Carmanah Named to Canada’s Cleantech Top 10

VICTORIA, British Columbia--(BUSINESS WIRE)--For the fourth consecutive year, Canadian solar pioneer Carmanah Technologies Corporation has been named to Corporate Knights Magazine’s Cleantech 10™, a list of Canada’s preeminent publicly-traded cleantech companies compiled by Corporate Knights Inc. and Cleantech Group LLC, the leading producer of cleantech indices and information globally.
   
According to this week’s announcement, Rafael Coven, Managing Director and Index Manager of the Cleantech Index and creator of the Cleantech 10, sought out technology-driven growth companies that have big impacts on resource efficiency and the environment for this year’s list, not simply those re-branding themselves as “green”. A heavy emphasis was place on purity (percentage of revenues or income from cleantech business, and whether or not it’s really “clean”) and quality (strategy, management, financial strength, sector leadership). Other key criteria included growth, earnings, liquidity, capitalization, technology/intellectual property, and overall impact. Since the Cleantech 10’s inception in 2007, it has outperformed the S&P/TSX Composite by 23 percent (using an unweighted average of the past three Cleantech 10’s returns as of October 25, 2010, excluding dividends).

Of this year’s Cleantech 10 winners, Corporate Knights Magazine’s Editor-in-Chief, Toby A. A. Heaps said, “With nine billion people on the horizon on a planet of finite resource, the space race for which country can make the most productive use of resources is on, and these companies are Canada’s great green hope.” Corporate Knights is a Canadian-based media company focused on promoting and reinforcing sustainable development in Canada.

For more information, visit www.carmanah.com, or telephone 1.877.722.8877 (toll free in US and Canada). File images are available on Flickr: http://www.flickr.com/photos/carmanahsolar/.