An evolutionary algorithm implemented in hardware is expected to operate much faster than the equivalent software implementation. However, this may not be true for slow fitness evaluation applications. This paper introduces a fast evolutionary algorithm (FEA) that does not evaluate all new individuals, thus operating faster for slow fitness evaluation applications. Results of a hardware implementation of this algorithm are presented that show the real time advantages of such systems for slow fitness evaluation applications. Results are presented for six optimisation functions and for image compression hardware.