North American Power, Pricelock Among Forbes' America's Most Promising Companies

North American Power and broker Pricelock were both named to Forbes' list of America's 100 Most Promising Companies.

The Forbes' ranking of privately held companies evaluates a variety of factors in addition to revenue to rank the companies.

Pricelock, which started as a motor fuels broker but which has recently expanded to retail natural gas supply, was ranked 44th. Forbes reported Pricelock's 2010 revenue as $5.4 million, with revenue increasing 108% from 2008 to 2010.

"This award is an acknowledgement that internet innovation is truly helping buyers and sellers of natural gas, motor fuels and other energy commodities. With easy to use online tools, we are bringing transparency, efficiency and fair competition to the energy markets, and simplifying bilateral agreements between buyers and sellers for physical delivery of energy products. Just as Amazon transformed the consumer retail industry, Pricelock is excited to be the force behind the transformation of the energy markets," said Naveen Agarwal, CEO of Pricelock.

North American Power was ranked 57th.

Forbes reported North American Power's 2010 revenues as $24 million. A three-year growth figure for revenue was unavailable as North American Power was founded in 2009.

Forbes also said that North American Power received a $5 million mezzanine loan from a single confidential investor in August 2011.

"It is an honor to have been recognized by an established and respected publication such as Forbes," said Kerry Breitbart, CEO of North American Power. "Our company remains committed to providing consumers a choice to take advantage of affordable and more sustainable energy choices, while staying true to our core mission of social entrepreneurship, charitable giving and providing an opportunity to gain financial independence through our rapidly expanding customer referral program."