by Richard Buckley, Editor, Business Eye

Limerick company Electricity Exchange has taken the number one spot in the 2019 Deloitte Technology Fast 50 ranking, with Belfast-based Catagen coming in second on the list.   Both companies are new entrants to the Deloitte Technology Fast 50 awards programme, which ranks the country’s 50 fastest growing technology companies based on revenue growth over the last four years.


This year marks 20 years of the programme celebrating innovation and entrepreneurship in the island’s indigenous technology sector.

 

Electricity Exchange is a leading provider of demand response technologies and services, deploying technologies to deliver additional revenue directly to commercial and industrial electricity consumers’ bottom line. The company achieved a growth rate of 1442% over the last four years.

Catagen Ltd is an after-treatment automotive emissions specialist, delivering advanced solutions that will have direct impact on cities and air quality. It achieved second spot with a four year growth rate of 1162%.

Cumulatively, the 2019 Fast 50 winners generated approximately €3.6 billion in total annual revenues in 2018 and 18 new companies were listed on the ranking.

 

All four provinces are featured in this year’s awards. 28 of the winners are Leinster-based, 13 are based in Ulster, followed by Munster with 8 companies, and Connacht with 2 companies.* Overall, 14 counties are represented in the 2019 listing.

Peter Allen, Partner at Deloitte, said: “Since 2000, the awards have showcased an innovative and diverse range of technology companies from across the island of Ireland, and this year is no different. Over this time, we have seen local technology companies capitalise on the opportunities presented by global changes. It is fantastic to see so many new entrants perform so strongly in the ranking, and it is encouraging to see these companies use technology innovation to address some of society’s most important issues, from energy solutions to supporting the development of tech talent. We’re delighted to be supporting these companies and recognising them with these awards.”

There was also success for Northern Ireland-based companies in awards presented in addition to the overall ranking. These included the cyber security award, which was presented to Belfast-based Titan IC, who also took home the Innovative New Technology Award, presented in association with Google.

 

Catherine Harrison of Newry-based First Derivatives was also recognised with the Women in Technology Advocate Award, in association with Vodafone.

These MNC patron awards aim to emphasise the importance of the relationship between multinationals and indigenous companies. Also recognised were:

  • Export Award in association with Intel – SilverCloud Health
  • Impact Award in association with PayPal – TEKenable
  • Disruptive Technology Award in association with Facebook – Electricity Exchange

 

Details of the final Technology Fast 50 ranking are available to download at www.fast50.ie.

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Peter Allen, Partner at Deloitte (R) is pictured with Dr Andrew Woods (L), CEO of Catagen.

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