London, UK, 19th November, 2010 – GreenRoad, the world’s leader in driver safety and efficiency, today announced it won two of the six categories in the GP Bullhound Cleantech Connect 2010 Awards. At an award ceremony in London, GreenRoad was acknowledged for its business, operational and customer success with wins in the Best Execution and Best Management categories. GreenRoad was also named as the second fastest growing company out of the top 25 companies.
The judges were very impressed with GreenRoad as “it is truly delivering against its ambitious business plan” and “it is a company that has truly grown into its reputation”. The judges were also impressed by the management and its ability to deliver strong revenue growth as GreenRoad’s service is adopted by an industry that is historically slow to adopt new ideas and technologies.
This year’s accolades add to those from 2009 when GreenRoad was named by GP Bullhound as one of the top 30 fastest-growing cleantech businesses in Europe and received an award for Vision and Future Growth Potential, recognising the company’s innovative technology and strong market position.
Driving behaviour contributes up to 33% of fuel consumption. GreenRoad provides an easy, low-investment way to tackle fuel use, vehicle emissions, meet CSR targets and reduce landfill. By empowering and engaging drivers, the GreenRoad 360™ service ensures lasting, positive environmental change:
- GreenRoad helps fleets reduce fuel consumption and emissions by up to 10%
- GreenRoad keeps vehicles and out of landfills by cutting risky driving behaviour by 50%
- A 1,000-vehicle fleet would have to purchase 225 new hybrid vehicles to get the same CO2 reduction as installing GreenRoad 360 in all its non-hybrid vehicles.
GreenRoad 360 is designed to stem the cause of crashes by enhancing driver decision-making while behind the wheel. Through safer driving, GreenRoad’s service improves performance across fuel consumption, operational efficiency, vehicle wear-and-tear and insurance costs. A typical GreenRoad customer sees a 50% reduction in accident frequency and resulting costs.
GreenRoad’s approach begins by earning the trust of the driver by providing accurate real-time feedback on unsafe and inefficient driving manoeuvres. The real-time feedback encourages performance changes in the moment, not days later after reviewing reports or video. This empowers drivers to self-correct, reduces management overhead and is a key element in preventing crashes and improving fuel efficiency.
GreenRoad 360 helps maintain permanent performance improvements by engaging the driver at every step. Web analytics and GreenRoad Engage™ coaching programmes give the driver a deeper understanding of risk and the resources to mitigate it. In addition, incentive programmes are used to inspire drivers and enhance morale and company performance.
The full winners of the Cleantech Connect 2010 Awards are:
∙ Fastest Growing Company: Ashwoods Automotive
∙ Fastest Growing Larger Company: Cambridge Broadband Networks
∙ Uniqueness of Offering: PowerSense
∙ Vision & Future Growth Potential: Helveta
∙ Best Management; GreenRoad
∙ Best Execution: GreenRoad
About GP Bullhound
With offices in London and San Francisco, GP Bullhound is a leading investment banking firm providing advice on mergers & acquisitions and institutional capital-raising to emerging growth companies in the Technology sector. The firm was established in 1999, and has completed over 100 M&A and Private Placement transactions on behalf of Europe’s leading entrepreneurs and business builders. Comprised of some of the most experienced technology advisory professionals, our long track record and dedicated approach has helped us establish a leading global position. We have strong domain expertise in the areas of Internet and Digital Media, Software and Services, Cleantech and Hardware, where we focus on providing pre-eminent advisory services to some of the best entrepreneurs, management teams and investors around the globe.
About Cleantech Connect 2010 Awards
Cleantech Connect brings together Europes’ leaders in the clean and green technology space. Recognising growth and innovation in the sector, GP Bullhound is a keen supporter of this growing area. Cleantech Connect 2010 Awards are sponsored by: Schroders Private Banking, law firm Choate, RUSTON wheb, NESTA, and the charity for the night, SolarAid.
GreenRoad delivers the future of driving: smarter, safer and more fuel-efficient. It offers the industry’s most sophisticated, customisable technology solutions and services to maximise driving safety and efficiency, generating immediate cost savings. GreenRoad 360 provides real-time feedback integrated with comprehensive online visibility. We engage drivers on an ongoing basis to deliver lasting improvement to driver and fleet performance.
The company is headquartered in Redwood City, California, with offices throughout the US and UK, and Israel. Investors include Benchmark Capital, Virgin Green Fund, Amadeus, Balderton Capital, DAG Ventures and Generation Investment Management LLP. For more information, www.greenroad.com and follow us on Twitter at www.twitter.com/greenroadnews
Breakaway Communications for GreenRoad
+44 (0) 7949 883636