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CoaLogix Announces the Expansion of CoalVision 360 with its NOxAssureT Program
Charlotte, NC (February 2, 2009) CoaLogix Inc., owned by Acorn Energy, Inc. (NASDAQ: ACFN) and EnerTech Capital, today announced NOxAssureT, a first of its kind fast response catalyst inventory system for the SCR systems in coal-fired power plants. CoaLogix's NOxAssure program currently consists of over 2,000 MW of plate and honeycomb catalyst of various specifications, representing over $15,000,000 of "new value" to power plants. These catalyst are ready for purchase, regeneration and installation to meet specific customer needs.
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NOxAssure is an expansion on CoaLogix's CoalVision 360 strategy which is a blueprint for providing affordable solutions for improving the environmental footprint and efficiency of coal-fired power generation plants. The first initiative under this strategy was to prove the commercial viability of catalyst regeneration. CoaLogix over the past seven years has proven that regenerated catalyst costs 40% less than new, can be available faster than purchasing new catalyst and ultimately reduces the plants' environmental footprint. To date, CoaLogix has regenerated over 11,000 modules of catalyst, many during the actual outages of coal-fired plants.
The announcement of the NOxAssure program could not have come at a better time for utilities. On December 23, 2008 the Clean Air Interstate Rule (CAIR) was reinstated. CAIR mandates that certain utilities run their SCR systems year round. Many utilities have had to modify outage schedules and capital expenditure projects to incorporate the changes that are needed to comply with CAIR. With the reinstatement of CAIR effective January 1, 2009, NOxAssure is an opportunity fo r utilities to comply with the new regulations quickly at a reduced cost.
Bill McMahon, CEO of CoaLogix stated, "NOxAssure is part of our ongoing effort to provide a safety net for power plants that have been caught off guard by the recent reinstatement of CAIR. The requirement to run the SCR 12 months per year in lieu of the 5 month operation will require operation during the cold weather seasons which will have significant consequences for plants in the northern United States. Consequently, with longer operating cycles, SCR catalyst will need to be replaced at least twice as frequently."
About CoaLogix
CoaLogix provides cutting edge 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 catalyst regeneration technologies and management services for selective catalytic reduction (SCR) systems used by coal-fired power plants to reduce nitrogen oxide (NOx) emissions. CoaLogix integrates leading edge technologies and a highly skilled workforce with more than 100 years of combined experience in the environmental and power generation industries to provide innovative, cost-effective SCR catalyst management and regeneration services that help our customers achieve and maintain compliance with increasingly stringent NOx regulations. Currently, coal-fired power plants in the United States contain approximately $1 billion of catalyst in their SCR systems which will need to replaced or regenerated at some point in its life cycle. CoaLogix also provides its MetalliFixT technology which captures and remediates mercury emissions from coal-fired plants. For more information visit www.coalogix.com.
About Acorn Energy, Inc.
Acorn Energy, Inc. is a publicly traded holding company focused on improving the efficiency and environmental impact of the energy infrastructure, fossil fuel and nuclear industries. Our operating companies le verage advanced technologies to transform the existing energy infrastructure. Acorn's strategy is to take primarily controlling positions in companies led by great entrepreneurs and add value by supporting those companies with marketing, strategy and business development.
Acorn Energy is a global company with equity interests in CoaLogix, Comverge, Coreworx, DSIT and Gridsense. 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 (i) competition in the market for catalyst and regeneration, (ii) judicial challenges and decisions related to the Clean Air Interstate Rule, (iii) modification or replacement of the Clean Air Interstate Rule with regulations having a negative effect upon the market for catalyst and regeneration, and (iv) possible changes in other governmental regulations. For disclosure of additional risks and uncertainties which may affect CoaLogix's business and prospects and Acorn Energy's business generally, see the information under "Risk Factors" in Acorn's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K as filed with the Securities and Exchange Commission.
Contact: Lloyd Swaringer CoaLogix Inc. Marketing Manager (704) 812-4068
Julia Davis Acorn Energy, Inc. Marketing Manager +1 (302) 656 1707 jdavis@acornenergy.com
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