Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the world's largest solar companies, today announced it has been ranked on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, remarked: "This is an honor for me personally and for our entire company to be recognized among the fastest growing companies in North America. We take great pride in this achievement. We have worked tirelessly to deliver compelling alternative energy solutions to customers across the world since founding Canadian Solar in Ontario in 2001. We are now a globally recognized leader with an impressive track record of consistently delivering high performance, highly reliable solar products backed by one of the industry's strongest insurance guarantees. I would like to thank all of Canadian Solar's employees worldwide, and what we believe to be our unparalleled network of installation and project partners, and supportive financial institutions."
The 2012 Technology Fast 500™ winners are true leaders who leverage their entrepreneurship and technological innovation to achieve strong growth, said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Their commitment and leadership continue to transform the technology sector."
Overall, 2012 Technology Fast 500™ companies achieved revenue growth ranging from 128 percent to 279,684 percent from 2007 to 2011, with an average growth of 2,774 percent.
About Deloitte's 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche 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 2007 to 2011.
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.