SolarEdge Technologies, an innovative provider of distributed solar power harvesting and PV monitoring solutions, announced that it has received the Red Herring Global 100 award. The celebrated tribute recognizes the most promising private technology ventures in the world.

“We are honored to have been distinguished with [a] prestigious Red Herring Global 100 Award,” says Guy Sella, chief executive officer, chairman and co-founder of SolarEdge. “Our winning summarizes a very successful year with the launch of our mass production, sales of over 50 megawatts of energy-maximizing systems in 25 countries and significant growth in our customer base.”

For the Israeli company, SolarEdge, the Red Herring honor comes on the heels of another top accolade, a Climate Change Business Journal award in January 2011 that was given to prominent and innovative companies in the renewable energy industry.

Red Herring’s Global 100 list has become a mark of distinction for identifying promising companies. Red Herring editors were among the first to recognize that companies such as Google, Skype, Netscape, Salesforce.com, YouTube, eBay and many others would change the way we live and work.

“Choosing the best out of the previous three years was by no means a small feat,” said Alex Vieux, Chairman of Red Herring. “After rigorous contemplation and discussion, we narrowed down our list from 1,200 potential companies to 200 finalists. Trying to get it down to 100 companies was a task upon itself. SolarEdge Technologies should be extremely proud of its achievement, the competition was difficult.”

SolarEdge is acclaimed for creating “intelligent panels” that work together with a central Power Box. The PowerBoxes can enable the production of up to 25% more energy and significantly reduce costs.