Caroline County Economic Development

M&M Carnot Expanding in Caroline County

Governor Larry Hogan announced today that M&M Carnot, the most experienced natural refrigerant company in the Americas, is doubling its workforce in Caroline County. Located at 412 Railroad Ave in Federalsburg, M&M Carnot is expanding its presence and leasing an existing 25,000 square-foot space next door, with room available for future expansions. M&M Carnot currently employs approximately 100 workers in the county and anticipates adding 100 new jobs over the next two years.

“We are proud to support M&M Carnot’s expansion in Federalsburg, where 100 new jobs will have a significant impact on the Eastern Shore community,” said Governor Larry Hogan. “The company has had great success in growing its staff recently, and we believe this additional space will allow M&M to continue expanding its manufacturing and production, as well as its workforce, in Maryland.”

Formed in 1969, M&M Carnot is known as one of the leading industrial refrigeration companies in the world. The company focuses on natural refrigerants and “green refrigeration” that have little impact on ozone or global warming. Its systems are used across several industries and are implemented in cold storage, food processing, ice rinks, and supermarkets.

The additional Federalsburg space will allow M&M Carnot to continue expanding to meet the growing need for sustainable products, as well as the increased demand for food refrigeration as experienced during the pandemic. Previously known as M&M Refrigeration, the company changed its name after acquiring the Canadian business Carnot Refrigeration in 2019.

“We are excited to expand our natural refrigeration business in Federalsburg,” said David Sholtis, CEO of M&M Carnot. “With the hard-working people of Caroline County, we can continue to meet the rapidly growing needs of our customers for natural refrigeration solutions. On behalf of everyone at M&M Carnot and our private equity partner Source Capital LLC, I want to thank the Caroline County community as well as state and local officials in Maryland for supporting us and helping to make this expansion a success. We especially want to thank our employees at the facility for continuing to do a great job for our customers every day making the highest quality natural industrial refrigeration equipment.”

“We are so pleased that another Caroline business is expanding, and that we continue to have a great partnership with the Maryland Department of Commerce,” said Debbie Bowden, Director of Economic Development and Tourism for Caroline County. “When we first sat down as a team to discuss how we can support this growth opportunity, it was evident that this was going to be a success story. The continued commitment by M & M Carnot to Federalsburg and Caroline County is the outcome we strive toward for all businesses in the County.”

To assist with the expansion, the company is eligible to apply for several state programs and incentives, including More Jobs for Marylanders; Partnership for Workforce Quality; the Job Creation Tax Credit; and others.

“While Maryland’s advanced manufacturing sector continues to grow, so does our tech-savvy and highly-skilled workforce,” said Maryland Commerce Secretary Mike Gill. “M&M Carnot’s investment in our state is the perfect example of these assets working together to create great things in the Mid Atlantic. We look forward to watching the company continue expanding in the years to come.”

“M&M Carnot is the type of Caroline County business success story that we see often,” said County Commission President Larry D. Porter. “It is no surprise that the company is growing, as many companies are in the County, because of leadership from the founder to the current executive team. As we like to say, this is one more example of the strength of Caroline County and its people.”

To learn more about the company and explore current job openings, visit

Caroline County Economic Development and Tourism is an office within Caroline County government. Its mission is to help businesses of all sizes thrive in the community. Debbie can be reached at 410-479-4188 or

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