The largest clean energy/technology companies traded on the Toronto Stock Exchange dramatically outperformed the overall equity market in 2009, according to the latest update of the Hoggan 20-10 Clean Company List.

Vancouver-based communications firm Hoggan & Associates, which specializes in the clean energy/technology sector, released research Wednesday on the 2009 performance of major clean energy stocks.

It shows that the average value gain of the 20 largest clean energy/technology companies traded on the TSX was 75% in 2009, compared with an average gain of 31% for the TSX composite index.

The average value gain of the 10 largest clean energy/technology companies traded on the TSX Venture Exchange was 161%, compared with a 91% average gain for the TSXV composite index.

The Hoggan 20-10 Clean Company List includes the 20 largest clean energy/technology companies traded on the TSX and the 10 largest clean energy/technology companies traded on the TSXV as measured by market value at close of trading Dec. 31, 2009.

Some of the TSX-listed firms include: Brookfield Renewable Power Fund, which owns, operates and invests in hydroelectric generating stations; Azure Dynamics Corporation, a Michigan-based manufacturer of hybrid electric vehicle powertrains; and BioteQ Environmental Technologies Inc., a B.C.-based company which finances, builds, owns, and operates water treatment plants.

Clean energy companies listed on the junior Venture Exchange include: Shear Wind Inc., a wind farm developer; and Western Wind Energy Corp., a B.C.-based company which produces 75 billion watt hours per year from wind turbine generators in California.

Hoggan updates the lists quarterly, based on market data reported by the Toronto Stock Exchange.

Shafiq Jamal, executive vice president of Hoggan & Associates, said the clean energy firms have earned investor support by demonstrating their ability to increase operating revenues from renewable energy projects or from sales of technology.

“Investors have shown they are not interested in pie-in-the-sky ideas. They are interested in companies that can fill the huge need for commercial alternatives to fossil fuels and energy waste,” said Jamal. “Clean energy/technology companies that want to compete successfully for investor attention must effectively demonstrate that their business plans are leading to commercial products and services that generate revenue and profits.”

Jamal noted that the Toronto Stock Exchange has become a global leader for clean energy/technology listings.