GIVAT SHMUEL, Israel, March 11, 2013 /PRNewswire/ -- DSIT Solutions Ltd., an Acorn Energy company (NASDAQ: ACFN), announced today the receipt of multiple orders from an undisclosed Navy for a number of AquaShield™ Underwater Security systems. The orders totaling $3.2M are for immediate production and delivery.
The customer has been using the DSIT AquaShield™ Diver Detection Sonar (DDS) and PointShield™ Portable Diver Detection Sonar (PDDS) systems for protection of the country's critical assets for a number of years. This round of orders is designed to further broaden their already existing tight maritime security.
The AquaShield™ underwater surveillance solution includes automatic detection, tracking and classification for both scuba and closed circuit divers. The main customers for the systems are navies, homeland security agencies, oil and gas (O&G) companies, nuclear power facilities, port authorities, as well as yachts and coastal homes of the mega-rich. DSIT is currently in the process of deploying what is considered by many to be one of the world's largest O&G underwater security projects.
"We regard this Navy as one of our most important customers," said Dan Ben-Dov, DSIT's VP Sales & Marketing. "We are well aware of their very strict operational requirements and performance standards. Obtaining this repeat order, which comes following their use of DSIT's underwater port security systems for several years, reveals their high level of satisfaction. DSIT is committed to continue its efforts to keep and improve our customer's satisfaction."
The additional units will be supplied throughout 2013 for deployment at various coastal sites and offshore installations.
Benny Sela, President and CEO of DSIT, commented, "Our customers are convinced that it is no longer sufficient to protect coastal and offshore assets solely from land and air intrusion. The underwater venue is the perfect cover for the stealthy approach of threats, and it is essential to guard against this danger. The customer understands that deployment of these additional AquaShield™ underwater perimeter security systems will further strengthen the country's underwater defenses."
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), PointShield™ Portable DDS, Sonar Simulators and Trainers, Mobile Acoustic Ranges (MAR), and Underwater Acoustic Signal Analysis (UASA) systems. For more information visit: www.dsit.co.il.
About Acorn Energy, Inc. Acorn Energy, Inc. is a holding company whose four portfolio companies help their customers achieve greater productivity, reliability, security, and efficiency—all of which lead to greater profitability. GridSense—provides monitoring for all critical points along the electricity delivery system. OMNIMETRIX-remotely monitors emergency back-up power generation systems to increase their reliability. US Seismic—supplies fiber optic sensing solutions to increase oil/gas production and lower costs. DSIT—provides security solutions from underwater threats to marine based energy assets. 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 Acorn Energy, Inc. or its operating companies will continue to grow their respective businesses, or that any of them will meet the expectations or execute the initiatives described or referred to 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 and its most recent 10-Q as filed by the Company with the Securities and Exchange Commission.