Exponential gains in revenues over the past four years helped two Stamford firms place first in their categories as part of the 40 fastest growing technology companies in Connecticut.
The Connecticut Technology Council and the accounting and consulting firm UHY LLP last week presented Clean Diesel Technologies Inc. and MTM Technologies Inc. with Tech Top 40 Awards at the Chevrolet Theater in Wallingford.
They were among scores of other high-tech public and private companies from around the state that the council and UHY feted.
"The companies have attained these remarkable number in terms of year-over-year growth, and we are bringing that to the attention of the state," said Alex Discepolo, a UHY partner and manager with its New Englandtax practice.
Clean Diesel Technologies is a specialty chemical company that supplies fuel additives and systems that reduce particulates and nitrogen oxides in diesel engines. The publicly traded company had revenues of $5.2 million in the first half of this year, compared with $4.9 million all of last year and $900,000 in 2005.
"It is very rewarding to be recognized as one of the fastest-growing companies in this industry," said John Lash, senior director of strategic development for Clean Diesel Technologies. "There is a lot of focus on climate change, and clean air is a very important piece of that."
Lash said his company has a growing revenue base because the federal government will require diesel-powered trucks made
in 2010 to emit 98 percent fewer pollutants than a truck built in 1998. Clean Diesel also was a category winner for Energy/Environmental Technologies among the Tech Top 40."Besides their growth, they really have an interest in the environment," Matthew Nemerson, president of the East Hartford-based Connecticut Technology Council, said of Clean Diesel. "They have a very good group of employees who are dedicated to the company and to the environmental cause."
The council is a statewide association of technology-oriented companies and institutions that provide leadership in areas of policy advocacy, community building and assistance for growing companies.
Publicly traded MTM Technologies reached the top of the council's Information Technology category. The company sells, installs and services microcomputers, microcomputer software products, supplies and accessories.
Nemerson said MTM customers include Microsoft and Cisco Systems.
"They have been able to impress larger companies that often times are apprehensive about having smaller companies become service providers," Nemerson said.
To earn its accolades, MTM Technologies had revenues of $52.2 million in its 2004 fiscal year and $242.6 million in the 2008 fiscal year that ended in March.
"MTM and its employees are appreciative of this award and the efforts of the Connecticut Technology Council to connect people, ideas and opportunities to the global technology and innovation community," said Steve Stringer, president and chief executive officer of MTM Technologies.
Fairfield County companies that made the Top 40 include:
TNS Group, Protegrity Corp. and L-1 Identity Solutions Inc. in Stamford; Bolt Technology Corp., Adeptra, Priceline.com, Terra Technology, IMS Health and Webloyalty in Norwalk. Other honorees included Presstek Inc. of Greenwich, Darien-based Jupitermedia Corp. and Triple Point Technology Inc. of Westport.
- Staff Writer Peter Healy can be reached at peter.healy@scni.com or 964-2276.