Coreworx Selected by CITIC Pacific Mining

KITCHENER, Ontario, Dec. 16 /PRNewswire-FirstCall/ — Coreworx Inc., a subsidiary of Acorn Energy, Inc. (Nasdaq: ACFN), today confirmed CITIC Pacific Mining’s use of Coreworx’s software to help manage workflow and project construction content for its US$3.5 billion dollar Sino Iron mining project in Australia.

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Beginning in September 2007, Coreworx has worked with CITIC Pacific Mining to implement solutions that simplify project content management for its complex, world-class, large-scale magnetite iron ore project located at Cape Preston, in Western Australia’s Pilbara region. Coreworx is pleased with the progress, particularly with the improved efficiency of content management and the risk mitigation that is being accomplished with the help of Coreworx’ customization capabilities, a critical advantage for meeting CITIC Pacific Mining’s requirements. CITIC Pacific Mining is also benefiting from Coreworx compatibility with existing IT platforms and ease-of-use among project information managers and document controllers.

The Sino Iron project is an immense undertaking. It includes a magnetite concentrator, pellet plant, port facilities, a combined-cycle power station, a large desalination plant, and an accommodation village.

“This project is a perfect fit for our software solution and the results to date speak for themselves,” said Ray Simonson, Coreworx’s CEO. “Every manager and engineer working on Sino Iron is on top of things, 24/7, and is currently experiencing improved control, safety and security for this extremely large and complex construction project.”

The CITIC Pacific Mining project’s international nature is a prime example of Coreworx’s global impact,” John Moore of Acorn Energy added, “If you include the hundreds of other mega projects around the world that are being built with Coreworx’ help, they are currently helping to keep nearly half a trillion dollars worth of mega projects on time and on budget. That is very important for the construction industry in today’s challenging credit environment.”

About Coreworx

Coreworx Inc. provides integrated document control and automated workflow management for mega capital projects in the energy infrastructure and resource sectors. The Coreworx solution is a proven web-based enterprise software system that enables engineering and construction contractors and owner/operators to automate best practices and improve performance throughout the entire project lifecycle. Coreworx services a portfolio of projects valued at over $500 billion across more than 50 countries, on more than 400 capital projects with nearly 70,000 users. Coreworx has offices in Houston, Calgary and Kitchener.

Coreworx Inc. is an Acorn Energy company.

About CITIC Pacific Mining

CITIC Pacific Mining is developing the Sino Iron project, a world class, large-scale magnetite iron ore project located at Cape Preston in the Pilbara. The project is the largest planned magnetite project in Australia, and the first to include large scale downstream processing. For more information, please visit www.citicpacificmining.com

About Acorn Energy, Inc.

Acorn Energy, Inc. is a publicly traded holding company focused on improving the efficiency and environmental impact of the energy infrastructure, fossil fuel and nuclear industries. Our 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 CoaLogix, Comverge, Coreworx, DSIT and Gridsense. For more information visit www.acornenergy.com.

Safe Harbor Statement

This press release includes forward-looking statements, which are subject to risks and uncertainties. For disclosure of risks and uncertainties which may affect Coreworx’s business and Acorn Energy’s business generally , see the information under “Risk Factors” in Acorn’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K as filed with the Securities and Exchange Commission.

    CONTACTS:

    Mike Marsh
    V.P. Marketing
    Coreworx Inc.
    (519) 772 3190
    mmarsh@coreworxinc.com

    Julia Davis
    Marketing Manager
    Acorn Energy, Inc.
    (302) 656 1707
    jdavis@acornenergy.com

SOURCE Acorn Energy, Inc.