MISSISSAUGA, ONTARIO--(Marketwired - Sept. 18, 2017) - Pioneering Technology Corporation (TSX VENTURE:PTE)(OTC PINK:PTEFF), ("Pioneering"), a technology company and North America's leader in cooking fire prevention technologies and products announces that Canadian Business and PROFIT has ranked Pioneering for the fifth time on the annual PROFIT 500, the definitive ranking of Canada's Fastest-Growing Companies. Published in the October issue of Maclean's magazine and at CanadianBusiness.com, the PROFIT 500 ranks Canadian businesses by their five-year revenue growth.
Pioneering ranked No. 291 with five - year revenue growth of 203 percent. "It is never easy to earn a spot on the PROFIT 500, but this year's applicant pool was the most competitive yet," says Deborah Aarts, PROFIT 500 program manager. "This year's winners demonstrate the resilience, innovation and sheer management smarts it takes to build a thriving business today. Canada-and the world-needs more entrepreneurial success stories like these."
As awareness grows for Pioneering's solutions so too does revenue growth. Pioneering has delivered over 50% revenue growth in each of 2014, 2015 and 2016 and is tracking to do the same in 2017. Pioneering's new strategic distribution channel partnerships with three of the largest companies in the U.S., coupled with the upcoming changes to industry standard listing requirements, means Pioneering could scale at an even greater rate going forward.
Other meaningful Pioneering acknowledgements this year to date include, inclusion in the 2017 TSX Venture Top 50 and as one of the TSXV's top performers with a share price appreciation of 725%. Pioneering's products were also recognized by the prestigious Edison Awards in New York City with two of the Company's products earning awards for global innovation. And finally, the Company has been named a finalist for Ernst & Young's 2017 Entrepreneur of the Year award.
"It's been a very good year. We are very proud to be recognized again by the PROFIT 500," says CEO Kevin Callahan. "This recognition, is another indicator of our growing business, the strength of our innovative product solutions, and the tremendous commitment of our team to help protect lives and property from the number one cause of household fire - cooking fires. We are just getting started."
About the PROFIT 500
For 29 years, the PROFIT 500 has been Canada's most respectable and influential ranking of entrepreneurial achievement. Developed by PROFIT and now published in Maclean's magazine and at CanadianBusiness.com, the PROFIT 500 ranks Canadian companies on five-year revenue growth. For more information on the ranking visit PROFIT500.com or CanadianBusiness.com.
About Canadian Business
Founded in 1928, Canadian Business is the longest-serving and most-trusted business publication in the country. It is the country's premier media brand for executives and senior business leaders. It fuels the success of Canada's business elite with a focus on the things that matter most: leadership, innovation, business strategy and management tactics. Learn more at CanadianBusiness.com.
About Pioneering Technology Corporation
Pioneering, based in Mississauga, Ontario is an "energy smart" technology company and North America's leader in innovative cooking fire prevention technologies and products. Our mission is simple: To help save lives and property from the number one cause of household fire - cooking fires. We do this by engineering and bringing to market energy-smart solutions that make consumer appliances safer, smarter, and more efficient. Our patented cooking-fire prevention products address the multi-billion-dollar problem of cooking fires. According to the National Fire Protection Association, stovetop cooking is the number one cause of household fire and fire injuries in North America. Pioneering's temperature limiting control (TLC) technology is now installed in over 200,000 multi-residential housing units across North America without a single cooking fire being reported, delivering peace of mind and a solid return on investment for its customers. Pioneering's proprietary cooking fire prevention solutions include Safe-T-element, SmartBurner, RangeMinder & Safe-T-sensor and are suitable for the majority of the more than 140 million stoves/ranges and over 140 million microwave ovens in use throughout North America. For more info, go to www.pioneeringtech.com.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release
Pioneering Technology Corp.
Kevin Callahan, CEO
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