The system, which can dramatically reduce the carbon emissions of road repairs, helped Nu-Phalt win Best New Product.
The company, based in Rosyth Business Park, uses a patented infra-red heater system which releases just one seventh of the CO2 of traditional road repair, as well as being more cost-effective, quicker and less disruptive.
The Green Business Award judging panel, which included Prof. John Chesshire OBE of the Government's Sustainable Energy Policy Advisory Board, praised Nu-Phalt's system as 'a glowing example of eco-innovation'.
Potholes and other road defects cost the taxpayer over £62 million a year in repairs and compensation claims.
With a backlog of repairs that will take 11 years to clear, local authorities are being urged by Nu-Phalt to switch to the infra-red system, citing its cost, operational, and award-winning eco benefits as the key to improving Britain's roads.
The award was presented to Nu-Phalt's Marketing Manager Emma Stevens by comedian Hugh Dennis.
Emma said: "We are delighted to have been recognised by the judges as in this area as environmental concerns lie at the heart of our company ethos and sends the message to customers that fixing potholes need not cost the earth."