Energy GreenWire: UK smart home systems firm recognised as one of Europe’s most innovative start-ups
11th May 2010
PassivSystems, about to launch its unique home energy management product PassivEnergy, has been recognised as one of Europe’s leading privately-owned companies in the prestigious Red Herring 100 Europe 2010.
Now in its 10th year, Red Herring spotlights the top 100 privately-owned technology start-ups from all over Europe, the Middle East and Africa (EMEA).
PassivSystems was selected from hundreds of applicants because of the innovation of its technology and vision for bringing smart home systems to a mass consumer market. The company’s first product PassivEnergy, is a unique energy management product that works by talking to sensors and controls installed around the home. It learns how people live their lives and when they need to use energy and when they need to save it, and is set to revolutionise the way people manage and use energy in the home.
An experienced group of Red Herring judges reviewed each start-up nomination, evaluating nominees on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy and integration into their ecosystem.
"We have always felt that PassivEnergy was a ground breaking product so it is rewarding to see our vision endorsed in this way by Red Herring," said Colin Calder, ceo, PassivSystems. "It’s a prestigious award with the list of previous winners reading like a who’s who of technology success stories, so to keep that kind of company fills us with confidence as we prepare for the launch of PassivEnergy."
The winners of Red Herring 100 Europe 2010 will be celebrated at the Red Herring 100 event in Paris, May 25-27. All finalists will be required to present and showcase at the Red Herring Europe forum before an exclusive audience of C-level entrepreneurs, corporate strategists, and more than 50 venture capital funds in addition to being featured in a special edition of Red Herring magazine.
The Red Herring editorial team will analyse the cutting edge companies and technologies and select those who are particularly positioned to grow at an explosive rate.