Eniram Recognized as Fastest Growing Company in Finland by Deloitte Fast 50

Eniram Limited, a provider of data analytics software for the shipping and marine industry, has been named the fastest growing company in Finland in the Deloitte Fast 50, recognising the company’s meteoric expansion over the last 5 years.

This is a prestigious accolade for Helsinki-based Eniram and underlines the enormous value the company offers to a global market currently subject to immense cost and environmental pressures. Eniram’s solutions go right to the heart of these issues, specifically reducing fuel consumption, using techniques for example, such as dynamic trim optimisation. The software monitors sea conditions and vessel performance in real time, allowing operators of large cruise ships and container vessels to hone the way their fleets move through the water.

The impact on fuel consumption and related operating costs can be as much as 5%. Across over 100 vessels that use Eniram’s software today, total financial savings (on fuel) have tipped 32.7 million Euros a year (£28 million or $45 million). That’s equivalent to the annual CO2 output of around 20,000 people – the population of a small town. On average the saving per vessel is 219,000 Euros a year (£188,000 or $300,000 a year) – or 1,500 tonnes of CO2, the equivalent of the annual carbon footprint of 140 people.

Eniram’s technology strikes such a chord with operators in the current climate that its annual revenues have grown by 6209% over the last five years. The company was founded in 2005. In 2010, it recorded a 300% increase in revenues over 2009, turning over 3.3 million Euros (£2.8M or $4.5M) and in 2011 it expects to achieve a 200% revenue growth.

The Deloitte Finland Fast 50 is part of the Deloitte Technology Fast 500 EMEA programme, the region’s most objective industry award programme, which recognises technology companies that have achieved the fastest rates of revenue growth in Europe, the Middle East and Africa over a five-year period. The Deloitte Technology Fast 50 initiatives rank high-growth technology companies by location or specifically defined geographic area.

Naming Eniram as the fastest growing technology company in Finland at the awards ceremony in Helsinki on Monday night, JP Suortti, Director, Technology, Media and Telecommunications at Deloitte, said, “This year’s Deloitte Fast 50 companies have successfully fought against the economic turbulence. We are delighted to see a green-tech company as the winner of this year’s competition. We hope to see more fast growers emerge from this exciting sector. We congratulate Eniram for their success and wish them well in their quest to combine innovative software and application development with maritime industry and its deep rooted heritage.”

Commenting on the announcement, Philip Padfield, Eniram’s CEO, said, “There are two real reasons for the tremendous growth we’ve seen over the last few years. The first is the quality of our people; the second is our customers. We’re incredibly lucky that we have a pool of talented technologists and also talented marine expertise here. We bring the two together to address the significant pressures on the industry to reduce fuel-related costs and also CO2, SOx and NOx emissions. This makes operators more efficient, competitive and compliant with environmental legislation. We can help companies with transparency issues too, by providing them with intelligent analysis of the data that we collect from their vessels. This helps them make intelligent and informed decisions about how to operate their fleets, adding to the potential improvements and savings.”

In 2010, the company expanded its London and US offices, and recruited additional staff to keep pace with customer demand. Its exciting growth plans include widening its geographical presence, and expanding sales to 10 million Euros over the next 18 months.

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Source: Eniram Limited, November 9, 2011