Hydro Industries the Fastest Growing Firm
Published on by Water Network Research, Official research team of The Water Network in Business
Hydro Industries Tops This Year Wales Fast Growth 50 Project Having Achieved a 762.2% Revenue Grow Rate Over the Last Two Years
One of Wales' most innovative firms Hydro Industries, which is pioneering technologies in water purification to the benefit of communities in some of the world's most deprived regions, has been crowned the fastest-growing indigenous firm in Wales.
The Llangennech-based business, which was established in 2010, tops this year's Wales Fast Growth 50 project having achieved an impressive turnover growth rate of 762.2% over the last two years (based on audited accounts for 2011-13). Over the period the business has seen its turnover rise rapidly from £258,000 to £2.22m and is well placed for continued accelerate growth in the years ahead.
The business, which is already in profit, specialises in electro-based water treatment and now works with clients around the world including Shell, Tata and Morganite.
It recently announced apartnershipworth more than £1m to support water treatment plant developments in the United Arab Emirates.
Hydro is predicting significant growth in 2015 in a year which will see its technology, as part of a collaboration withIntelligent Energy, providing access to clean drinking water for hundreds of thousands of people in India.
Chief executive of Hydro Industries Wayne Preece said it was a huge honour to be named the fastest-growing firm in Wales.
He said: "This award will help get cash for the business, boost our global credibility and support growth in the domestic market, where we are talking to Welsh Water and Scottish Water.
"Winning this award is a huge honour and we are truly blown away to have won it. I must thank the Welsh Government and Carmarthenshire County Council for their great support over the years, but I must also thank the wonderful team at Hydro."
Founder and director of the Wales Fast Growth 50, Professor Dylan-Jones paid tribute to Hydro Industries for becoming the fastest-growing firm in Wales for 2014.
Prof Jones-Evans said: "Hydro Industries is a home-grown business that exports globally.
"It is championing innovative thinking with a humanitarian purpose - which is helping to transform communities around the world through its unique water-based technology.
"Like many Fast Growth 50 businesses its greatest resource is its team, which has developed a vast array of knowledge and skills. This has been the key driver to growing the business to its current level."
Speaking at the Wales Fast Growth 50 annual dinner this evening at the Mercure Holland House Hotel in Cardiff, Business Minister Edwina Hart paid tribute to all 50 companies for making an invaluable contribution to the Welsh economy.
She said: "While we have seen some success recently I am aware that more needs to be done. However, I am encouraged by the talented, enthusiastic and hard working entrepreneurs we have in Wales demonstrated clearly by the Fast Growth 50.
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