July 10, 2008
CoaLogix Managing Over 10,000 MW of NOx Reduction
MONTCHANIN, Del., July 10 /PRNewswire-FirstCall/ -- ACORN ENERGY, INC. , a holding company focused on intelligent energy infrastructure and restructuring retail electricity markets, announced that SCR-Tech, a subsidiary of its CoaLogix' subsidiary, has secured two additional multi-year contracts with utility companies for SCR management and regeneration of catalyst. The first contract covers three coal fired units producing 2,000 MW. The second contract is for three gas fired units generating over 800 MW. The award of the second contract was a result of the successful regeneration by SCR-Tech of catalyst in less than one week, allowing the customer to return to operation to meet a recent heat wave.
These awards bring the total SCRs under management to over 10,000 MW, under agreements running up to five years in duration. The total "fleet" of SCR catalyst in use in the United States is about 145 GW for coal plants and about 50 GW for gas fired plants, representing a major growth opportunity for CoaLogix.
Bill McMahon, president and CEO of CoaLogix said: "We are very thankful to these customers and others that have put their confidence in us. Owners of coal SCR units are preparing for year-round operation beginning in 2009 and understand that the operation of the SCR can be a strategic tool for them in the future. Our gas fired customers have had catalyst installed for many years and it too is coming to the end of its useful life. On average, we have reduced our customers' cost of operation by over 50% through a CoaLogix / Customer partnership."
Mr. McMahon added: "Long term contracts build predictability into CoaLogix and our customers' business. With the coming tsunami of catalyst regeneration we gain visibility into our customers needs and they benefit from priority access to our capacity."
John A. Moore, CEO of Acorn Energy said: "We believe that air pollution control systems like SCRs are incredibly important to reducing the environmental impact of the power industry but the challenges in managing these systems is an overlooked threat to the reliability of the grid. CoaLogix is playing a critical role in helping our customers keeping their power plants on line."
CoaLogix is owned by Acorn Energy (ACFN) and EnerTech Capital and is focused on reducing the environmental footprint of power generation units in the United States and around the world. Currently CoaLogix accomplishes this through management and regeneration of catalyst in its SCR-Tech subsidiary and through the removal of mercury in its MetalliFix division.
About Acorn Energy, Inc.
Acorn Energy is a publicly traded holding company focused on improving the efficiency of the energy grid and reducing the environmental impact of the energy sector. Acorn Energy's operating companies leverage advanced technologies to transform the existing energy infrastructure. Acorn's strategy is to take primarily controlling positions in companies led by great entrepreneurs and add value by supporting those companies with marketing, strategy and business development. Acorn Energy is a global company with equity interests in Comverge, CoaLogix, DSIT, Gridsense, Coreworx, Local Power and Paketeria. For more information visit http://www.acornenergyinc.com/.
CONTACT: Christianna Miller Director of Communications Acorn Energy, Inc. (302) 656-1707 [email protected] Investor Contact BPC Financial Marketing John Baldissera 800-368-1217
Acorn Energy, Inc.
CONTACT: Christianna Miller, Director of Communications of Acorn Energy,Inc., +1-302-656-1707, or [email protected]; or Investors, JohnBaldissera of BPC Financial Marketing, +1-800-368-1217
Web site: http://www.acornenergyinc.com/