SOURCE: Greensmith

Greensmith

November 03, 2015 16:00 ET

Greensmith Tops the Washington Business Journal's 2015 List of "Fastest Growing Companies"

Demand for Greensmith's GEMS Energy Storage Software Platform Drives Average Revenue Growth of More Than 195 Percent Between 2012 and 2014

HERNDON, VA--(Marketwired - Nov 3, 2015) - Greensmith, a leading provider of grid-scale energy storage software and integration services, was named the number one company on the Washington Business Journal's 2015 list of the Fastest Growing Companies in the greater Washington, D.C. area. Greensmith secured the top spot on the list with an average growth rate of 195.93 percent between 2012 and 2014.

"Greensmith is recognized for best-in-class technology and megawatts delivered, but financial growth is key to lasting leadership in the energy storage market," said Greensmith CEO John Jung. "So we are honored to be named Fastest Growing Company by the Washington Business Journal after our recent Inc. 5000 award. And with an expanding pipeline that exceeds 500 megawatts and continued investment in our business, a growing number of customers are choosing Greensmith as their long term technology partner."

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.

The Washington Business Journal's list of Fastest Growing Companies recognizes companies with at least three years of consecutive revenue growth. Participating companies must have more than $2 million in revenue in 2012 and more than $10 million in revenue in 2014 to qualify.

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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