The Globe and Mail reported yesterday that Timminco Limited (TSX: TIM $14.00) was ranked in Deloitte Consulting’s “Technology Green 15,” part of its “Technology Fast 50” ranking. Deloitte’s website states that the Green 15 companies are honored for “creating innovative, important and economically viable intellectual property in the burgeoning field of green technology.”
According to statements from a Deloitte spokesperson, the ranking is not based on scrutiny of companies’ technology. Companies wishing to be considered for Deloitte’s ranking submit their revenue history and a brief profile, and then the company management is interviewed by a panel of Deloitte analysts. Because of this, Deloitte’s ranking only reflects Timminco management’s statements about their “innovative intellectual property,” not first-hand scrutiny of Timminco’s technology.
An independent equity research firm, Veritas, found that Timminco’s patent application had a striking similarity to standard textbooks. Veritas also stated that “even if such basic equipment can be patented a multitude of others entering the UMG-Si are also filing patents with similar claims.”
To read the Globe and Mail article, click here.
To read the asensio.com report on Veritas’ criticism of Timminco, click here.