Foster Fuels Watt R. Foster, Jr. Named 2023 EY Entrepreneur of The Year 2023 Mid-Atlantic Winner

Washington, DC, June 27, 2023 --(PR.com)-- Ernst & Young LLP (EY US) announced that Watt Foster of Brookneal, VA headquartered Foster Fuels was named an Entrepreneur Of The Year® 2023 Mid-Atlantic Award winner. The Entrepreneur of The Year Awards program is one of the preeminent competitive awards for entrepreneurs and leaders of high-growth companies. Mr. Foster was selected by an independent judging panel made up of previous award winners, leading CEOs, investors, and other regional business leaders. The candidates were evaluated based on their demonstration of building long-term value through entrepreneurial spirit, purpose, growth, and impact, among other core contributions and attributes.

Since 1988, Watt Foster has led Foster Fuels with the motto "We can always do better... we can always be better," innovating services in ways that revolutionized the now 102-year-old company. Never straying from the heritage and family culture of the small service-oriented business, Foster Fuels has evolved into an award-winning, diversified business that operates on a local, national, and international level. Watt has created a “say yes” culture that has set the standard for the fuel supply industry.

Foster Fuels team has grown to over 200 employees and has held the prime contract for emergency fuel with the federal government since its existence. Through the company’s Mission Critical division, Foster Fuels has responded to the relief efforts for numerous notable events including Hurricane Katrina, the Haiti Earthquake, and most recently the Texas Ice Storm and Hurricane Ian. Foster’s industry-leading mission-critical division which serves FEMA and other governing bodies also provides fuel, water, and additional ground support to numerous private industries listed on the Fortune 500.

For nearly four decades, EY US has honored entrepreneurs whose ambition, courage and ingenuity have driven their companies’ success, transformed their industries and made a positive impact on their communities. Entrepreneur Of The Year Award winners become lifetime members of a global, multi-industry community of entrepreneurs, with exclusive, ongoing access to the experience, insight and wisdom of program alumni and other ecosystem members in over 60 countries — all supported by vast EY resources. Since 1986, the Entrepreneur Of The Year program has recognized more than 11,000 US executives.

As a Mid-Atlantic award winner, Mr. Foster is now eligible for consideration for the Entrepreneur of The Year 2023 National Awards. The National Award winners including the Entrepreneur of The Year National Overall Award winner will be announced in November at the Strategic Growth Forum®, one of the nation’s most prestigious gatherings of high-growth, market-leading companies. The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the World Entrepreneur Of The Year® Award in June 2024.

The Entrepreneur Of The Year program has honored the inspirational leadership of entrepreneurs such as:

· Andreas Bechtolsheim and Jayshree Ullal of Arista Networks
· Daymond John of FUBU
· Hamdi Ulukaya of Chobani, Inc.
· Holly Thaggard and Amanda Baldwin of Supergoop!
· Howard Schultz of Starbucks Coffee Company
· James Park of Fitbit
· Jodi Berg of Vitamix
· Joe DeSimone of Carbon, Inc.
· Kendra Scott of Kendra Scott LLC
· Reid Hoffman and Jeff Weiner of LinkedIn Corporation
· Sheila Mikhail of AskBio

Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, N.A.; SAP America; and the Kauffman Foundation. In Mid-Atlantic, sponsors also include Cresa Global, Inc., Cooley LLP, DLA Piper LLP, ADP, and Kelly Benefits Strategies.

About Entrepreneur Of The Year®
Entrepreneur Of The Year® is the world’s most prestigious business awards program for unstoppable entrepreneurs. These visionary leaders deliver innovation, growth and prosperity that transform our world. The program engages entrepreneurs with insights and experiences that foster growth. It connects them with their peers to strengthen entrepreneurship around the world. Entrepreneur Of The Year is the first and only truly global awards program of its kind. It celebrates entrepreneurs through regional and national awards programs in more than 145 cities in over 60 countries. National Overall Award winners go on to compete for the World Entrepreneur Of The Year® title. Visit ey.com/us/eoy.

About EY Private
As Advisors to the ambitious™, EY Private professionals possess the experience and passion to support private businesses and their owners in unlocking the full potential of their ambitions. EY Private teams offer distinct insights born from the long EY history of working with business owners and entrepreneurs. These teams support the full spectrum of private enterprises including private capital managers and investors and the portfolio businesses they fund, business owners, family businesses, family offices and entrepreneurs. Visit ey.com/us/private.

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