SprayCool, Inc. Named One of the Pacific Northwest's Fastest Growing
Technology Companies in Deloitte's Technology Fast 50 Program
Attributes Product Innovation to its 618 Percent Revenue Growth
LIBERTY LAKE, Wash. - September, 29, 2006 - SprayCool, Inc. has been named to Deloitte's prestigious Technology Fast 50 Program for the Pacific Northwest, a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in the Washington, Oregon and Idaho by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth during the five years from 2001-2005.
Jeff Severs, president and chief executive officer for SprayCool, credits the company's innovative SprayCool technology and market demand with the company's 618 percent revenue growth from 2001-2005.
"Our SprayCool technology is an extremely unique product that solves the very real problems of heat, noise, space and reliability that will continue to increase in the electronics market.," he said. "I applaud our entire team for helping make SprayCool a Fast 50 company, and we are honored to receive this esteemed award for the third year in a row."
SprayCool's increase in revenues of 618 percent from 2001 to 2005 resulted in a ninth ranking in the Technology Fast 50 for the Pacific Northwest. The average increase in revenues among companies who made the Technology Fast 50 for this region was 607 percent.
"Deloitte's Pacific Northwest Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today's very competitive technology environment," said Larry Hile, a partner in Deloitte's Technology, Media & Telecommunications (TMT) industry practice based in Seattle. "We applaud the successes of SprayCool and acknowledge it as one of the very few to accomplish such a fast growth rate through the past five years."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2001 and $5,000,000 in 2005, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Winners of the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
About SprayCool, Inc.
SprayCool, Inc. uses its innovative technology, SprayCoolT, to revolutionize how electronics are packaged, powered and cooled. It is the leading technology that is enabling the development and delivery of electronic system solutions for problems with heat, noise, space and reliability. SprayCool, Inc. is a privately held corporation headquartered near Spokane, WA.
About SprayCoolT System Solutions
SprayCool System Solutions use a fine mist of liquid, sprayed in a thin layer, which evaporates, to cool electronics. The process continuously cycles within a closed loop system. Companies are using SprayCool System Solutions to enable the next generation of electronics.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Media Contacts:
Bob Silver
MWW Group for SprayCool
206-689-8505
bsilver@mww.com
