US Seismic Systems, an Acorn Energy Company, Introduces Another Oil Industry First
CHATSWORTH, Calif., Nov. 2, 2012 /PRNewswire/ — US Seismic Systems, Inc., an Acorn Energy, Inc. (NASDAQ: ACFN) portfolio company continues its reputation for introducing pioneering optical sensing technology to the energy industry with the announcement today of its development of the world’s first PC-based Optical Interrogator for its revolutionary oilfield fiber optic sensing systems. Based upon technology originally developed for the US Navy’s highly successful, large-scale fiber optic sonar programs, USSI is manufacturing the product under license from Northrop Grumman Guidance and Electronics Company, Inc.
USSI will showcase this new technology along with its suite of all-optical sensing systems for hydrofrac and 4D seismic monitoring at the Annual Society of Exploration Geophysicists (SEG) meeting and exposition in Las Vegas, November 4-7, 2012. The SEG Annual Meeting is the world’s largest oil, energy and mineral exposition showcasing cutting-edge technology for use in exploration and associated industries.
“Based upon industry surveys of hundreds of decision makers within the petroleum operating companies, the primary reason given for their inability to meet their performance expectations is their limited ability to understand the subsurface to properly optimize production,” stated Jim Andersen, CEO of US Seismic Systems. “With the ability to process acoustic data at 200 times the rate of today’s seismic systems, our new optical interrogator sets a new industry standard allowing higher bandwidth, higher resolution images to vastly improve the understanding of the subsurface.”
About US Seismic Systems, Inc.
US Seismic Systems Inc. (“USSI”), designs, integrates, manufactures, and sells fiber optic sensing systems and solutions for the Energy and Defense markets. USSI utilizes all-optical fiber sensing technology for its state-of-the-art sensors. USSI’s proprietary optical fiber and electronics combine to form the sensor system. It is designed to replace the legacy electronic-based sensor systems at a lower cost and with improved performance and reliability. For more information visit the USSI website www.us-si.com.
About Acorn Energy, Inc.
Acorn Energy Inc.,the digital energy company, is a holding company focused on making energy better by providing digital solutions for energy infrastructure asset management. The four businesses in which we have controlling interests, improve the world’s energy infrastructure by making it: more secure – providing security solutions for underwater energy infrastructure (DSIT); more reliable – providing condition-based monitoring to critical assets on the electric grid (GridSense, OmniMetrix) and more productive and efficient – increasing oil and gas production while lowering costs through use of permanent ultra-high sensitive seismic tools that allow for a more precise picture of reservoirs (US Seismic). 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 in “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its most recent 10-Q as filed by the Company with the Securities and Exchange Commission.
Howard Wilkinson, VP Sales & Marketing
US Seismic Systems, Inc.
SOURCE Acorn Energy