Eddyfi among Fastest Growing North American Tech Companies

From: Wednesday, November 16, 2016

Eddyfi on Deloitte’s 2016 Technology Fast 50™ and Technology Fast 500™ rankings for the second year in a row.

Eddyfi is proud to announce that it ranked 36th fastest growing company on Deloitte’s Technology Fast 50™. It also ranked on the North American Technology Fast 500™ ranking.

The Deloitte Technology Fast 50™ program celebrates leaders in the Canadian technology industry for demonstrating bold innovation, dedicated leadership, and strong growth. To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada, and invest a minimum of 5% of gross revenues in R&D.

Similarly, the Deloitte Technology Fast 500™ is an annual ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, and energy tech companies in North America. These rankings are based on the percentage fiscal year revenue growth between 2012 and 2015.

Since its foundation in 2009, Eddyfi has grown from a five-employee start-up to an over 200-employee company by expanding its application scope from the power generation industry to oil and gas, aerospace, and other markets. It has become a leader in its field by investing massively in innovation and new product development. The company invests 20% to 25% of its revenue in research and development, and more than 40% of its staff is dedicated to that effort. Over the years, Eddyfi has also developed and marketed a number of products, designed around eddy current technologies, namely the Sharck™ and DefHi® probes, as well as the Ectane®, Reddy®, and Lyft™ instruments.

“We are, again this year, thrilled by our position in these rankings. They are the concrete proof of our continued growth,” says Martin Thériault, President and CEO of Eddyfi. “We are a customer-centric, innovation-driven company with the goal to push back the limits of NDT technologies by developing new solutions offering the most value to our customers. This is essentially what led us to be part of the Fast 50 group.”

Read the Deloitte release about the Technology Fast 50™ awards here: www.fast50.ca.

About the Deloitte Technology Fast 50™

The Deloitte Technology Fast 50™ program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features three distinct categories including the Technology Fast 50 Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than four years, with the potential to be a future Deloitte Technology Fast 50 candidate) and the Leadership Awards (companies that demonstrate technological leadership and innovation within the industry.) Program sponsors include Deloitte, Aequitas NEO Exchange, Bank of Montreal, Bennett Jones, OMERS Ventures and Vistara Capital Partners. For further information, visit www.fast50.ca.

About Eddyfi Technologies

Eddyfi Technologies is a label designed to maximize the potential of multiple advanced and niche NDT inspection technology brands. With its two centers of excellence in Québec (Canada) and Swansea (UK), Eddyfi Technologies focuses on offering high-performance NDT solutions for the inspection of critical components and assets through two strong, complementary brands: Eddyfi and Silverwing. The company has more than 200 employees, six offices around the globe all staffed with NDT experts, and serves customers in more than 65 countries in such major industries as nuclear, power generation, oil & gas, and aerospace.