Swedish LED grow light maker Heliospectra AB reported that Deloitte’s prestigious Sweden Technology Fast 50 has named it the second-fastest growing technology company in Sweden. Heliospectra boasts that its LED-based grow lights can reduce electricity costs for using grow lights by up to 50 percent compared to conventional grow light technology. The company also claims that its LED grow light systems can intelligently adapt to the needs of plants. Additionally, Helispecta says that it has optimized its grow lights to grow crops that look better, taste better, and last longer.
“We are proud to be honored as the second-fastest growing company by Deloitte Sweden Technology Fast 50. This award is a well-deserved recognition for my team at Heliospectra and all their hard work and dedication to quality and innovation,” says Ali Ahmadian, CEO of Heliospectra. “As LED lighting is rapidly gaining momentum in the horticulture industry, our world-class team and cutting-edge technology are being recognized by customers and partners around the globe.”
Heliospectra Grew 643 Percent Over Last Four Years
Deloitte’s Sweden Technology Fast 50 ranking covers public and private companies, both large and small, in all sectors of technology. The award looks at a company’s revenue growth over the last four years, and Heliospectra came in second with revenue growth of 643 percent over the four-year period. The ranking announcement came shortly after the company posted strong interim revenues.
“Our success reflects strong execution in many business areas, from creating customer-centric, value-based processes to offering the industry’s most advanced product portfolio. With the launch of our new HelioCORE control system in the beginning of 2018, we will take a big step forward in automating lighting within production environments. Growers will be able to standardize production cycles and forecast returns by using sensors and dynamic light controls,” continued Ahmadian. “We are confident that we will continue our strong growth and make our sustainable food production solutions available to growers all around the globe.”
Deloitte conducts the ranking in 20 countries and regions in Europe, Asia, and Australia, and Deloitte coordinates regional Fast 50 -programs in the United States. Notably, Deloitte nominates all Swedish-based Technology Fast 50 companies to its Fast 500 competition in Europe, the Middle East, and Africa (EMEA).
In the past two years, the Swedish technology sector has boomed. So, the 2017 award for Sweden’s Technology Fast 50 was particularly competitive due to overall strong growth in the sector. Deloitte partner Erik Olin commented, “The climate on the stock market has been extremely good the last couple of years, especially for Swedish tech companies. This year’s ranking has more public companies than ever before. Also outside of the stock market, a record amount of money from venture capital was invested in Swedish technology companies.”