GridSense, an Acorn Energy Company, Announces Another Order With A Large
SACRAMENTO, Calif., Nov. 14, 2013
SACRAMENTO, Calif., Nov. 14, 2013 /PRNewswire/ --GridSense, an Acorn Energy
Company (NASDAQ: ACFN), announced that alarge Midwestern utility recently
concluded a year-long pilot of the LineIQ^® monitoring solution for older
distribution substations. During the pilot, LineIQ not only demonstrated its
efficacy at providing load profile and other information to help the utility
gauge substation health, but also its ability to do so at a fraction of the
usual metering cost. As a result, the utility has ordered 150 LineIQ units for
deployment to more than 50 sites over the next year.
Lack of substation intelligence is a major problem at US utilities. Many of
these substations house aging and vulnerable transformers. In order to
guarantee the safety and reliability of the power supply, utilities need to
monitor the transformer load profiles in order to identify substations that
are at or near capacity; that is, if they're running "hot."
At approximately $5,000 for a set of 3 LineIQ Sensors and remote
communications, the solution can be a fraction of the cost of many substation
automation projects, which can easily run up to twenty times as much.With
substation intelligence at the top of most utility's smart grid to-do lists,
the market potential for thishighly cost-effectiveapplication is
"As evidenced by this and other recent announcements, GridSense is starting to
gain momentum not only in securing pilots, but in converting them to larger
scale rollouts. We believe this LineIQ rollout also validates GridSense's
recently updated strategy, said Joe Musanti, President & CEO of GridSense.
"This order is a testament to the focused efforts of our relationship managers
as they hone in on our high-value pilots as well as our customer support team
who have really put on a full-court press to meet the customer's specific
requirements. Our approach should help deepen our customer
relationships,help ensure both successful pilots, and result inadditional
system rollouts. "
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 under "Risk Factors"" in the Company's Form 10-Q for
the third quarter of 2013 filed by the Company with the Securities and
VP Business Development
Investor & Press Contact:
F. Kent Leacock
VP External Affairs
SOURCE Acorn Energy, Inc.
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