Acorn Energy Announces Promotions at GridSense® and OmniMetrix™

       Acorn Energy Announces Promotions at GridSense® and OmniMetrix™

PR Newswire

WILMINGTON, Del., March 31, 2014

WILMINGTON, Del., March 31, 2014 /PRNewswire/ --Acorn Energy, Inc. (NASDAQ:
ACFN) today announced that it has made key promotions at both GridSense and
OmniMetrix. Brett Sargent, currently COO, has been promoted and will assume
the additional role of President of GridSense. Walter Czarnecki has been named
President and COO of OmniMetrix. The work initiated by Joe Musanti, CEO of
both companies, to exploit synergistic opportunities for efficiency and cost
savings will continue under the new leadership team.

Mr. Sargent has over 15 years of industry experience including leadership
roles at DuPont, Lockheed Martin, Exelon Nuclear and General Electric, where
he was Global Sales Leader for the GE Energy T&D Products division.  For the
last seven years he worked at LumaSense Technologies where he was most
recently Chief Technology Officer and VP/GM of Products and Solutions. While
at LumaSense, he helped grow sales by 400% globally in the energy, industrial
materials and advanced technologies markets. Prior to LumaSense, he spent 9
years working at General Electric where he ran P&Ls of over $75M and sales
organizations of over $570M focused on substation automation and products. Mr.
Sargent holds a B.S. in Electrical Engineering from Widener University, an
M.S. in Nuclear Engineering from Rensselaer Polytechnic Institute and an MBA
in International Business from Georgia State University.

Sargent stated, "I am excited about the opportunity to lead GridSense into the
next phase of Smart Grid expansion. GridSense is uniquely positioned to
capitalize on the smart meter deployments that have already occurred by
enabling lean grid automation in the form of distribution automation, theft
protection and asset management. Our transformer and line health monitoring
products are where they need to be to allow GridSense to be a major player in
Smart Grid deployments globally."

Currently Vice President of Business Development at Acorn, Mr. Czarnecki has
over a decade of experience in the technology and energy sectors and
previously served as Director of Corporate Strategy and Business Development
at Ener1, Inc., a maker of lithium-ion energy storage solutions. He managed
Ener1's joint venture with China's largest Tier I auto parts supplier,
Wanxiang, a $26 billion global conglomerate. Prior to Ener1, Czarnecki served
on the Corporate Strategy team for Gamesa Energy and spent four years in
Beijing, where he led the Energy Technology team for China Renaissance
Partners, a Chinese investment bank with over $6 billion in transactions. His
first assignment in China was as the University of Maryland's first employee
in Asia where he established UMD's China strategy and increased revenue by
$3.6mm. He began his career at Lehman Brothers Investment Banking. Mr.
Czarnecki holds an MBA in Finance from the Wharton School and an MA in
International Studies with a focus on Mandarin and East Asian Studies from the
University of Pennsylvania. He is professionally proficient in Mandarin and
graduated Phi Beta Kappa from Bucknell University.

Czarnecki stated, "I am incredibly honored to join such an innovative company
and energetic team. As a leader in M2M remote monitoring, OmniMetrix has
entered an exciting new phase of growth and is poised to fundamentally alter
the way businesses think about the reliability of their critical
infrastructure. OmniMetrix's monitoring technology has enabled the company to
capitalize on the growing need by businesses and governments to improve the
reliability of their backup power systems, meet air quality requirements, and
incorporate standby generators into distributed generation initiatives."

Joe Musanti, previously named COO of Acorn Energy, remains the CEO of
GridSense and OmniMetrix, and has also been elected Chairman of the Board of
US Seismic Systems. Mr. Musanti commented, "We have promoted Brett and
Walter for their exceptional domain knowledge coupled with their passion for
growing the customer bases for our products and solutions. These two
promotions will enable me to focus on helping USSI meet its operational goals,
while insuring that our valued customers and partners at GridSense and
OmniMetrix receive the attention and service they deserve."

"These management changes are part of the Acorn plan to mature GridSense and
OmniMetrix as profitable sales organizations and prepare USSI for the
transition from a development stage business to a commercial success," stated
John Moore, CEO of Acorn Energy.

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.

About 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, it provides technology and services that help the
industry address the limitations of old and aging infrastructure. GridSense
applies experience and technical know-how with new insight and ideas to create
intelligent, reliable and leading edge technologies that add value to its
customers and shape the future of the modern electrical power system. For
more information visit: http://www.gridsense.com

About OmniMetrix™
OmniMetrix, LLC, the world leader in remote on-site power generation
monitoring provides expert capabilities in the design and development of
wireless field devices and internet-connected data management systems. This
includes microprocessor-based, miniature, on-machine field equipment, fully
redundant SQL-based data management, and web-delivered equipment status
pages. In addition, our pipeline corrosion protection line is led by the
Computer Automated Test Station which works hand-in-hand with the OmniMetrix
Pipe-to-Soil Monitor and Rectifier Monitor creating a comprehensive and the
most technologically advanced wireless corrosion protection monitoring system
available. For more information visit: http://www.omnimetrix.net

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 most recent Form
10-K filed by the Company with the Securities and Exchange Commission.

Investor & Press Contact:
F. Kent Leacock
Acorn Energy
(925) 698-1431
kleacock@acornenergy.com

SOURCE Acorn Energy

Website: http://www.acornenergy.com
 
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