Two Minnesota companies are listed on Forbes magazine’s list of the world’s 100 most innovative companies.
Pentair, which is based in Switzerland but managed out of Golden Valley, came in at 96th on the list. It's first time the pump, valves and filtration manufacturer was recognized by the financial magazine.
Forbes based the annual list on growth, future cash flow projections from existing businesses and current market capitalization. The end formula provided an “innovation premium” figure that determined rankings. Companies had to provide seven years of financial data, a certain amount of research and development spending, and at least $10 billion in market capitalization.
The online list is posted but the magazine doesn't officially hit newsstands until Sept. 2.