DSIT Receives a $7.1 M Order for Blackfish Hull Mounted Sonar Systems for Anti-Submarine Warfare

DSIT Solutions Ltd., a 41.2%-held equity investment of Acorn Energy, Inc. (OTCQB: ACFN), announced today that it has received a new $7.1 million order for its Blackfish Hull Mounted Sonar (HMS) systems to be delivered over a two-year period. The Blackfish is an advanced, medium-frequency Hull Mounted Sonar designed for littoral (near shore) as well as deep water Anti-Submarine Warfare (ASW) operations.

Dan Ben-Dov, DSIT's Vice President for Sales and Marketing, commented, "This order for DSIT's Blackfish HMS systems was secured through a competitive process from a large and prestigious Navy -- a new customer of DSIT. The Navy's decision to equip its newly built vessels with our Blackfish sonar systems represents an important endorsement of our technology and the value of our solution."

Benny Sela, CEO of DSIT, added, "A few years ago we made a strategic decision to invest in developing a high-performance yet cost-effective Hull Mounted Sonar. Today, this new order further validates this strategy, following an over $15 million order in 2015. Moreover, DSIT now offers several versions of our Blackfish HMS to enable its installation on different types and sizes of vessels."

Jan Loeb, CEO of Acorn Energy, stated, "The Blackfish contract expands DSIT's order backlog to $26 million and highlights the strength of its product offerings. We believe DSIT is well positioned to extend its success with new customers around the globe."