August 2, 2011
CoaLogix’ SCR-Tech Awarded New Contracts Worth $4.1M for Regenerated Catalyst and SCR Management Services
CHARLOTTE, N.C., Aug. 2, 2011 /PRNewswire/ -- CoaLogix Inc. announced today that its subsidiary, SCR-Tech, LLC, has received several new orders for regenerated catalyst and catalyst management services. The regeneration services are planned for this fall. One order for regeneration comes under a long-term supply agreement and one order is from a new customer. In addition to regeneration services, a new order was received for extending the term for a SCR management contract. Two of these utility companies are long-time customers of SCR-Tech and one is a new customer. SCR catalyst is used to reduce nitrogen-oxides (NOx) in coal-fired utility plants and is the most efficient NOx removal system.
According to Bill McMahon, CEO of CoaLogix, "We continue to be proud of the service we provide to our customers and are pleased that they respond with repeat orders. These orders include contracts from our partner, Cormetech. CoaLogix strives to earn the 'trusted advisor' role from our customers through consulting, regeneration and SCR services. We will use both plants in Charlotte to support these orders."
- Costs ~ 40% less than new catalyst
- Can be available in weeks, not months
- Eliminates the burden of land filling
- Requires 66% less CO2
- The performance is similar to new catalyst
To date, CoaLogix has regenerated over 25,000 modules of catalyst, many during actual plant outages. In addition, CoaLogix has over 40,000 MW under contract for catalyst management services. CoaLogix' NOxAssure program currently consists of over 3,000 modules of plate, honeycomb and corrugated catalyst of various specifications.
CoaLogix Inc. is focused on providing innovative services to coal-fired generating facilities to reduce their environmental footprint through technology, optimization and efficiency improvements. CoaLogix owns SCR-Tech, LLC which is the leading provider of selective catalytic reduction (SCR) management services and catalyst regeneration technologies used by coal-fired power plants to reduce nitrogen-oxides (NOx) emissions. Currently, coal-fired power plants contain approximately $1.5 billion of catalyst in their SCR systems. CoaLogix also owns CoaLogix Tech, which is a provider of SO3 mitigation systems to coal-fired power plants. CoaLogix integrates leading-edge technologies, a highly skilled workforce, and more than 160 years of combined senior management experience in the environmental and power generation industries to provide innovative, cost-effective solutions that help our customers achieve and maintain compliance with increasingly stringent environmental regulations. CoaLogix' major investors are Acorn Energy, Inc. and EnerTech Capital.
About Acorn Energy, Inc.
Acorn Energy, Inc. (NASDAQ: ACFN) 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 (US Seismic Systems, Inc.). For more information visit www.acornenergy.com.
About EnerTech Capital
EnerTech Capital is a pioneer in the CleanTech space and has been successfully investing in energy and clean energy technology companies since 1996. The Firm brings a practical, proven and seasoned approach to its investment activities while focusing on early to expansion stage opportunities that dramatically improve the profitability of producing, transporting/transmitting or consuming fuels/power. EnerTech is located in Philadelphia and Toronto. For more information visit www.enertechcapital.com.
Safe Harbor Statement
This press release includes forward-looking statements, which are subject to risks and uncertainties. These risks and uncertainties include competition in the market for catalyst and regeneration and possible adverse changes in governmental regulations affecting utilities' need for catalyst. For disclosure of additional risks and uncertainties which may affect CoaLogix' business and prospects and Acorn Energy, Inc.'s business generally, see the information under "Risk Factors" in Acorn Energy's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K as filed with the Securities and Exchange Commission.
Director of Marketing & Sales
SOURCE CoaLogix Inc.