Oct. 19, 2011
(NASDAQ: AMBT), today announced it ranked 140th on Deloitte's Technology Fast 500™ ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in
. Ambient's annual revenue grew 771 percent from 2006 to 2010.
Ambient's chief executive officer,
John J. Joyce
, credits the continued deployment of the Ambient Smart Grid® communications platform at Duke Energy with the company's 771% revenue growth.
Mr. Joyce commented, "The modernization of the electric infrastructure is gaining traction, enabling the deployment of a flexible infrastructure. We at Ambient are excited to be on the leading edge of that transformation. We thank Deloitte for this award and feel it reflects not only our success but the success of our approach to the smart grid in general."
"Ambient, like all 2011 Technology Fast 500™ companies, has excelled in fostering innovation and channeling it into spectacular growth -- against the backdrop of one of the most challenging economies in history," said
, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. "Deloitte recognizes Ambient for its remarkable accomplishment."
"We are pleased to honor Ambient as a 2011 Technology Fast 500 company," said
, managing partner, technology and venture capital services, Deloitte & Touche LLP. "As one of the fastest growing tech companies in
, Ambient has demonstrated excellence in technological innovation, entrepreneurship and rapid growth."
Overall, 2011 Technology Fast 500™ companies achieved revenue growth ranging from 134 percent to 70,211 percent from 2006 to 2010, with an average growth of 1,736 percent.
About Deloitte's 2011 Technology Fast 500™
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
. 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.