Rocket Builders Names Top Companies to “Ready to Rocket” Clean Technology List
BC’s Cleantech sector positioned for high growth and investment
VANCOUVER, BC – February 22, 2011
Rocket Builders today released its first-ever “Ready to Rocket” list of B.C. clean technology companies. The fifteen privately-held companies are positioned to capitalize on clean technology and industry trends that will lead them to rapid growth and investment.
The “Ready to Rocket” Cleantech list is the only predictive list of its kind in North America.
British Columbia’s cleantech sector is emerging as one of the strongest contingents for recovery from the market downturn of 2008. “When the market crashed many analysts predicted that cleantech would also fall by the wayside. That’s simply not the case,” said Geoffrey Hansen, Managing Partner at Rocket Builders. “In fact, cleantech [along with life sciences] have been driving the market’s return and some of the biggest venture capital deals in Canada have been within the cleantech sector.”
For example, Chrysalix, a BC-based energy venture capital firm, was recently named the most active cleantech venture capital firm by the Cleantech Group. According to Mike Walkinshaw, Managing Director and CFO of Chrysalix, "There is a substantial amount of interest and venture capital dollars available for locally-based cleantech companies. I believe Vancouver is one of the top three cleantech hubs in North America based on management teams, technology and available finance." Chrysalix manages over $300 million in assets.
Cleantech investment accounted for approximately 40% of all Canadian venture capital investment last year. In the Vancouver area alone, there are more than 1,400 cleantech companies, and as well, British Columbia has one of the lowest corporate income tax rates in the world making it a desirable location for technology companies to establish and innovate. B.C. has a track record of consistently launching technology companies that are attractive to investors.
According to Dave Thomas, Senior Partner at Rocket Builders, “B.C.’s innovation in the area of cleantech has a number of ‘positives’ surrounding the fact that we have a large pool of engineering talent that is drawn to a substantial number of well-established anchor companies within the cleantech sector such as Ballard, Westport Innovations, MDA, as well as Creo and the like. Also, businesses here in Western Canada are very concerned about sustainability, so there is a definite market trend and mindset toward cleantech.”
Concurrent with the 2011 ”Ready to Rocket Cleantech” list, Rocket Builders also released a list of “Emerging Rockets” of ten additional B.C. cleantech companies that hold potential for market breakthroughs in the coming year.