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QUEBEC CITY, Nov. 14, 2013 /CNW Telbec/ - (TSXV: HEO) - H2O Innovation Inc. ("H2O Innovation" or the "Company") has been rewarded three times in the 2013 Deloitte Technology Fast 50™ program, renewing the success of its three previous years. H2O Innovation ranks 36th among the Deloitte Technology Fast 50™ ranking, which recognizes the 50 fastest growing Canadian technology companies with the highest percentage of revenue growth over five years. H2O Innovation also wins, for the fifth year in a row, the prestigious Deloitte Technology Green 15™ awards, awarded to companies based on their ability to develop technology solutions and intellectual property that promote a more efficient use and re-use of the earth's resources. Finally, H2O Innovation ranks 341th on Technology Fast 500™, Deloitte's annual ranking of the 500 fastest growing technology media, and telecommunications companies in the United States and Canada.
Launched over 15 years ago, the Technology Fast 50™ program recognizes the world-class achievements and tremendous evolution of the Canadian technology sector. The program augments the broader Deloitte North American Technology Fast 500™, as winners are eligible for this prestigious ranking.
"For the last two years, we have focused on reaching operational excellence for the purposes of improvement of profitability. Moreover, we have taken certain actions in order to solidify our business model and to stabilize our operations. Today, I am convinced that we are better equipped and ready to begin a new phase of organic growth and through strategic acquisitions", declared Frédéric Dugré, President and CEO of H2O Innovation.
To qualify for the Deloitte Technology Fast 50™ ranking, companies must have headquarters in Canada, have been in business for at least five years, have revenues of at least $5 million, own proprietary technology, and conduct research and development activities in Canada.
To qualify for the Technology Green 15™ awards, companies must develop Canadian-based intellectual property that has the potential to achieve global leadership. They must deliver solutions that offer a compelling return on investment for customers and encourage widespread commercialization of the technology. They must create a measurable reduction of their customers' environmental footprint and energy usage.
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™ - Recognizing the broad and evolving spectrum of technology companies in Canada, the Technology Fast 50™ program has grown to include four awards categories: the Technology Fast 50™ ranking, Companies-to-Watch awards (Canadian technology companies in business less than five years that have the potential to be a future Technology Fast 50™ candidate), Technology Fast 50™ Leadership awards (companies that demonstrate innovation, leadership and are the elite members of the Canadian technology industry), and the Technology Green 15™ awards (companies chosen based on their ability to develop technology solutions and intellectual property that promote a more efficient use and re-use of the earth's resources.) Technology Fast 50™ sponsors include Deloitte, Bennett Jones, and OMERS Ventures. 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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SOURCE: H2O Innovation Inc.
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H2O Innovation Inc.