GridSense, an Acorn Energy Company, Announces International Pilot Project
SACRAMENTO, Calif., Nov. 13, 2013
SACRAMENTO, Calif., Nov. 13, 2013 /PRNewswire/ --– GridSense, an Acorn Energy
company (NASDAQ:ACFN), announced today that its Australian operations (CHK
GridSense Pty Ltd ("CHK")) recently won a bid valued at $325,000 to initially
supply a local Utility company with over 250 TransformerIQ^R (TIQ) units for a
pilot to monitor distribution transformers. The pilot will arm the Utility
with critical network information with an anticipated further rollout of TIQ
units across the Utility's distribution network in late 2014 and
The primary objectives of the pilot are to obtain information which will:
(a) Enhance network operations (such as fault identification, remediation and
(b) Reduce CAPEX and OPEX through better network planning and asset
(c) Improve customer service and revenue assurance.
Following a successful pilot, it is anticipated that a full rollout would
focus on the customer's transformers rated at 50kVA or greater which represent
a universe of approximately eleven thousand (11,000) distribution
The backbone of the system is Grid InSite^TM (GIS), a powerful device
management platform which collates pertinent transformer information from each
TIQ and yields performance parameters based on transformer name plate rating
in quasi real-time for quick assessment of network performance.
Dr. Angelo De Francesco, the General Manager of GridSense in Sydney, believes
the key reasons why GridSense won the bid are the simplicity of installation
and low maintenance of the TIQ hardware and the flexibility and ease of use of
the GIS platform.
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 the Company's Form 10-Q for the
third quarter of 2013 filed by the Company with the Securities and Exchange
CONTACT: Walter Czarnacki, VP Business Development, Tel: 302-245-8743,Email:
email@example.com;Investor & Press Contact:F. Kent Leacock, VP
External Affairs, Tel: 925-698-1431,Email: firstname.lastname@example.org
SOURCE Acorn Energy, Inc.
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