MONTCHANIN, Del., April 26, 2012 /PRNewswire/ -- Acorn Energy, Inc. (NADSAQ: ACFN) today announced that the company will hold an InvestorDay on May 9, 2012 to showcase the domain changing technology and growing market opportunity for US Seismic Systems, Inc.
USSI's target is the oil and gas seismic market, with an addressable size of approximately $1.5 billion. The company believes that its new Ultra High Sensitivity fiber optic sensors have the potential to increase significantly the number of oil and gas fields being monitored. Today, the company estimates that only 3 percent of the fields are currently monitored.
The USSI sensors, powered only by light, are designed to replace the 50 year old sensor systems currently deployed by potential customers and support the new oil and gas recovery techniques needed to meet the world's increasing demand. The USSI systems are more reliable, more precise, less expensive and inherently safer.
The investor day will commence at the:
Hilton Woodland Hills Hotel 6360 Canoga Avenue Woodland Hills, CA 91367
at 9:30 AM with presentations by John Moore, Chairman and CEO of Acorn Energy and Jim Anderson, CEO of USSI. Lunch will be served at 11:30 AM, followed by a tour of the USSI facilities. The day should conclude at approximately 2:00 PM.
To register for the conference, please contact Jane at Acorn Energy at [email protected].
To reserve a hotel room at a group rate call 818.595.1000 and ask to book your room under the US Seismic/ Acorn Energy meeting number USS 512 or follow the link below:
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.ussensorsystems.com.
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 as filed by the Company with the Securities and Exchange Commission.
Investor Contact: Paul G. Henning Cameron Associates (212) 554-5462 [email protected]