After winning the European Award, Innotech Solar is now finalist for the Red Herring 2013 Top 100 Global Award

Red Herring's 2013 Top 100 Global Award, a prestigious list honoring the most promising private technology companies of the world each year.

Narvik, Norway, 14 November 2013 – Today, Scandinavian-German PV manufacturer Innotech Solar (ITS) announced that it has been selected as a finalist for Red Herring's 2013 Top 100 Global Award, a prestigious list honoring the most promising private technology companies of the world each year. The candidates for the Award are the top companies from the Red Herring competitions in Europe, North America and Asia. ITS won the European competition earlier this year.

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The Red Herring editorial team selected the most innovative companies from over 1,000 candidates from across the globe. The nominees are evaluated based on 20 key quantitative and qualitative criteria, such as disruptive impact, market footprint, proof of concept, financial performance, technology innovation, social value, quality of management, execution of strategy and integration into their respective industries. This unique assessment of potential is complemented by a review of the track record and standing of the company, allowing Red Herring to turn the list into an invaluable tool for discovering and advocating the industry's greatest business opportunities.

"Having been nominated as a finalist not only for the European but for the Global Award of Red Herring is another very positive endorsement and seal of quality for our company as this is the most prestigious Award for technology companies," says Hvard Lillebo, founder and member of the Executive Board at Innotech Solar. In a period when many PV companies are struggling to survive, we see the nomination as a proof that we are recognized as being positively differentiated and headed in the right direction." Innotech Solar was selected as winner in the 2013 edition of the Red Herring 100 Europe Award due to their technological innovation, management strength, market size, investor record, customer acquisition and financial health. Innotech Solar was the only solar company on the list.

"Technology companies are becoming the bright spot in the economic outlook based on their increasing role within macro-economic environments," stated Alex Vieux, Chairman of Red Herring. "2013 has demonstrated the sector's vibrant activity and its contribution to the global economic recovery. An unprecedented number of entrepreneurs are jumping ahead of the competition and making a difference. Breakthroughs obsolete each other faster than ever before. Innotech Solar is performing exceptionally in the clean tech field and strongly deserves to be singled out as one of the Red Herring Global Finalists. At this stage, we are left with the daunting task to select the best qualified companies for the 2013 Top 100 Global Award."

About Innotech Solar

The Scandinavian-German company manufactures solar modules in Europe and sells them worldwide. Innotech Solar specializes in the production of particularly environmentally friendly modules with optimized solar cells and uses innovative processes developed by in-house research teams to do so.

Innotech Solar optimizes solar cells in Halle an der Saale, Germany, and manufactures its modules in a former REC solar factory in Glava, Sweden, which thanks to its fully automated production lines is one of Europe's most modern manufacturing plants. The production process is powered at both sites using 100 percent renewable energy.

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