UK-based firm Windsave shared the product prize with Spain's DTS OABE in the European Business Awards for the Environment this year for the manufacture of compact wind turbines from recycled materials.
The British firm was among contestants from Spain, Holland, Finland and Italy.
The Plug'n'Save wind turbine is designed to be used on houses or offices to generate electricity, the excess of which can be fed back into the electricity grid.
Judges said the innovation was affordable and emitted noise below "ambient levels".
DTS OABE made an environmentally friendly pesticide in a less toxic lacquer, now suitable for schools or hospitals.
The city mobility award went to Copenhagen in Denmark for its sustainable urban transport system, the promotion of car-sharing and better city centre access for pedestrians and cyclists.
Children from Latvia and Greece took the top schools prizes.
The business award section attracted record applicants with 139 entries from 23 countries.
The process award went to Volkswagen for the transformation of scrapyard cars into raw materials for new cars, while the management award went to Italy's Sotral SpA for its approach to catering.
Separately, Windsave also won the Green Heroes 2006 award by the Green Organisation for "helping others to help the environment".