Acorn Energy to Host Investor Day to Spotlight US Seismic Systems Headquarters on Tuesday, July 12, 2011
MONTCHANIN, Del., June 28, 2011 /PRNewswire/ — Acorn Energy, Inc. (NASDAQ: ACFN) today announced that the company will hold a “Spotlight on US Seismic Systems, Inc.” Investor Day at the USSI headquarters in Chatsworth, California on, Tuesday, July 12, 2011. John Moore, Chairman & CEO of Acorn Energy and Jim Andersen, CEO of US Seismic Systems will host the event, which will include a lunch, presentations and a tour of the facility.
The U.S. Department of Energy believes that the use of inexpensive permanent in-ground seismic or 4D sensors, like those developed by US Seismic Systems Inc (USSI) can help increase the extraction from our domestic oilfields by as much as 50%, thereby improving U.S. energy reserves and security. USSI’s all-optical seismic sensor systems are designed to meet the demanding performance, cost and reliability requirements of permanent 4D oilfield monitoring. The systems are designed to replace the legacy magnet and coil geophone sensors used for oilfield exploration and production over the last 50 years.
John A. Moore, Chairman of the Board and CEO of Acorn Energy, said, “USSI is applying modern technology to the existing aging energy infrastructure to achieve substantial increases in productivity and efficiency in oil recovery. In addition, USSI is finding additional traction in defense markets which require the greater reliability and sophistication in monitoring underground movement which the USSI 4G seismic systems can provide.”
Spotlight on US Seismic Systems Investor Day
Tuesday, July 12, 2011
11:00am to 5:00pm
US Seismic Systems, Inc.
9601 Variel Avenue
Chatsworth, CA 91311
Register today with:
For further information, please contact:
John Moore, Chairman & CEO of Acorn Energy
About US Seismic Systems Inc.
US Seismic Systems Inc. (“USSI”), formerly US Sensor Systems Inc., 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. USSI’s new fiber optic geophone was recently awarded the coveted the 2010 Oil & Gas Industry Innovation of the Year Award by Frost & Sullivan, the world leader in technology, market, customer, and economic research. For more information visit the USSI website at: www.ussensorsystems.com.
About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company focused on technology driven solutions for energy infrastructure asset management. Our four businesses in which we have controlling interests, improve the world’s energy infrastructure by making it cleaner and less expensive to operate air pollution systems for coal and gas-fired power plants (CoaLogix), more secure by providing security solutions for underwater energy infrastructure (DSIT), more reliable by providing condition monitoring instruments for critical assets on the electric grid (GridSense) and more productive and efficient by increasing oil and gas production while lowering costs through use of ultra-high sensitive seismic tools for more precise pinpointing of oil and gas reservoirs (USSI). For more information visit 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 CoaLogix, DSIT, US Sensor Systems or GridSense will continue to grow their respective businesses. A complete discussion of the risks and uncertainties which may affect Acorn Energy’s business generally is included in “Risk Factors” in the Company’s most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
Paul G. Henning
SOURCE Acorn Energy, Inc.