GridSense™, an Acorn Energy Company, Announces Order From a Southeast Asian
National Electric Utility in Excess of $1 Million
SACRAMENTO, Calif., July 25, 2013
SACRAMENTO, Calif., July 25, 2013 /PRNewswire/ -- GridSense™, an Acorn Energy
(NASDAQ: ACFN) company that develops and markets advanced monitoring solutions
for the electric power industry, announced today an order that is an initial
success of its efforts to grow internationally and prove its leadership in
distribution optimization. The order is for 700 units of GridSense's
Distribution IQ and Line IQ and is enabled by Grid InSite™ software. It is
valued at in excess of $1 million.
(Logo: http://photos.prnewswire.com/prnh/20120426/NY96114LOGO )
GridSense has secured this order from a major Southeast Asian national utility
based on a partnership with a regional smart grid company. The order will be
processed and shipped in the third quarter of 2013. The current order
represents another conversionofa pilotto aninitial commercial
orderinvolving 700 units.In the first quarter of 2013, GridSense finalized
shipment of an order in excess of $750,000 for a western US utility. The
Company currently has forty-six such pilots ongoing.
John Moore stated in connection with this order: "Electric grid reliability is
essential for the continued economic expansion of the customer's country. We
are excited to be in on the ground floor of the modernization of the electric
grid of this emerging nation. We and our local partner are completely
committed to the successful rollout of this program and the creation of a
valuable reference customer."
"I am encouraged by the traction we are seeing on the back of a more focused
approach to satisfying key customer requirements. This traction translates
into converting ongoing pilots into initial commercial roll-outs and I am very
excited with our current pilots both domestically and internationally," stated
Joe Musanti, President and CEO GridSense.
GridSense is a smart grid technology company dedicated to providing
innovative, practical and cost effective monitoring solutions to the electric
power industry. Utilizing in-depth industry knowledge and understanding of
utility requirements, we provide technology and services that help the
industry address the limitations of old and aging infrastructure. We apply
experience and technical know-how with new insight and ideas to create
intelligent, reliable and leading edge technologies that add value to our
customers and shape the future of the modern electrical power system.For more
information visit (www.gridsense.com).
About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company whose four portfolio companies help
their customers achieve greater productivity, reliability, security, and
efficiency—factors which can lead to greater profitability. GridSense
provides monitoring for all critical points along the electricity delivery
system. OMNIMETRIX remotely monitors emergency back-up power generation
systems to increase their reliability. US Seismic supplies fiber optic sensing
solutions to increase oil/gas production and lower costs. DSIT provides
security solutions from underwater threats to naval and marine based energy
assets. For more information visit:http://www.acornenergy.com.
Safe Harbor Statement
This press release includes forward-looking statements, which are subject to
risks and uncertainties. There is no assurance that Acorn Energy, Inc. or its
operating companies will continue to grow their respective businesses, or that
any of them will meet the expectations or execute the initiatives described or
referred to above. A complete discussion of the risks and uncertainties which
may affect Acorn Energy's business generally and the businesses of its
subsidiaries is included in "Risk Factors" in its most recent Annual Report on
Form 10-K as filed by Acorn Energy with the Securities and Exchange
GridSense Contact: Leonce Gaiter
SOURCE Acorn Energy
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