The prestigious awards honour the year’s most promising private technology ventures from the Asian business region. The company was selected from around 200 finalists in a range of technology sectors.
Over the last 6 years Aquaflow has developed a commercial offering that enables it to take multi-biomass feed stocks (for example trees, algae and agricultural waste) and process it into renewable hydrocarbon fuels – petrol or diesel and jet fuel – most importantly on a basis that is economic today.Based in Nelson, New Zealand, Aquaflow was formed in October 2005. Aquaflow is a leading pioneer in biomass to fuels and algal technologies without genetic modification. Aquaflow's technology produces biofuels from multiple feedstocks, and water remediation can be a highly valuable side benefit
Aquaflow announced in April that it had successfully entered a technology co-operation agreement with CRI Catalyst Company (CRI), and since that time has started planning to establish its first series of commercial scale refineries in a number of geographies.
“This award is very exciting for us and a great endorsement for our renewable hydrocarbons technology. We went through a tough assessment process and the judges were looking for companies who are about to make a global impact. This award will open some important doors for us. The Red Herring community is very influential and knowledgeable,” comments Aquaflow director Nick Gerritsen.
“This achievement is further evidence, therefore, that Aquaflow is at the leading edge of drop-in renewable fuels and we have a technology offering with global potential.”
The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across Asia. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.
“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “Aquaflow should be proud of its accomplishment, as the competition was the strongest it has ever been.”
This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the “buzz” and make the list a valuable instrument for discovering and advocating the greatest business opportunities in the industry.
Red Herring 100 Asia award winners are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, mobile and other industries completed their submissions to qualify for the award.
Note of conflict: Aquaflow shares a director, and a number of shareholders with Celsias