MONTREAL, QUEBEC—Verdant announced it ranked No. 418 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 now in its 25th year. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2015 to 2018. Verdant grew 218 percent during this period.
Alain Belanger, Verdant CEO, credits demand for Verdant energy-management solutions to increasing energy costs, revised building code mandates and the benefits derived from utility program rebates. Increased brand awareness, repeat business from loyal customers, and the easy-to-install plug-and-play nature of its solutions also are contributing to the company’s rapid growth. In less than three years, Verdant has doubled its revenues and the company is adding 20 to 30 employees in the coming year to meet order fulfillment. More than 50 properties install Verdant solutions each month.
“Verdant is proud to be recognized as one of North America’s fastest growing technology companies,” said Belanger. “Our accelerated growth over the last three years has been nothing short of outstanding and reinforces our position as a preeminent leader of energy-management technology for commercial buildings.”
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 most of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000, and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.