Enova ranked 220th in Deloitte's 2011 Fast 500T (5863Q)
October 21 2011 - 1:00AM
UK Regulatory
TIDMENV TIDMENVS
RNS Number : 5863Q
Enova Systems, Inc.
20 October 2011
Enova Systems Ranked Number 220 Fastest Growing Company in North
America on Deloitte's 2011 Technology Fast 500(TM)
For Immediate Release
Torrance, California, October 20, 2011 - Enova Systems today
announced it ranked 220 on Deloitte's Technology Fast 500(TM),
ranking of the 500 fastest growing technology, media,
telecommunications, life sciences and clean technology companies in
North America. The rankings are based on percentage of fiscal year
revenue growth during the period 2006 to 2010.
Enova Systems' Chief Executive Officer, Mike Staran, credits
"traction of our products with key customers, combined with U.S.
government programs incentivizing purchases of all-electric and
hybrid technologies in our market segment". He added, "We are
honored by our ranking in the Technology Fast 500(TM) and thank our
customers for their ongoing support".
"Enova Systems, like all 2011 Technology Fast 500(TM) companies,
have excelled in fostering innovation and channeling it into
spectacular growth -- against the backdrop of one of the most
challenging economies in history," said Eric Openshaw, Vice
Chairman and U.S. Technology, Media and Telecommunications Leader,
Deloitte LLP. "Deloitte recognizes Enova Systems for its remarkable
accomplishment."
"We are pleased to honor Enova Systems as a 2011 Technology Fast
500 company," said Mark Jensen, managing partner, technology and
venture capital services, Deloitte & Touche LLP. "As one of the
fastest growing tech companies in North America, Enova Systems has
demonstrated excellence in technological innovation,
entrepreneurship and rapid growth."
About Deloitte's 2011 Technology Fast 500(TM)
Technology Fast 500, which was conducted by Deloitte &
Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the
fastest growing technology, media, telecommunications, life
sciences and clean technology companies - both public and private -
in North America. Technology Fast 500 award winners
are selected based on percentage fiscal year revenue growth from
2006 to 2010. 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
five years, and be headquartered within North America.
For further information:
Enova Systems, Inc +1 310 527 2800
Mike Staran, President and Chief Executive Officer
John Micek, Chief Financial Officer
Daniel Stewart +44 (0)20 7776 6550
Oliver Rigby
Threadneedle Communications +44 (0)20 7653 9850
Josh Royston
Graham Herring
Hilary Millar
About Enova: Enova Systems (http://www.enovasystems.com) is a
leading supplier of efficient, environmentally friendly digital
power components and systems products. The Company's core
competencies are focused on the development and commercialization
of power management and conversion systems for mobile applications.
Enova applies unique 'enabling technologies' in the areas of
alternative energy propulsion systems for light and heavy-duty
vehicles as well as power conditioning and management systems for
distributed generation systems. The Company develops, designs and
produces non-invasive drive systems and related components for
electric, hybrid-electric, and fuel cell powered vehicles in both
the "new" and "retrofit" vehicle sales market. For further
information, contact Enova Systems directly, or visit its Web site
at http://www.enovasystems.com.
Additional Information: This news release contains
forward-looking statements relating to Enova Systems and its
products that are intended to be covered by the safe harbor for
forward-looking statements provided by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
statements that are not historical facts. These statements can be
identified by the use of forward-looking terminology such as
"believe," "expect," "may," "will, " "should," "could," "project,"
"plan," "seek," "intend," or "anticipate" or the negative thereof
or comparable terminology and statements about industry trends and
Enova's future performance, operations and products. These
forward-looking statements are subject to and qualified by certain
risks and uncertainties. These and other risks and uncertainties
are detailed from time to time in Enova Systems' periodic filings
with the Securities and Exchange Commission, including but not
limited to Enova's annual report on Form 10-K for the year ended
December 31, 2010 and most recent Form 10-Q for the fiscal quarter
ended June 30, 2011.
ENOVA SYSTEMS, Inc. 1560 West 190th Street Torrance, CA
90501
This information is provided by RNS
The company news service from the London Stock Exchange
END
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