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The fastest-growing indigenous firms in Wales have been revealed.

The Wales Fast Growth 50 for 2025 (full list below), which ranks the firms on revenue growth between 2022 to 2024 is headed by Cwmbran-based renewable energy solution venture Smart Energy Homes. Over the two-year assessment period it grew revenues by 2,672.7% from £769,890 to £21.3m.

The company delivers air source heat pumps, solar PV, battery storage, and whole-house retrofit solutions to help reduce carbon emissions and energy costs. It currently employs more than 80 staff and works with more than 120 specialist contractors. It is also expanding its social housing, able-to-pay and commercial divisions.

As well as being named the fastest growing firm in Wales, Smart Energy Homes has also been recognised as the º£½ÇÊÓƵ’s leading green growth business. The Wales Fast Growth 50 feeds into the overall º£½ÇÊÓƵ Fast Growth Index, which also assesses indexes for London, the Midlands, the East of England, the North of England, the South of England, Scotland and Northern Ireland.

In 2022 the firms on this year's Wales Fast Growth 50 generated a combined turnover of £312m. By 2024, this had increased to £1.05bn with Wales' fastest-growing businesses adding an impressive £740m in additional sales. This growth rate of 237% compared with growth of 182% across the º£½ÇÊÓƵ index and was second only to London in terms of overall growth.

Welsh fast-growth firms are not only scaling rapidly, but are also outperforming the º£½ÇÊÓƵ average. Their share of total turnover generated by companies on the º£½ÇÊÓƵ Fast Growth Index is now around 9%. Amongst all nations and regions of the º£½ÇÊÓƵ, only London recorded a higher growth rate over the assessed period.

The 2025 º£½ÇÊÓƵ index, which ranks Smart Energy Homes as the third fastest-growing, is headed by London-based Monument Bank with a growth rate of 6,929.6% with revenues up from £21.m to £149.5m.

Professor Dylan Jones-Evans, founder of the Wales Fast Growth 50 and º£½ÇÊÓƵ Fast Growth Index, said “Wales is no longer simply producing occasional standout success stories and this year’s index demonstrates that we are developing a critical mass of high-growth firms that are outperforming much of the º£½ÇÊÓƵ. The key challenge now is to ensure that these businesses receive the finance, infrastructure and policy support required to enable them to scale globally while remaining firmly rooted in Welsh communities.