CHARLOTTE, N.C., Oct. 15 /PRNewswire/ -- CoaLogix Inc. announced today that they have been selected as a finalist for the Rising Star in the 2010 Platts Global Energy Awards. CoaLogix provides innovative solutions for clean energy production, with a focus specifically on cost-effective emissions control solutions for the coal and gas fired power generation industry.
Established in 1999 and often referred to as the "Oscars of Energy," the Platts Global Energy Awards recognize innovation, leadership, and superior performance in more than a dozen categories spanning the entire energy industry. The Rising Star Award recognizes businesses that have used these qualities to establish themselves as equals to- or even more successful than- leading players in the energy industry field or discipline. Judges decide the winner based on the company's strategic vision, growth, innovation, scope, peer recognition and operational excellence.
"Confirmation as a finalist three years in a row for this prestigious award is a tribute to CoaLogix's loyal customers, dedicated employees and our investors," said Bill McMahon, CEO of CoaLogix. "To be awarded the 'Rising Star Award' would reinforce our commitment to innovative growth which was initially recognized with our receipt of 'Commercial Technology of the Year Award' in 2008".
Winners will be announced at the 12th Annual Awards Celebration at Cipriani Wall Street on December 2, 2010.
CoaLogix Inc. is focused on providing innovative services to coal-fired generating facilities to reduce their environmental footprint through technology, optimization and efficiency improvements. CoaLogix owns SCR-Tech, LLC which is the leading provider of selective catalytic reduction (SCR) management services and catalyst regeneration technologies used by coal-fired power plants to reduce nitrogen oxides (NOx) emissions. Currently, coal-fired power plants contain approximately $1.5 billion of catalyst in their SCR systems. CoaLogix integrates leading-edge technologies, a highly skilled workforce, and more than 180 years of combined senior management experience in the environmental and power generation industries to provide innovative, cost-effective solutions that help our customers achieve and maintain compliance with increasingly stringent environmental regulations. CoaLogix major investors are Acorn Energy, Inc. (Nasdaq: ACFN) and EnerTech Capital.
About Acorn Energy
Acorn Energy, Inc. (Nasdaq: ACFN) is a publicly-traded holding company with equity interests in CoaLogix, Coreworx, DSIT, Gridsense and US Sensor Systems Inc. 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: www.acornenergy.com.
About EnerTech Capital
EnerTech Capital is a pioneer in the CleanTech space and has been successfully investing in energy and clean energy technology companies since 1996. The Firm brings a practical, proven and seasoned approach to its investment activities while focusing on early to expansion stage opportunities that dramatically improve the profitability of producing, transporting/transmitting or consuming fuels/power. EnerTech is located in Philadelphia and Toronto. For more information visit www.enertechcapital.com.
Safe Harbor Statement
This press release includes forward-looking statements, which are subject to risks and uncertainties. These risks and uncertainties include competition in the market for catalyst and regeneration and possible adverse changes in governmental regulations affecting utilities' need for catalyst. For disclosure of additional risks and uncertainties which may affect CoaLogix' business and prospects and Acorn Energy, Inc.'s business generally, see the information under "Risk Factors" in Acorn Energy's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K as filed with the Securities and Exchange Commission.
SOURCE Acorn Energy, Inc.