Corinex Ranked Number 331 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™
Attributes 352% Revenue Growth to expanded product offerings, successful strategic partnerships, and increased demand for grid flexibility solutions in international markets
VANCOUVER, BC, Nov. 22, 2024 /PRNewswire/ -- Corinex today announced it ranked 331st on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year. Corinex grew 352% during this period.
Corinex's chief executive officer, Peter Sobotka, credits the innovative collaboration with E.ON UK, E.ON Group Innovations, and Corinex on the launch of Corinex's new product portfolio of grid flexibility solutions, and the expansion of its grid visibility solutions across Germany, with driving the company's impressive revenue growth. This expansion includes partnerships with major Stadtwerke, such as Stromnetz Hamburg and Regensburg Netze, along with recent sales and deployments in the German market. Sobotka remarked, "Corinex presents a significant value proposition by resolving global grid constraints and providing the flexibility needed to scale low-carbon technologies (LCTs). Addressing this issue is essential for utilities, consumers, and providers of low-carbon technologies. It enables the protection of the grid, unlocks rapid revenue and profit growth through accelerated connections of LCTs, and facilitates mass consumer participation, which is critical for advancing worldwide government efforts toward decarbonization. Our solution can be implemented in any regulatory environment and energy market design, and it can be provided as a new system or by retrofitting the existing low-voltage infrastructure. We work directly with our customers and strategically with technology partners, including Accenture and E.ON, to scale our solutions globally and meet the demands of an evolving energy landscape."
"For 30 years we've been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year's list, surpassing life sciences for the first time," said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. "Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program's history. This year's winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated."
"Innovation, transformation and disruption of the status quo are at the forefront for this year's Technology Fast 500 list, and there's no better way to celebrate 30 years of program history," said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte's Audit & Assurance practice. "This year's winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year's winners — it's an incredible time for innovation."
About the 2024 Deloitte Technology Fast 500
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.
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 US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Corinex
Corinex is a pioneering provider of broadband over power lines (BPL)-based grid visibility and flexibility solutions, enabling the digital transformation of energy distribution systems worldwide. The company's products accelerate the mass integration of low-carbon technologies (LCTs), automate electricity infrastructure, and transform the grid into a dynamic and intelligent energy system.
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