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The Switch Wins Global Cleantech Cluster Association 2012 Wind Energy Later Stage Award

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The Switch, a leading supplier of megawatt-class permanent magnet generator and full-power converter packages for wind power and other renewable energy applications, is proud to announce that it has been chosen by the Global Cleantech Cluster Association (GCCA) as the 2012 Later Stage Award Global Best of Wind winner.

The 2012 Global Top 10 award reflects The Switch’s cleantech success and market position as a key component supplier to the wind power company in the $163.1 billion global cleantech industry. It also indicates The Switch’s unique innovations are making a positive contribution to the green economy. The Switch, along with the other 2012 Global Top 10 winners, was honored at ceremony at the Savannah International Clean Energy Conference. The 2012 Later Stage Award is sponsored by Deloitte and McGuire Woods.

“Cleantech and sustainability are no longer a niche. They are out performing most market sectors in growth even during the recession,” said Ben Taube, Chairman of the GCCA. “These 2012 Top 10 winners are indicative of the growing strength of their sectors.”

The Switch was nominated for the GCCA Later Stage Award by the Finnish member of the Executive Committee of Development, Lahti Science and Business Park, in May 2012 for its contribution to making wind power a viable source of renewable energy throughout the world. The Global Top 10 were selected out of the 4,000 companies represented by the GCCA’s 45 member clusters. In total, 200 companies were nominated by clusters as leading in their regions. That number was later narrowed to the Global Top 30 Semi-Finalists using the Keystone Method™, a business and venture development tool developed by GCCA Head Judge Dr. Peter Adriaens and CleanTech Acceleration Partners at the University of Michigan. The Global Top 10 were then selected by the Later Stage Award judging panel of 30 cleantech VCs and entrepreneurs who collectively manage over $3.5 billion in cleantech investment.

The Switch was one of the first wind power companies that pioneered permanent magnet generator (PMG) and full-power converter (FPC) solutions, making them commercially available. The Switch Drive™ is a fully optimized generator and converter package available in the widest range of packages to maximize wind power generation. As a core power-generating components partner, The Switch adds value by collaborating and networking with its customers to lower the cost of new energy for the market.

“The Switch is honored to be the winner in the Best of Wind category,” says Dag Sandås, CFO of The Switch. “Our forward-thinking strategy of working in a flexible and asset-light partnership model has proven to make a difference in setting new standards in the wind power industry. This way of networking has been key in helping us grow during times of economic uncertainty. In addition, our flexible business model allows us to proactively seek M&A opportunities in global clean energy.

A full list of all the GCCA Later Stage Award 2012 Global Top 10 Finalists can be found at: www.globalcleantech.org/2012-winners/

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