Multiple AquaShield(tm) Diver Detection Sonar units to protect vital infrastructure
Givat Shmuel, Israel (March 4, 2009) DSIT Solutions Ltd., a subsidiary of Acorn Energy Inc. (NASDAQ: ACFN), announced today that it received a $1.7M order for its AquaShield(tm) underwater security system.
The system, to be used by a large energy facility at an undisclosed location in Asia, will guard and protect the customer infrastructure from underwater intrusion and sabotage. The system will include multiple AquaShield(tm) Diver Detection sonar (DDS) units, which will be combined and integrated into a comprehensive surveillance system.
Dan Ben-Dov, DSIT's VP Sales & Marketing commented, "This order represents another step towards our leadership in the underwater site security market. The process began with DSIT's sale of its DDS system to a European oil terminal, which according to Jane's International Defence Review is believed to mark the first commercial sale of a diver detection device to protect a coastal energy installation. We are currently experiencing a growing demand for our products due in part to the surge in terrorist activities around the globe. This order marks the second customer procuring the AquaShield system in the last three months."
The order is an integral part of the customer's security program. Discussion on procurement of future AquaShield DDS systems for additional sites is in progress.
DSIT's CEO, Benny Sela, added that "The AquaShield(tm) DDS is in the water and operational at sites where harsh weather and rough sea conditions are present. The system has proved extremely reliable, operating around the clock. AquaShield(tm) is now a mature product ready to be installed anywhere in the world. This is yet another example of DSIT's transformation of its sonar solutions to advanced operational products."
DSIT develops sonar and acoustic solutions and acts as a system integrator for advanced Security and Safety Command and Control systems. The Company's offerings are designed to provide the latest in technology and its intelligent application for the energy, commercial, defense and homeland security markets. For more information visit www.dsit.co.il
About Acorn Energy, Inc.
Acorn Energy, Inc. is a publicly traded holding company with equity interests in CoaLogix, Comverge, Coreworx, DSIT and Gridsense. These companies leverage advanced technologies to transform and upgrade the energy infrastructure around the world. Acorn companies are focused on three problems in the energy sector: improving the efficiency of the energy grid, reducing the risk for owners of large energy assets, and reducing the environmental impact of the energy sector. Acorn's strategy is to take primarily controlling positions in companies led by great entrepreneurs. 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. For disclosure of additional risks and uncertainties which may affect DSIT's business and prospects and Acorn Energy's business generally, see the information under "Risk Factors" in Acorn Energy's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K as filed with the U. S. Securities and Exchange Commission.
Dr. Brandy Ben-Yosef
Marketing & Business Development Manager
DSIT Solutions Ltd.
+972 3 531 3333
Acorn Energy Inc.
+1 (302) 656 1707