Acorn Energy, Inc. to Join NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
WILMINGTON, Del., Sept. 24, 2012 /PRNewswire/ -- Acorn Energy, Inc. (NASDAQ: ACFN) the digital energy company, will join The First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (NASDAQ: GRID). This fund is an exchange traded fund that seeks investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of the NASDAQ® OMX® Clean Edge® Smart Grid Infrastructure Index.
"The availability of reliable electric power either through a smart grid or by back-up power generation will be the defining issue for the future of both the developed and developing world. Maintaining our current status quo, even without addressing the issue of ongoing increasing demand, will require over $1 Trillion in capital investment over the next several decades. Due to the aging condition of transmission and distribution networks around the world, critical grid assets such as transformers are rapidly reaching their 'end of life' and requiring utilities to change the way they manage their electrical assets and consumers to change the way they manage their consumption. Acorn Energy businesses are continuously innovating in order to provide energy intelligence to the generation, transmission and distribution industry at a defining, critical time. The solutions provided aim to offer lowest capital investment cost, low risk and highest return on investment to ensure reliability through identifying hidden capacity and minimizing losses on the existing and future network. Inclusion in this index underlines the future potential of our GridSense and OMNIMETRIX businesses," stated John Moore, CEO of Acorn Energy.
About the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index
The Index is designed to act as a transparent and liquid benchmark for the smart grid and electric infrastructure sector. The Index includes companies that are primarily engaged and involved in electric grid; electric meters, devices, and networks; energy storage and management; and enabling software used by the smart grid and electric infrastructure sector. The securities must also meet other eligibility criteria which include minimum requirements for market capitalization and average daily dollar trading volume. The NASDAQ OMX Clean Edge Smart Grid Infrastructure Index is evaluated semi-annually in March and September. For more information about the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.
About Acorn Energy, Inc.
Acorn Energy, Inc. (NASDAQ: ACFN) is a holding company focused on making energy better by providing digital solutions for energy infrastructure asset management. The four businesses in which it has controlling interests improve the world's energy infrastructure by making it: more secure - providing security solutions for underwater energy infrastructure (DSIT); more reliable - providing condition-based monitoring to critical assets on the electric grid (GridSense and OMNIMETRIX) and more productive and efficient - increasing oil and gas production while lowering costs through use of permanent ultra-high sensitive seismic tools that allow for a more precise picture of reservoirs (US Seismic). For more information visit: http://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 Acorn Energy, Inc. or its operating companies will continue to grow their respective businesses, or that any of them will meet the expectations or execute the initiatives described or referred to above. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally and the businesses of its subsidiaries is included in "Risk Factors" in its most recent Annual Report on Form 10-K and its most recent10-Q as filed by Acorn Energy with the Securities and Exchange Commission.
Investor & Press Contact:
Paul G. Henning
SOURCE Acorn Energy, Inc.