Vancouver’s Solegear Bioplastics announced today that they have been recognized by Frost & Sullivan with the 2010 North American Award for New Product Innovation of the Year for its Polysole® Bioplastic.

Earlier this week the New Ventures BC judges selected Solegear Bioplastics as one of the 10 Finalists for the the 2010 competition.

In June, Solegear announced its commercialization of Polysole and its biocomposite product, Traverse. Since that time, and exceeding initial projections, Solegear has attracted and delivered product to customers across North America. Solegear now has a pipeline of business worth over $4 Million in recurring business for 2011.

Solegear is nearing the end of raising Series A investment and has decided to immediately pursue further funding due to its rapid growth and recognized market position.

2010 Top 10 Companies announced