For the third time in a row, H2O Innovation rewarded three times in the 2012 Deloitte Technology Fast 50™ program
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QUEBEC, Nov. 14, 2012 /CNW Telbec/ - (TSXV: HEO) - H2O Innovation Inc. ("H2O Innovation" or the "Company") has been rewarded three times in the 2012 Deloitte Technology Fast 50™ program, renewing the success of its two previous years. H2O Innovation ranks 34th among the Deloitte Technology Fast 50™, which recognizes the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. H2O Innovation also wins, for the fourth year in a row, the prestigious Deloitte Technology Green 15™ Award, an award created in 2007 to showcase 15 Canadian companies that are leading the way to create major breakthroughs in the field of green technology. Finally, H2O Innovation ranks 260th on Technology Fast 500™, Deloitte's ranking of 500 of the fastest growing technology media, telecommunications, life sciences and clean technology companies in North America.
Now in its 15th year, the Deloitte Technology Fast 50™ program recognizes leaders in the Canadian technology industry and tracks the successful growth of Canadian-grown global leaders. The program augments the broader Deloitte North American Technology Fast 500™ initiative, with winners automatically eligible for this elite ranking.
"Sustained growth is not easy - it comes with a lot of challenges and pressure on our organisation. But we have been able to cope with all these complexities and successfully execute our projects through hard work, team effort and focus. The financial results of the first quarter of our fiscal 2013, which were released yesterday, acknowledge this growth, and our company's profitability reflects our strategic realignment and increased accountability", declared Frédéric Dugré, President and CEO of H2O Innovation.
"Canadian Fast 50 companies innovate, demonstrate entrepreneurship, create jobs, and invest in R&D," said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "H2O Innovation is an example of a company that shows passion, determination and drive that are so important for growth in the Canadian technology sector."
"The 2012 Technology Fast 500™ winners are true leaders who leverage their entrepreneurship and technological innovation to achieve strong growth. Their commitment and leadership continue to transform the technology sector," Richard Lee added.
To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
To qualify for the Technology Green 15™ Award, candidates must be headquartered in Canada and devote a significant portion of their operating revenues to creating proprietary technology and/or intellectual property.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About the Deloitte Technology Fast 50™ - The Deloitte Technology Fast 50™ program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50™ Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50™ candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15™ Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, Wellington Financial, TMX Group, Hub International HKMB, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca.
About H2O Innovation
H2O Innovation designs and provides state-of-the-art, custom-built, and integrated water treatment solutions based on membrane filtration technology to municipal, energy & natural resources end-users. H2O Innovation also provides a complete line of specialty chemicals and consumables for membrane filtration and reverse osmosis systems. For more, visit www.h2oinnovation.com.
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