CoaLogix' SCR-Tech Awarded Three New SCR Catalyst Regeneration Contracts

CHARLOTTE, N.C., March 30 /PRNewswire-FirstCall/ -- CoaLogix Inc. announced today that its subsidiary, SCR-Tech, LLC, has received three (3) new contracts valued at approximately $2 million dollars. CoaLogix, a worldwide leader in SCR environmental services for electric utilities, received these new contracts from two of the largest electric generating companies in the US. The electric generation companies cover several large geographical regions including the Southeast and the Midwest. Regenerated SCR catalyst will significantly reduce NOx emissions making coal-fired power generation cleaner, while eliminating the landfill need for the deactivated catalysts.  SCR-Tech will begin delivery of the regenerated SCR catalyst in the fall of 2010.

According to Bill McMahon, CEO of CoaLogix, "We are extremely gratified that two of the largest electric generating companies have awarded SCR-Tech their first SCR regeneration projects.  Our overall experience and qualifications allowed us to be chosen for these significant projects with catalyst regeneration.  We continually strive to exceed expectations and these new orders are a result of the commitment our people have to our customers. We will utilize both regeneration plants here in Charlotte to serve these orders."

CoaLogix has proven that regenerated catalyst costs less than new, can be available faster than purchasing new SCR catalyst, significantly reduces landfills and has a much lower CO2 footprint than new catalyst.  To date, CoaLogix has regenerated approximately 19,000 modules of catalyst, many during actual plant outages. In addition, CoaLogix has over 25,000 MW under contract for catalyst management services. CoaLogix' NOxAssure program currently consists of over 2,500 modules of plate, honeycomb and corrugated catalyst of various specifications, representing over $20,000,000 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 billion of catalyst in their SCR systems. 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.

SOURCE Acorn Energy, Inc.