MONTCHANIN, Del., May 12 /PRNewswire-FirstCall/ -- Acorn Energy, Inc.
(Nasdaq: ACFN), announced today that CoaLogix, (85% owned by Acorn and 15% by
EnerTech Capital), has obtained the exclusive worldwide marketing rights to
Solucorp Industries (Pink Sheets: SLUP) IFS-2C technology for the capturing
and fixation of heavy metals, such as mercury, for the electric power
generation industry. Utility companies in the United States face significant
pressure from state and federal regulators to reduce the mercury emission of
their coal fired generating stations. Solucorp's proprietary technologies,
which have been tested and sold commercially in the United States, provide a
value-added alternative to carbon injection systems.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080205/NYTU084LOGO )
Bill McMahon, CEO of CoaLogix, commented: "This is a significant step
toward fulfilling our CoalVision 360 goal which has a holistic view of
reducing the environmental footprint of coal fired plants. Our products,
people and technologies must work side by side on an integrated basis to
produce superior results for each of our customers' unique situations.
Solucorp's technology has been proven to be cost effective, remediates at
point of contact and therefore does not require post capture remediation or
disposal of the sorbent as with other technologies. We are delighted to have
acquired the license for this technology and look forward to working with our
new partners at Solucorp to better serve our customers. We will be marketing
this product as IFS-2C a Solucorp proprietary product under the Brand Name
Metalfix Hg."
John Moore, CEO of Acorn Energy said, "We are delighted that Solucorp
chose to partner with Bill and his team at CoaLogix to expand the
commercialization of their mercury and other heavy metals technology. This
technology represents over 22 years and tens of millions of dollars of
development on the part of Solucorp."
Mike Mattes, VP of Sales of CoaLogix said, "We know that future
regulations will require coal fired plants to significantly reduce their
mercury emissions. Solucorp's technology captures and fixates harmful mercury
by transforming the toxic contaminant into an non-toxic form and provides a
further step towards achieving environmentally acceptable coal burning energy
plants, our most abundant electric generating fuel source."
Solucorp remarked, "We chose CoaLogix due to the quality of their
relationships in the coal fired power plant business, their technical
expertise and their entrepreneurial culture. What better people to market our
technology than those at CoaLogix with their years of know how and savvy in
the energy industry."
Coalogix's right to market the MetalliFix HgO technology is subject to the
terms of an agreement between CoaLogix and SoluCorp which includes provisions
regarding the license fee and duration of the license.
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 and/or create strategic
alliances 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, Local Power and Paketeria. For more information visit
www.acornenergyinc.com.
Contact: Christianna Miller, Communications
302.656.1707/cmiller@acornenergyinc.com
SOURCE Acorn Energy, Inc.