Clean Marine's exhaust cleaning system has made it the fastest growing tech company in Norway. Photo: Clean Marine
Fifty of the 500 fastest-growing tech companies in Europe, the Middle East and Africa are based in Norway, according to a ranking by analysts at global consulting firm Deloitte.
Norwegian cleantech company Clean Marine, whose hybrid exhaust gas cleaning system is helping to cut maritime emissions, was named the eighth fastest-growing tech company in the newly-released 2015 Technology Fast 500 report
The Lysaker-based company has grown by a whopping 7,260 percent according to the report, making it the highest-ranking Norwegian firm on the list.
Olso company Etrinell, which specializes in investments and developments within the IT sector, was two spots behind at number ten with 6,033 percent growth.
As a whole, Norway had a full 50 companies on the list, making it the third best represented country behind France and the United Kingdom and two spots ahead of Nordic neighbour Sweden
The list was topped by Catawiki, a growing online auction house based in the Netherlands, which saw its turnover increasing by 45,000 percent.
“Achieving a position in the EMEA Fast 500 is always an impressive feat but the rates of growth for this year are particularly inspiring," said David Cobb, partner-in-charge of the Deloitte Technology Fast 500TM EMEA programme in a press statement.
"These results highlight the strength and determination of the Technology sector across this region with a clear indication of some of our business leaders of the future."
Norwegian software companies Camo Software and Front Systems also reached the top 50 on the list, while a total of 12 companies cracked the top 100.
France dominated the rankings with the most entries, for the sixth year in a row, while Israel celebrated having two entries in the top five. Four entries in the top 10 came from the UK.