Software Motor Company Selected As 2019 Red Herring Top 100 North America Winner
PASADENA, Calif., May 17, 2019 /PRNewswire/ -- Red Herring today announced the winners of its Top 100 North America 2019 event, recognizing the continent's most exciting and innovative private technology companies.
The winners, celebrated at a special awards ceremony at the Westin Pasadena hotel, have been chosen from thousands of entrants. The ceremony, led by Red Herring chairman Alex Vieux, was preceded by two days of keynote speeches, discussions and finalist presentations.
Companies were judged by industry experts, insiders and journalists on a wide variety of criteria including financial performance, innovation, business strategy, and market penetration. Winners ran the gamut of verticals, from FinTech and Marketing to Security, IoT, and many more industries.
Software Motor Company was one of just 13 clean tech companies selected. SMC makes the world's most reliable, efficient, and intelligent motor system. Since HVAC uses 45% of the world's electricity, SMC has decided to focus its technology on this space first.
Unlike most clean tech products, SMC's Smart Motor System is less expensive to own and operate than its conventional alternative. When this revolutionary motor is combined with IoT building automation technology, the SMC Smart Motor System optimizes efficiency, advances sustainability goals, and saves money.
Now piloting with dozens of major retailers and restaurants, SMC's motors are driving average energy savings of 55% from their HVAC.
Red Herring's editors have been evaluating the world's startups and tech companies for over two decades. It gives them the ability to see through the industry's hype to pick firms that will continue on a trajectory to success. Brands such as Alibaba, Google, Kakao, Skype, Spotify, Twitter and YouTube have all been singled out in Red Herring's storied history.
"2019's crop of Top 100 winners has been among our most intriguing yet," said Vieux. "North America has led the way in tech for so many years, and to see such unique, pioneering entrepreneurs and companies here in California, which is in many ways the heartland of the industry, has been a thrilling experience.
"What has excited me most is to see so many people forging niches in high-tech and cutting edge sectors," added Vieux. "Some of the technical wizardry and first-rate business models showcased here at the conference has been fantastic to learn about. We believe Software Motor Company embodies the drive, skill and passion on which tech thrives. Software Motor Company should be proud of its achievement - the competition was incredibly strong."
SOURCE Software Motor Company
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