SACRAMENTO, Calif., Nov. 20, 2012 /PRNewswire/ -- GridSense™, an Acorn Energy (NASDAQ: ACFN) company that develops and markets advanced monitoring solutions for the electric power industry, has been named by AlwaysOn one of its GoingGreen 200 Top Global Companies to Watch for 2012. AlwaysOn is the premier source for the analysis and prediction of top trends and top companies in Greentech and other industries. Among the companies AlwaysOn highlighted prior to their breakouts include Google, Salesforce.com, Skype and Tesla. The GoingGreen Global 200 celebrates companies that "disrupt the established energy, manufacturing and technology worlds" and pioneer "new ways to deliver efficient products to a resource-hungry world."
By winning this award GridSense now becomes the second Acorn Energy Company to be honored with a GoingGreen Award by AlwaysOn. In 2009 CoaLogix was a GoingGreen award winner, and in 2010 CoaLogix was chosen by AlwaysOn as one of the GoingGreen East Winners. Acorn successfully completed the sale of CoaLogix in 2011 for $101 million to Energy Capital Partners.
"We are honored to be recognized by GoingGreen," says GridSense™ CEO Lindon Shiao. "Our intelligent monitoring solutions for transformers and overhead lines are engineered to help utilities provide more reliable and efficient service, helping them maximize current resources and minimize the need for new generation facilities. It's great to be recognized for making progress in those areas."
The GridSense™ focus on optimization stems from the utility industry's dual challenges of increased efficiency mandates combined with minimal additional resource allocation. Utilities must do more with what they have, including; adapt to the disruptive influence of renewables, minimize downtime, and meet increasingly stringent efficiency mandates. GridSense™ monitoring solutions are designed to help utilities achieve these goals.
The GoingGreen Global 200 Top Companies to Watch were selected by a panel of industry experts that included the AlwaysOn editorial team, as well as its venture capital and enterprise partners.
About GridSense Inc. 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., the digital energy company 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, 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 recent 10-Q as filed by Acorn Energy with the Securities and Exchange Commission.
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