Babcock & Wilcox Selects Coreworx Support Software for its B&W mPower(TM) Nuclear Reactor

December 29, 2009

KITCHENER, Ontario, Dec. 29 /PRNewswire-FirstCall/ — Coreworx Inc., a subsidiary of Acorn Energy Inc. (Nasdaq: ACFN), announced today that Babcock & Wilcox Nuclear Power Generation, Inc. (B&W NPG) will employ Coreworx support software in the development, licensing and delivery of the innovative new B&W mPower nuclear reactor. B&W NPG is an operating subsidiary of The Babcock & Wilcox Company (B&W).

The B&W contract confirms Coreworx’ place as the global leader in project information control solutions for complex capital projects. The Coreworx Nuclear Industry solution delivers best-in-class document and design control work processes for the engineering, construction and commissioning of new nuclear facilities and the refurbishing of existing nuclear reactors. Coreworx technologies service more than 500 complex projects world-wide, worth more than $500 billion dollars and supporting more than 70,000 users in 50 countries.

B&W has over 50 years’ experience designing and manufacturing nuclear reactors. The B&W mPower reactor design uses a short, vertically integrated supply chain and alternative methods of delivery and installation to provide customers with significant cost, schedule and quality benefits over traditional nuclear plants constructed on site. Local economies currently served by aging fossil fuel plants are ideal candidates for the carbon-free power provided by nuclear energy, but until now the cost and complexity of constructing a typical nuclear power plant has hindered their development. Supported by Coreworx’ project management software, the B&W mPower reactor design is expected to offer customers better project cost, quality and schedule certainty. More information about the mPower reactor can be found on the B&W website: www.babcock.com/products/modular_nuclear.

Coreworx CEO Ray Simonson says, “The selection of Coreworx project control software by an innovative leader such as B&W stands as further validation of the efficacy of our product. Our team has listened to the industry and worked hard to translate our extensive capital project experience to help transfer B&W’s best practices to future B&W mPower reactor customers. Other Coreworx customers include Fluor, Chevron, BHP Billiton, CITIC Pacific Mining, and J. Ray McDermott, and this new contract affirms the faith these market leaders in global energy and resources have placed in us.”

Construction of the average nuclear plant requires managing over a million documents spanning the three main regulatory steps – standard design certification, obtaining an early site permit and fulfilling the obligations of an approved combined license application. Coreworx Nuclear Solution facilitates design control, procurement, document control, quality assurance programs, and electronic records management. The result is a project more likely to come in on time and on budget.

About The Babcock & Wilcox Company:

The Babcock & Wilcox Company (B&W), an operating subsidiary of McDermott International, Inc., is a leader in advanced energy technology innovation and service, primarily in nuclear and fossil power. Providing quality products and technical services to commercial and government customers, B&W is focused on issues such as energy efficiency, clean air, global market competitiveness, and safe and secure resolution for nuclear waste. B&W has locations worldwide and employs more than 20,000 people. The company is located on the Internet at www.babcock.com.

About Coreworx:

Coreworx Inc. provides integrated project execution and information control solutions for mega capital projects in the oil & gas, power and mining 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, mitigate business risks 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, Baton Rouge, Calgary and Waterloo. For more information, visit www.coreworxinc.com. Coreworx Inc. is an Acorn Energy company.

About Acorn Energy:

Acorn Energy, Inc. is a publicly traded holding company with equity interests in CoaLogix, Coreworx, DSIT and GridSense. These companies leverage advanced technologies to transform and upgrade the energy infrastructure around the world. Acorn companies are focused on three problems in the energy sector: improving the efficiency of the energy grid, reducing the risk for owners of large energy assets, and reducing the environmental impact of the energy sector. Acorn’s strategy is to take primarily controlling positions in companies led by great entrepreneurs. For more information visit http://www.acornenergy.com

    For more information:

    Andrew McCracken
    Business Manager
    (225) 366-6596

SOURCE Acorn Energy Inc.

Source: newswire

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