ENVO Drive Systems Earns Coveted Spot Deloitte’s Technology Fast 500™ Ranking of Fastest-Growing Companies
Attributes 718% revenue growth to making wide variety of high-quality, innovative e-micro mobility products and outstanding service
Vancouver, Canada (November 30, 2023) — On the heels of its recent Deloitte Fast 50 Clean Technology award, ENVO Drive Systems today announced it ranked 195th on the Deloitte Technology Fast 500™, a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 29th year. ENVO Drive Systems grew an impressive 718% during this period.
Designers and manufacturers of traditional e-bikes as well as unique, purpose-built e-vehicles for snow, water and 4-wheeling, ENVO Drive Systems remains consistently on the cutting edge of micro-electric-mobility. Their wide range of vehicles for all manner of uses across all seasons – around the home or workplace, on urban roads and paths, or deep in the great outdoors – is testament to the breadth of their commitment to green mobility solutions.
Their recently announced first award from Deloitte for 2023, the Fast 50 Clean Technology Award, recognizes Canada’s top clean innovators providing processes, goods, or services that reduce environmental impacts. Deloitte launched this new award-leadership category to go along with the long renowned Fast 500 award.
“Winning one Deloitte Fast Program award was already thrilling enough,” says Founder and CEO Ali Kazemkhani. but adding another one is the icing on the cake of what’s been an outstanding year for ENVO. “This achievement, along with the Fast 50 award, confirms one of our key tenets: address real-world needs in the e-mobility market with products that consumers truly want at prices they can handle. The world needs – and clearly wants – quiet, emission-free recreational opportunities for all sorts of purposes and pursuits, and we’re incredibly proud to consistently offer exactly that.”
“Each year we look forward to reviewing the progress and innovations of our Technology Fast 500 winners. This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark. Congratulations to all the winners who show us how creativity, hard work and perseverance can lead to success.”
“As for growing companies, it’s always rewarding to be recognized for the ongoing commitment it takes to navigate obstacles, transform when necessary and ultimately create a thriving business,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Over the nearly 30 years we’ve been compiling the Technology Fast 500, we’ve seen new categories emerge, growth rates explode, and certain regional markets shine from the bright talent they attract. We are proud of all the winners for achieving this well-deserved honor.”
Overall, the 2023 Technology Fast 500 companies achieved revenue growth ranging from 201% to 222,189% over the three-year time frame from 2019 to 2022, with an average growth rate of 1,934% and a median growth rate of 497%.
About the 2023 Deloitte Technology Fast 500: Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About ENVO Drive Systems: ENVO Drive Systems, is a Canadian pioneering engineering and manufacturer of micro-electric-mobility products. ENVO's mission is to fill in the gaps of e-mobility by offering innovative, modular and versatile products. Heavily investing in R&D, ENVO is committed to affordable quality to be the preferred e-mobility choice for the sustainable future of our planet.
About Deloitte: Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 457,000 people worldwide connect for impact at www.deloitte.com.
