DURHAM, N.C.--(BUSINESS WIRE)--Phononic today announced it ranked number 66 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. Phononic grew 1934% during this period.
Phononic’s chief executive officer, Dr. Tony Atti, credits adoption of the company’s breakthrough solid-state thermoelectric technology by customers across industries – from commercial food and beverage to optoelectronics – with the company’s 1934% revenue growth. He said, “Phononic’s innovative solid-state cooling and heating solutions disrupt antiquated business models and incumbent technologies, delivering features never thought possible with semiconductors. Using just CO2 and water, our system is non-toxic and non-flammable— the most sustainable cooling and heating solution on the planet."
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
Overall, 2019 Technology Fast 500™ companies achieved revenue growth ranging from 166 percent to 37,458 percent from 2015 to 2018, with median growth of 439 percent.
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, 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 2015 to 2018.
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 $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Phononic is reimagining cooling and heating in ways never thought possible. Its breakthrough solid-state technology is transforming industries and creating new markets with innovative solutions that disrupt antiquated business models and incumbent technologies. Phononic is the critical element of innovation needed to radically change what it means to be efficient, effective and sustainable. The company has been named to the 2016, 2017 and 2019 CNBC Disruptor 50 lists, received the US EPA’s 2017 Emerging Tech Award, R&D 100 Award and more.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.