Red Herring's lists of the best privately owned businesses are an important element in the magazine's tradition of identifying new and innovative technological businesses and enterprising businesspeople. The editors of Red Herring were among the first to take notice of pioneering businesses such as Google, eBay and Skype, for which the editors predicted bright futures as trailblazing enterprises that would transform the ways people live and work.

The editors of Red Herring rely on strict parameters to evaluate businesses. Each assessment includes a meticulous analysis of financial data, as well as subjective criteria such as the quality of the business's management, the implementation of its strategy, and its commitment to research and development.

Headquartered in Brunnthal (near Munich), the P21 GmbH is a globally leading manufacturer of fuel-cell based backup power systems supporting the telecommunication industry. Having already successfully proven its technology in various field tests with international telecommunication carriers, P21 is currently working to promulgate its technology worldwide.

"The telecommunications industry requires cost-effective, reliable and environmentally friendly backup systems in order to guarantee the 24/7 availability of mobile network base stations. P21's 'Premion T' fuel-cell system was specially developed to meet the needs of the telecommunications industry. It assures reliable electrical supply while simultaneously reducing global energy consumption," Braechtken explained.