Spin-out named Germany’s fastest growing mid-sized company

Novaled AG, a spin-off from the Institute for Applied Photophysics at the Technical University of Dresden and the Fraunhofer Institute for Photonic Microsystems, leads a list of the fastest-growing German mid-sized companies.

The company, which specialises in organic light-emitting diodes (OLEDs), has an average revenue growth of 400 per cent in the last five years, bringing it top in the survey carried out by two financial newspapers, Handelsblatt and Wirtschaftswoche.

The publications reported on future world champions among small and mid-sized German companies, using a ranking based on a multi-year research programme on the emergence and lasting success of German mid-sized companies that are worldwide market leaders.

Over 1,300 Micro World Champions are registered in the database. The top 100 mid-sized firms must have a minimum yearly growth of 10 per cent, a yearly turn over of less than €50 million, and the company must belong to the world-wide top three in its industry or business activity field. Novaled came out first place, with the highest revenue growth.

“Novaled is proud to see this ranking which is rewarding its outstanding performance: growing in four years from a three person company into a world leader offering energy saving to the lighting and display industries,” says Harry Böhme, CFO of Novaled.

“As a cleantech provider we are confident of playing an important role in the coming years in bringing a new generation of power efficient lighting and display products to the market. Novaled is addressing multi-billion Euro businesses and will demonstrate continued strong growth in the coming years.”