SOURCE: Greensmith

Greensmith

November 13, 2015 13:00 ET

Greensmith Ranked Number 32 Fastest Growing Company in North America on Deloitte's 2015 Technology Fast 500™

Attributes 3209 Percent Revenue Growth to Growing Demand for Its GEMS Energy Storage Software Platform

HERNDON, VA--(Marketwired - Nov 13, 2015) - Greensmith, a leading provider of grid-scale energy storage software and integration services, today announced it ranked number 32 on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Greensmith grew 3209 percent during this period.

Greensmith also ranked number two among energy tech companies on Deloitte's Technology Fast 500.

Greensmith's chief executive officer, John Jung, credits Greensmith's long and successful project deployment track record and powerful GEMS energy storage software platform with the company's 3209 percent revenue growth.

"We are honored to be selected for Deloitte's 2015 Technology Fast 500 and especially pleased we were ranked number two among energy tech companies," said Jung. "Our strong financial growth, fueled by best-in-class software and expertise, validates our leadership position as the technology partner of choice for companies seeking to capture the value of energy storage over the long term."

This recognition adds to an impressive list of accomplishments and accolades for Greensmith in 2015. In March, Greensmith announced that it had delivered more than one-third of all U.S. energy storage deployments in 2014. Later in the year, Greensmith was named:

In addition, Greensmith announced a $12.3 million Series C financing round led by American Electric Power (NYSE: AEP) in September.

About Deloitte's 2015 Technology Fast 500™
Deloitte's Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences 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 2011 to 2014.

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 four years and be headquartered within North America.

About Greensmith:
Greensmith's mission is to make energy storage a fundamental component of a cleaner, more advanced energy infrastructure. Its intelligent and flexible GEMS software platform optimizes the performance of a grid-scale energy storage system's batteries, inverters and other hardware, lowering costs and improving the system's return on investment. Greensmith delivered one-third of the energy storage capacity installed in the United States in 2014. Its GEMS energy storage software platform is currently used by more than 20 customers for multiple applications at 50 different sites, including the single largest battery-based energy storage system deployed globally in 2014, which provides 24x7 frequency regulation services. Learn more at www.greensmithenergy.com.

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