CHARLOTTE, N.C., Oct. 18 /PRNewswire/ -- CoaLogix Inc. today announced it has been selected as a finalist for the 2010 North Carolina Technology Association (NCTA) 21 Awards in the category of Green Technology Company. 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.
The NCTA 21 Awards are recognized as North Carolina's most prestigious awards, celebrating innovation and excellence in the state. This annual showcase honors companies and individuals in 21 categories who represent the best and brightest in technology and business.
Winners will be announced at the annual awards gala on Wednesday, November 10th at the Sheraton Imperial Hotel in Durham, N.C., presented in conjunction with title sponsor Grant Thornton. The theme for this year's event is "0021: Licensed to Excel" and is expected to be attended by more than 600 business and technology leaders from across North Carolina.
"With over half of the electricity Americans depend on is produced by coal burning power plants, our mission is to help reduce their environmental foot print," said Bill McMahon, CEO of CoaLogix. "The environment is at the very foundation of our business and a subject that we are very passionate about", Having NCTA recognize CoaLogix as a finalist for the 'Green Technology Company of the year' provides greater validation our continuing effort. North Carolina is fast becoming an 'energy hub', and CoaLogix is striving to make North Carolina a 'Clean energy hub' destination."
"The finalists for this year's 21 Awards truly represent the best that North Carolina's technology industry has to offer," said Brooks Raiford, president and chief executive officer of NCTA. "CoaLogix has distinguished itself as a company leading the way in innovation, and we are proud to recognize them as a finalist for the Green Technology Company of the year".
The North Carolina Technology Association's mission is "Making North Carolina #1 in Technology and Technology #1 in North Carolina." The organization does this through three main focus areas: executive engagement, public affairs, and enabling member transition to a technology-enabled workforce. For more information, visit our website at www.nctechnology.org.
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