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HEFEI, China, Dec. 20, 2023 /PRNewswire/ -- Sungrow, the global leading inverter and energy storage system supplier, has clinched the No. 12 spot on the 2023 Fortune Future 50 list, an exclusive recognition of the long-term growth potential among over 1,700 of the world's largest public companies. Sungrow ranked alongside other reputed companies like Spotify, Lululemon, DocuSign, and Pinterest.
Fortune, in collaboration with the Boston Consulting Group (BCG) since 2017, compiles the Future 50 list. To identify the Future 50, the BCG Henderson Institute used a "vitality" index to determine the rankings. The index is based on a top-down, market-based assessment of a company's growth potential, and a bottom-up analysis of its capacity to deliver, based on financial and non-financial metrics -- such as long-term strategic orientation, technology and investments, people, and structure.
This ranking underlines Sungrow's enduring growth trajectory. With a 26-year track record in the renewable energy industry, Sungrow dominates both the PV inverter and energy storage markets. S&P Commodity Insights estimates that Sungrow was ranked as the number one PV inverter supplier globally in 2022, shipping 77GWac of PV inverters. Another reputed report further positions Sungrow at the top spot in the energy storage market.
In addition, the Company gave its presence at the recent COP28, showing its dedicated efforts to fuel the global energy transition with technical innovation and professional global footprints.
The 2023 Fortune Future 50 companies show that despite near-term economic and geopolitical turbulence, the dominant patterns of long-term growth potential remain relatively stable. The list highlights renewable energy as a crucial driver of future sustainable and long-term development and Sungow plays a pivotal role in this momentum.
About Sungrow
Sungrow Power Supply Co., Ltd. ("Sungrow") is the world's most bankable inverter brand with over 405 GW installed worldwide as of June 2023. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial & industrial, and residential applications, as well as internationally recognized floating PV plant solutions, NEV driving solutions, EV charging solutions and renewable hydrogen production systems. With a strong 26-year track record in the PV space, Sungrow products power over 150 countries worldwide. For more information about Sungrow, visit www.sungrowpower.com.
