Enphase wins the fastest-growing clean technology company award out of all listed clean technology companies in Deloitte’s Technology Fast 500. From 2008 to 2012, the company grew 12,890%. The company was ranked 14 overall out of the 500 companies listed.
North American industry sectors ranked include technology, media, telecommunications, life sciences, and clean technology. Deloitte ranks the 500 fastest-growing companies based on percentage fiscal year revenue growth from 2008 to 2012. During this period, Enphase grew an astonishing 12,890%. The company was ranked 14 overall out of the 500 companies listed.
From 2008 to 2012, Enphase released three generations of microinverter systems and became a dominant residential inverter technology in the Americas. According to Enphase’s monitoring software platform, Enlighten, the over 100,000 reporting systems have generated more than 1TWh of clean energy to date. Also during this period, the company expanded outside North America, shipping into eleven countries.
Enphase recently announced its results for the third quarter of 2013, reporting record-breaking revenue of $62 million and gross margin of 28.1%.
Paul Nahi, CEO of Enphase, commented: “Enphase has worked diligently to pioneer and deliver innovative microinverter technology for the solar industry, while building a sustainable global business over the past five years. We are proud to be recognized by Deloitte, and it is an accomplishment verified by the more than four million Enphase microinverters we have shipped worldwide.”
Overall, 2013 Technology Fast 500 companies achieved revenue growth ranging from 137% to 208,897% between 2008 and 2012. The average growth rate was 2,600%, and 23 out of 500 companies had growth in excess of 10,000%.
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.