MONTACHANIN, Del., Jan. 11 /PRNewswire-FirstCall/ -- Acorn Energy Inc. (Nasdaq: ACFN), an energy technology holding company, announced today that Edgar S. Woolard, Jr. has accepted the Board's invitation to serve as Senior Advisor to the company.
Mr. Woolard served as chairman and chief executive officer of DuPont from 1989 to 1995 and as chairman until 1997. He was credited with the transformation of DuPont, a highly creative global company. While chairman of Conoco he led its IPO and initiated the company's merger with Phillips Petroleum. He also served on the Boards of the New York Stock Exchange.Inc, Citigroup.Inc, IBM, and Bell Atlantic, Delaware. Ed also served as a director of Apple Computer Inc. and was instrumental in replacing the company's former chief executive, Gilbert F. Amelio, with current CEO Steve Jobs.
John Moore, CEO of Acorn stated, "I have enjoyed a personal friendship with Ed Woolard and am honored that he has agreed to a formal business relationship with Acorn. He is widely regarded as one of the first 'green' CEOs and during his tenure at DuPont cut toxic air emissions by 60%, carcinogens by 75% and hazardous waste by 46%. Ed and I both believe that the lowest risk, lowest cost and highest return investments lie in making the energy sector more productive and cleaner."
"Acorn's practical approach to and distinctive technologies for solving critical energy infrastructure problems are compelling and hold great promise," said Ed Woolard. "I am pleased and excited to work with John and his management teams as they confront the challenges and seize the opportunities in this dynamic and changing marketplace."
About Acorn Energy, Inc.
Acorn Energy, Inc. is a publicly traded holding company with equity interests in CoaLogix, Coreworx, DSIT and GridSense. These companies leverage advanced technologies to transform and upgrade the energy infrastructure around the world. Acorn companies are focused on three problems in the energy sector: improving the efficiency of the energy grid, reducing the risk for owners of large energy assets, and reducing the environmental impact of the energy sector. Acorn's strategy is to take primarily controlling positions in companies led by great entrepreneurs. 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 CoaLogix, DSIT, Coreworx or GridSense will continue to grow their respective businesses. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
Investor Contact: Paul G. Henning Cameron Associates (212) 554-5462 Paul@cameronassoc.com
SOURCE Acorn Energy, Inc.