GIVAT SHMUEL, Israel, Sept. 22 /PRNewswire/ -- DSIT Solutions Ltd., a subsidiary of Acorn Energy, Inc. (Nasdaq: ACFN), announced today that it has received orders from an Asian country for its underwater sonar systems. The combined value of the contracts is more than $6 million.
Dan Ben-Dov, VP Sales & Marketing said, "This is the second order of this magnitude that we have received over the past few months, as we continue to grow our leading position in the worldwide market for specialty sonar systems in terms of total value of sales. More importantly the order reflects our expanding customer base of government authorities, navies, security integrators and energy companies."
"As a greater sense of attention and urgency is brought to bear on terminal security, DSIT continues to experience growing demand for our sonar and acoustic products," said Benny Sela, CEO of DSIT. "These orders significantly increase our backlog and, coupled with our active pipeline, positions us for a solid performance in 2010 and into 2011."
John Moore, CEO of Acorn Energy stated, "This order is another testament to the value we are creating for shareholders and customers through our vision to improve and protect the world's energy infrastructure by making it more intelligent."
About DSIT
DSIT develops sonar and acoustic solutions and acts as a system integrator for advanced Security and Safety Command and Control systems. The Company's offerings are designed to provide the latest in technology and its intelligent application for the energy, commercial, defense and homeland security markets. The Company's offerings include: PortView Harbor Surveillance System (HSS), AquaShield™ Diver Detection Sonar (DDS), Sonar Simulators and Trainers, Mobile Acoustic Ranges (MAR), Underwater Acoustic Signal Analysis (UASA) systems, and Sonar Upgrade Programs (SUP). For more information visit www.dsit.co.il
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.
Safe Harbor Statement
This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that DSIT or Acorn Energy, Inc. will continue to grow their respective businesses, execute the initiatives described above or meet the expectations described above. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally and the businesses of its subsidiaries is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
CONTACTS |
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Dr. Brandy Ben-Yosef |
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Marketing & Business Development Manager |
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DSIT Solutions Ltd. |
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+972 3 531 3333 |
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Investor Contact: |
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Paul Henning |
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Cameron Associates |
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(212) 245-8800 |
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SOURCE Acorn Energy, Inc.
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