the exemplar of the type of clean energy company the governor envisions driving the green economy," he said of his boss, Deval Patrick, who has mentioned the firm at least twice in recent speeches.



In a speech on economic development last month, Patrick noted that Nexamp founder Leary started the company in a pick-up truck with a laptop.



Leary said he always planned on growing the business.



"Our vision was to be a renewable energy and energy conservation company," Leary said. "We always wanted to be more than just a solar company."



Will Thompson, Leary's original business partner and a high school buddy who is now vice president for integration, said the company really took off about a year ago.



Now, Nexamp not only puts solar panels on businesses and homes across the Merrimack Valley, North Shore and Southern New Hampshire, it also has branched out into geothermal, wind and small hydroelectric (micro-hydro) projects. Nexamp helps companies, municipalities and residents sort out the complex world of rebates, tax incentives and carbon offsets offered by the state and federal governments for such projects.



Bailly said Nexamp will succeed because it is in the right place at the right time. The United States is behind Europe and Japan when it comes to carbon trading and carbon footprint reduction.



"It's a fertile market," he said.



Michael Leary, Dan's father and a financial planner, agreed.



"This is the absolute right time," he said. "The stars are in alignment."



He said one of the secrets of the company's success is that Leary and Thompson have made an effort to hire military veterans. So far, seven of the 10 people working at the company are veterans.



"It's a really good corporate culture," the senior Leary noted. "They know their mission and what they have to do."



Dan Leary hasn't forgotten his roots.



"I'd like to thank our comrades who are serving down-range," he told the gathering during Thursday night's open house. "They're making this country a little better."



And that's something Leary and his colleagues say they hope to do, too.



Bill Kirk writes for The Eagle-Tribune in North Andover, Mass.

        

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