DSIT Signs Agreement Valued Close to $5M for AquaShield DDS(Givat Shmuel, Israel, September 24, 2009) -- DSIT Solutions Ltd., a subsidiary of Acorn Energy Inc. (NASDAQ: ACFN), has announced the signing of an agreement with a leading Homeland Security (HLS) integrator securing future orders for its underwater site security systems. Under the agreement the integrator commits to providing DSIT, by the end of Q1 2010, with orders for the AquaShield(tm) Diver Detection Sonar (DDS) system totaling close to US$5,000,000. The agreement also includes an option for ordering additional AquaShield(tm) systems worth up to US$5,000,000 by the end of 2010. With this agreement, in the last nine months DSIT has reported major orders and commitments for its underwater sonar surveillance systems amounting to US$ 9,000,000.
The AquaShield(tm) DDS systems to be ordered based on this agreement are intended for deployment to defend strategic sites such as power plants, ports, and energy terminals, each with its own underwater topology, sea conditions and inherent sea life. At some of the locations, requiring wide area coverage, multiple DDS units are to work simultaneously and will be controlled by and report to a single Command and Control center.
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The AquaShield(tm) Diver Detection Sonar system is DSIT's top of the line, long-range intruder detection system that automatically detects, tracks, classifies and alerts of any kind of underwater threat approaching a site. The system is believed to provide the longest range of detection available in the market, which makes it highly effective in terms of response time. The system, chosen by commercial and governmental customers to protect their high-value coastal assets, has been successfully operational in the water for long periods of time. The AquaShield(tm) DDS can work autonomously, or as part of DSIT's PortView(tm) Harbor Surveillance System (HSS), which incorporates radars, day/night cameras, diver detection sonar systems, and other surveillance sensors to achieve total port security.
"When we started developing the AquaShield(tm) Diver Detection Sonar, the notion of providing busy ports and hectic energy terminals with an underwater site security system seemed a very challenging task. Providing a fully automatic solution was viewed by many as science fiction" said Dan Ben-Dov, DSIT's VP Sales & Marketing. "Today, we are very proud to have multiple operational sites around the world protected by our DDS with no operator manning the system. Only upon classification and alarm does the security officer enter the picture. This is a major advantage we have over rival systems, which translates into much lower operating costs over time."
DSIT's CEO, Benny Sela, remarked that "We are very pleased with the number and magnitude of orders recently received by the company. These orders reflect our strong commitment to our customers and partners. DSIT's AquaShield(tm) DDS has become synonymous with underwater security for ports and energy installations. We believe this is the result of our successful delivery of high performance, continuously operational, underwater site security systems, as opposed to other solutions which only offer short range sensors without our full automatic capabilities. DSIT places great importance in the feedback coming from current and potential customers and uses it to further enhance its product lines."
Source : DSIT Solutions Ltd.
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