GIVAT SHMUEL, Israel, Aug. 26, 2014 /PRNewswire/ -- DSIT Solutions Ltd., a subsidiary of Acorn Energy, Inc. (NASDAQ: ACFN), announced today that it has received an order for its Underwater Security System to protect a European Nuclear Power facility. The system is expected to be installed on site before the end of 2014.
Dan Ben-Dov, DSIT's Vice President for Sales and Marketing commented, "After establishing itself as the world's leading provider of Underwater Security Systems for the Oil and Gas industry, DSIT is extending its product offering to the Nuclear Power sector. We won this competitive bid because of our significant investment in R&D in the field. As of today there are over 400 nuclear power plant units worldwide and we see high potential for growth in this segment of our business."
Nuclear Power Facilities are especially vulnerable to underwater intrusion and sabotage since most of them have water intakes as part of the nuclear reactor cooling systems. Using such a water-based cooling system, illicit infiltrators may try to swim concealed underwater into the very heart of the protected nuclear power site.
Benny Sela, CEO of DSIT, remarked, "DSIT's nuclear power Underwater Security System will be using the company's PointShield Diver Detection Sonar sensor to automatically detect, track and classify underwater threats such as divers, Swimmer Delivery Vehicles (SDV) and Underwater Unmanned Vehicles (UUV). Our intake underwater security system is specifically tailored to meet the unique requirements of nuclear power plants operators; providing an impenetrable shield against all types of underwater intruders."
DSIT develops and produces sonar applications for the defense, HLS, energy and commercial markets. The company employs a world-class multi-disciplinary team of professionals that are skilled in the latest sonar and real-time technologies. DSIT products include: The Shield family of Diver Detection Sonars, Portable Acoustic Ranges, Underwater Acoustic Signal Analysis systems, sonar simulators and trainers and various other products in this field. DSIT is also in the process of developing innovative Fiber-Optic based sensors. 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—factors which can 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 Systems® supplies fiber optic sensing solutions to increase oil/gas production and lower costs. DSIT provides security solutions from underwater threats to naval and marine based energy assets. For more information visit: http://www.acornenergy.com.
This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that Acorn Energy, Inc. or DSIT will continue to grow their respective businesses, or that either 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 DSIT 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.