GridSense™, an Acorn Energy Company, and WEIDMANN Announce Strategic Partnership to Provide Best-in-class Bushing Monitoring
SACRAMENTO, Calif. and ATLANTA, April 16, 2013 /PRNewswire/ -- GridSense™, an Acorn Energy (NASDAQ: ACFN) company that develops and markets advanced monitoring solutions for the electric power industry, and WEIDMANN Electrical Technology, a global leader in electrical insulation and diagnostics for transformer manufacturers and transformer users, are pleased to announce a strategic partnership to combine WEIDMANN diagnostic and insulation expertise with GridSense monitoring technology. GridSense technology will power the newest member of the WEIDMANN InsuLogix® family of monitoring solutions -- the InsuLogix® B on-line bushing monitoring system.
The InsuLogix® B on-line bushing monitor systems are powered by GridSense BushingIQ® technology and give real-time condition status of transformer bushings. The system lets utilities prevent bushing failure through pre-emptive, condition-based maintenance. Bushing failures are the leading cause of catastrophic transformer failures, which can cost utilities millions in lost equipment and fire damage, and leave thousands without power for extended periods. Unlike off-line systems that require an outage to monitor bushings, the GridSense technology powering the InsuLogix® B protects transformers 24/7, in real-time, in any weather, and under full load.
The InsuLogix® B becomes the fourth monitor to be introduced by WEIDMANN in 3 years. Bushing monitoring is a key element in both GridSense and WEIDMANN strategies to offer integrated monitoring to help utilities improve the reliability of the electrical grid. In developing the InsuLogix® B, WEIDMANN technical experts evaluated the available market technologies and determined the GridSense BushingIQ® platform to be the best. The platform is fully developed, with a proven track record. Because of its maturity and reliability, WEIDMANN saw no reason to independently develop a bushing sensor, and chose instead to partner with the market leader.
"Partnering with WEIDMANN is a win-win for both companies," says GridSense Product Manager Jeff Benach. "We share the goal of offering the best in sensing technology to enable a more reliable grid. We're very pleased that after looking at the market, WEIDMANN, a company with an excellent track record and reputation chose the BushingIQ® monitoring technology over the competition's."
"We have an aggressive product roadmap that calls for a steady stream of new introductions of sensors and systems for the next 2-3 years. Partnering with GridSense allows us to bring a quality product to market quickly while at the same time continuing our own development work in other areas." says WEIDMANN Diagnostic Solutions President, Jeff Goolgasian. "WEIDMANN's expertise in insulation and diagnostics gives us a unique advantage versus other competitors in this space. Whether our own developed devices or those from our partners, we incorporate unique diagnostic features that we develop using our vast technical knowledge and huge testing information database of all key electrical apparatus."
The WICOR Group develops, produces, and distributes high-voltage insulation materials and components as well as sophisticated diagnostics, oil testing services, and sensors and monitors for transformers (Business Area Electrical Technology), and sophisticated injection molded plastics applications for automotive, sensor and water management technology, and medical technology customers (Business Area Plastics Technology). The WICOR Group is active worldwide in more than 40 locations and employs a staff of 3,600. The headquarters of the WICOR Group is in Rapperswil-Jona, Switzerland. For more information contact: WICOR Americas Inc. Jurg Brunner President and CEO, One Gordon Mills Way, P.O. Box 903, St. Johnsbury, VT 05819-0903 USA Phone: 802-748-8106 E-mail: email@example.com www.weidmann-electrical.com
GridSense is a smart grid technology company dedicated to providing innovative, practical and cost effective monitoring solutions to the electric power industry. Utilizing in-depth industry knowledge and understanding of utility requirements, we provide technology and services that help the industry address the limitations of old and aging infrastructure. We apply experience and technical know-how with new insight and ideas to create intelligent, reliable and leading edge technologies that add value to our customers and shape the future of the modern electrical power system. For more information visit (www.gridsense.com).
About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company whose four portfolio companies help their customers achieve greater productivity, reliability, security, and efficiency—factors which can lead to greater profitability. GridSense—provides monitoring for all critical points along the electricity delivery system. OMNIMETRIX-remotely monitors emergency back-up power generation systems to increase their reliability. US Seismic—supplies fiber optic sensing solutions to increase oil/gas production and lower costs. DSIT—provides security solutions from underwater threats to naval and marine based energy assets. 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 as filed by Acorn Energy with the Securities and Exchange Commission.
GridSense Contact: Leonce Gaiter
WEIDMANN Contact: Jeff Goolgasian