RF Engines has won the South East England Development Agency (Seeda) Business Award for Innovation and Creativity sponsored by Qinetiq and Shoosmiths Solicitors
The judges found that RFEL was an 'exceptional' company whose management understand the importance of protecting its intellectual property.
The judges also commended the management team for its approach to investment and infrastructure and recruitment.
Staff enjoy employment benefits and the opportunity to participate in an EMI share option scheme.
John Summers, RFEL's CEO, commented: "Winning the South East Business innovation and creativity award will provide tremendous validation of our technology, the talents of the team and the wonderful pro-business environment on the Isle of Wight".
The awards attracted over 300 entrants.
Digby Jones, UK minister for trade and investment, gave the keynote speech at the awards ceremony on 6 March 2008 at Ascot racecourse.
Jones said: "The south east contains some of the UK's most exceptional businesses and these awards are a great way of recognising the region's achievements.
"I am particularly delighted these awards have been designed to recognise sustainability as I firmly believe that business must constantly think about its place in this changing world if it wants to be truly successful."
