Success for fast-growing energy technology company

The solar cell company Midsummer AB holds first place on the Sweden Technology Fast 50 list, which ranks the country's fastest growing technology firms.

With a turnover of SEK 54 million and a growth in sales of 8 109 per cent over the period 2007 – 2011, Midsummer AB has reached first place on the Fast 50 chart.

Thin-film solar cells with an in-house developed production technique

Since starting operations in 2004, Midsummer has developed its own technique for the manufacture of thin-film solar cells that gives a substantially lower production cost than traditional silicon solar cells. The production technique comes originally from the CD and DVD sector, where the automation process helped to reduce the production costs considerably.

The Swedish Energy Agency has granted research funding in the order of some SEK 49 million over the period 2009 – 2011 for the development and demonstration of Midsummer's solar cell technology and business development operations. It is hoped that this cost-effective mass production of solar cells will be able to provide a major contribution to electricity generation globally and at the same time encourage the development of Swedish trade and industry, and generate substantial exports.

More fast-growing energy technology companies

More companies in the area of energy technology whose operations have received support from the Energy Agency have placed themselves on the Fast 50 list, including the company ClimateWell which has received support through the research programme FFI – Fordonstrategisk Forskning och Innovation (Vehicle-strategic Research and Innovation). Swedish Biogas International and ClimaCheck also figure on the list.

Occupying first place in the category Rising Stars is the company Reform Tech Sweden AB, to which the Energy Agency has allocated funding through FFI. Also represented on the list of Rising Stars is the company Bioendev AB, which has been granted research funding for an industrial development facility for torrefaction.

"It is the task of the Swedish Energy Agency to support research, innovation and commercialisation. It is therefore gratifying to see more companies that have received support from the Agency on the list of the fastest growing technological companies in Sweden," says Birgitta Palmberger, Head of Department at the Swedish Energy Agency.

Sweden Technology Fast 50

Sweden Technology Fast 50 is a ranking of Sweden's fastest growing technological companies. The ranking includes both public and private companies and covers all types of technology, from the Internet, computer equipment and media to biotechnology. Rising Stars is a special category for young companies with rapid growth and great potential. The ranking is conducted by the company Deloitte.