Commercial Launch of New-Version TransformerIQ® for Large-Scale, Transformer Applications

SACRAMENTO, Calif., Sept. 1, 2011/PRNewswire/ -- GridSense, a subsidiary of Acorn Energy (Nasdaq: ACFN), which develops and markets practical and cost effective monitoring solutions for the electric power industry, today announced the commercial launch of an important new version of the TransformerIQ® monitoring line.  The newest version of TransformerIQ® is more rugged and compact, addressing the needs of large-scale pole top applications at the distribution level, thereby substantially broadening the market for the company's innovative smart grid technology products.

(Photo: http://photos.prnewswire.com/prnh/20110901/NY61329 )

The new version of the TransformerIQ^® is very cost effective and easily installed without shutting off power.  It also is environmentally sealed and uses battery-less technology, which makes it essentially maintenance free for utilities.

Electric utilities need affordable transformer monitoring at the extreme edge of the distribution network.  Pole-top transformers, which service three to four homes, number over thirty million in the US.  In addition, renewable power and extreme load fluctuations are creating new challenges throughout the grid while new installations, such as recharging stations for electric vehicles, are growing rapidly.  With the introduction of the TransformerIQ^® product extensions, GridSense is expanding the market potential from approximately 1 million large and medium transformer installations to a multiple of 30 to 40.

"My dream has been to apply our technology-- typically used for power transformers-- to smaller transformers at the distribution level," stated Kevin Anderson, GridSense engineer and architect behind the TransformerIQ^®.  "Most importantly, the price point of the monitoring system, which represents a fraction of the cost of new transformers, provides utilities the opportunity to extend the useful lives of billions of dollars of aging equipment."  

"Our company is positioned to help utilities transform their grid into a more intelligent, responsive and interactive network," stated Lindon Shiao, CEO of GridSense.  "When we help utilities improve their reliability everybody benefits:  the utilities, the public service commissions and the customers.  This is the true promise of the smart grid."  

GridSense provides utilities with a complete solution including an integrated radio/sensor package, secure communications, graphical user interface, text/email messaging and interface to utility operations enabling new applications and smart grid objectives such as capacity optimization, conservation voltage reduction, power factor correction, power quality monitoring, outage management, power theft monitoring and demand side management    

About GridSense Inc.

GridSense is a smart grid technology company dedicated to providing innovative, practical and cost effective monitoring solutions to the electric power industry.  Utilizing in-depth industry knowledge and understanding of utility requirements, we provide technology and services that help the industry address the limitations of old and aging infrastructure.  We apply experience and technical know-how with new insight and ideas to create intelligent, reliable and leading edge technologies that add value to our customers and shape the future of the modern electrical power system.

About Acorn Energy Inc.

Acorn Energy, Inc. is a holding company focused on technology driven solutions for energy infrastructure asset management.  Our three businesses in which we have controlling interests improve the world's energy infrastructure by making it more secure by providing security solutions for underwater energy infrastructure (DSIT), more reliable by providing condition monitoring instruments for critical assets on the electric grid (GridSense) and more productive and efficient by increasing oil and gas production while lowering costs through use of ultra-high sensitive seismic tools for more precise pinpointing of oil and gas reservoirs (US Seismic).  For more information visit www.acornenergy.com.

Safe Harbor Statement

This press release includes forward-looking statements, which are subject to risks and uncertainties.  These risks and uncertainties include demand and competition in the market for devices and equipment similar to those manufactured by GridSense and OMI, possible uncertainty about GridSense's and OMI's orders from customers resulting from grants by the US Department of Energy and successful integration of OMI into GridSense.  For disclosure of additional risks and uncertainties which may affect GridSense's 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.  

Investor Contact: Paul G. Henning, Cameron Associates, +1-212-554-5462, [email protected]

SOURCE Acorn Energy