Jim Andersen, President US Seismic Systems, an Acorn Energy Company to Present at Marcellus Shale Coalition Technology Showcase
WILMINGTON, Del., Sept. 17, 2012 /PRNewswire/ -- Acorn Energy, Inc. (NASDAQ: ACFN) the digital energy company today announced that Jim Andersen, Founder, President & CEO of its portfolio company, US Seismic Systems, Inc. (USSI), will present on September 19, 2012 at the Marcellus Shale Coalition Technology Showcase which is part of the Shale Gas Insight Conference at the Pennsylvania Convention Center in Philadelphia, PA.
The Marcellus Shale Coalition Research Collaborative and the Ben Franklin Technology Partners, Shale Gas Innovation and Commercialization Center (SGICC) are sponsoring the Technology Showcase to provide suppliers of emerging technologies an opportunity to present their technology to the natural gas producer, midstream pipeline, and service community.
SGICC Director Bill Hall noted, "The importance of the gas utilization topic – finding local solutions to utilize the natural gas and natural gas liquids, can't be overstated. Right now there's a bottleneck slowing down the economic development opportunities the shale gas play offers the Commonwealth and the Nation, and our goal is to elucidate the various strategies being investigated to solve this critical challenge."
"We are very pleased to have been selected to present our Ultra-High Sensitivity fiber optic seismic sensor technology to the coalition of operators involved in the production of the largest unconventional oil & gas shale field in North America," said Jim Andersen. "The Marcellus Shale Coalition is a recognized leader in promoting the utilization of new technology for the safe and efficient extraction of oil and gas, and we anticipate that it is only a matter of time before other entities around the globe follow its example."
"The MSC Technology Showcase will highlight innovative companies that operate in the Shale Gas Industry's robust supply chain. Companies were chosen to present based on the value proposition they bring to the industry and their market readiness. We are thrilled to include this important part of the industry in the Shale Gas Insight Conference," stated Kathryn Klaber, MSC President.
"Over the course of 2012 USSI has continually received validation of their step changing seismic technology. We believe the USSI fiber optic microseismic sensor technology will revolutionize how oil and gas companies will realize improved net present value of their capital expenditures and thereby shareholder value for years to come," said John Moore, President & CEO Acorn Energy, Inc.
About US Seismic Systems, Inc.
US Seismic Systems, Inc. ("USSI"), designs, integrates, manufactures, and sells fiber optic sensing systems and solutions for the Energy and Defense markets. USSI utilizes all-optical fiber sensing technology for its state-of-the-art sensors. USSI's proprietary optical fiber and electronics combine to form the sensor system. It is designed to replace the legacy electronic-based sensor systems at a lower cost and with improved performance and reliability. For more information visit the USSI website at www.us-si.com
About Marcellus Shale Coalition
Founded in 2008, the Marcellus Shale Coalition (MSC) works with exploration and production, midstream, and supply chain partners in the Appalachian Basin and across the country to address issues regarding the production of clean, job-creating, American natural gas from the Marcellus and Utica Shale plays.
About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company focused on making energy better by providing digital solutions for energy infrastructure asset management. The four businesses in which we have 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 the Company and its operating companies will be able to achieve the expected growth in revenue or meet the other expectations 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 the Company's most recent Annual Report on Form 10-K and its most recent 10-Q as filed by the Company with the Securities and Exchange Commission.
Investor & Press Contact:
Paul G. Henning
US Seismic Systems Inc.
SOURCE Acorn Energy, Inc.