Hydroid, LLC, a leading manufacturer of Autonomous Underwater Vehicles (AUVs), announced today that it has been named to Inc. Magazine's first-ever Inc. 5,000 list. The list, which is comprised of the fastest-growing private companies in America, was created to expand upon the publication's long-standing and prestigious Inc. 500 list.
"The Inc. 5,000 provides the most comprehensive look ever at the most important part of the economy - the entrepreneurial part," said Inc. 5,000 project manager Jim Melloan. "The expansion of the list has allowed us to tell the stories of larger companies, older companies and a wealth of companies in industries like Manufacturing and Construction that are underreported in the business media."
"Hydroid's tremendous growth over the past four years is due to our innovative and reliable technology, dedicated staff and intense focus on customer satisfaction," said Christopher von Alt, president and one of the co-founders of Hydroid. "We're honored to be named to the first Inc. 5,000 list and plan to continue our success by working hand-in-hand with our customers to meet their evolving needs."
Hydroid's REMUS (Remote Environmental Measuring Units) AUVs can be fitted with a number of different types of sensors and cameras and have been used to aid in hydrographic surveys, harbor security operations, debris field mapping and scientific sampling and mapping. Hydroid has recently won contracts from Navies and organizations from around the globe, including the U.S. Department of Defense, the Royal Australian Navy, the Royal New Zealand Navy, the Scripps Institution of Oceanography and the Woods Hole Oceanographic Institution (WHOI). Hydroid also expanded its international presence in July 2007 by opening a new office in Southampton, England.
For more than 25 years, the Inc. 500 has been the essential guide to the most entrepreneurial companies in America. The 2007 Inc. 5,000 includes the Inc. 500, but digs deeper to offer the most comprehensive look ever at the entrepreneurial engine driving the U.S. Economy. The Inc. 5000 list measures revenue growth from 2003 through 2006. To qualify, companies had to be U.S.-based and privately held, independent - not subsidiaries or divisions of other companies - as of December 31, 2006, and have had at least $200,000 in revenue in 2003, and $2 million in 2006.