Hifi announced as one of Deloitte Technology Fast 500™ and Clean Technology program winners

CALGARY, Alberta, November 17^th, 2021 — Hifi Engineering Inc. (“Hifi”), a developer and supplier of next-generation fiber optic sensing technology and machine learning software used to monitor critical infrastructure including pipelines, oil and gas wells, and other assets, today announced it has been presented with the Deloitte Technology Fast 500™ program award for its rapid revenue growth, entrepreneurial spirit and bold innovation. Deloitte Technology Fast 500™, now in its 27th year, is a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America.  Hifi ranked 436 as a Technology Fast 500™ award winner for the 2021 program.

Hifi has also received a Clean Technology award, a new award category in the program that recognizes top clean innovators providing processes, goods or services that reduce environmental impacts. Eligibility in the Clean Technology category requires applicants to meet the same criteria as for Technology Fast 50 nominees except they must have a minimum revenue of $50,000 in 2017 and $5 million in 2020. The majority of the companies’ revenues must come from products or services that have a positive environmental impact in the following areas: carbon emissions reduction potential, resources circulation (reduce, reuse and recycle), or environmental preservation and safety.

Hifi’s President & CEO Steven Koles credits Hifi’s tremendously talented and dedicated team members, market focus, industry leading sensing performance and sensitivity, as well as turnkey service offering with the company’s revenue growth. Koles said, “Hifi is extremely proud to have achieved the honor of the Technology Fast 500 and Clean Technology awards.”

About the Technology Fast 50™ program
The Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features distinct categories, including the Technology Fast 50 ranking, Enterprise Fast 15, Clean Technology, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying technology companies in the United States and Canada. The 2021 program sponsors include RBC, EDC, Miller Thomson, Clarity Recruitment, and Lafond. For further information, visit www.fast50.ca.

About the 2021 Deloitte Technology Fast 500™

Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About Hifi

Hifi is a privately held Canadian company, with minority ownership from Enbridge, Cenovus and BDC, specializing in the development, supply and commercial operation of next generation fiber optic sensing technologies and machine learning software primarily used for preventative leak detection for pipelines and monitoring of critical assets. Headquartered in Calgary, Alberta, Hifi currently has a number of commercialized products based on its high fidelity distributed sensing (HDS™) technology platform, over 70 patents, and was named the winner of the 2019 Canadian Energy Pipeline Association (CEPA) Foundation Innovation Award, the Digital Innovator of the year for the 2019 Global Petroleum Show (GPS) awards, and the Technology Innovation Leadership Award from Frost & Sullivan for 2021.

For more information, visit https://hifieng.com or contact info@hifieng.com