CoaLogix' SCR-Tech Awarded Contracts Valued at $5.5 Million

CHARLOTTE, N.C., May 16, 2011 /PRNewswire/ -- CoaLogix Inc. announced today that its subsidiary, SCR-Tech, LLC, has received a number of orders valued at approximately $5.5 million dollars from several different utility companies throughout the USA.  The contracts include not only Regenerated SCR catalyst replacements and services, which reduce NOx in coal fired utility plants, but also the ammonia injection grid (AIG) tunings to improve performance at several power generation stations.

According to Bill McMahon, CEO of CoaLogix, "These orders reflect the ongoing confidence of all types of utility customers (large, mid-size and smaller), and some are first time customers.  The long-term supply agreements reflect many months of negotiations that tailor fit each utility company, depending on their resources and needs. All of these services will help them to improve their operations. We plan to utilize both regeneration plants here in Charlotte to deliver these orders."

CoaLogix has proven that regenerated SCR catalyst:

• Costs ~ 40% less than new
• Can be available in weeks, not  months
• Eliminates the burden of  land filling
• Requires 66% less CO2
• The performance is similar to new catalyst

To date, CoaLogix has regenerated over 25,000 modules of catalyst, many during actual plant outages. In addition, CoaLogix has over 40,000 MW under contract for catalyst management services. CoaLogix' NOxAssure program currently consists of over 3,000 modules of plate, honeycomb and corrugated catalyst of various specifications, representing over $30,000,000 of "new value" to coal-fired power plants.

About CoaLogix

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 a 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 also owns CoaLogix Tech, which is a provider of SO3 mitigation systems to coal-fired power plants.  CoaLogix integrates leading-edge technologies, a highly skilled workforce, and more than 160 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. 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 http://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.

For more information about CoaLogix, call (704) 827-8933, email [email protected]. Alternatively, visit www.CoaLogix.com

Press Contact:
Randy Sadler
Director of Marketing & Sales
[email protected]
704-812-4206 direct

Investor Contact:
Paul G. Henning
Cameron Associates
(212) 554-5462
[email protected]

SOURCE CoaLogix Inc.