US Seismic Systems, an Acorn Energy Company, Receives an Order for a Permanently Deployed Down-Hole Seismic Fiber-Optic Array for CCS Monitoring From the University of Calgary
CHATSWORTH, Calif., Sept. 4, 2012 /PRNewswire/ -- US Seismic Systems Inc., an Acorn Energy, Inc. (ACFN), (NASDAQ: ACFN) company today announced it has secured another order for their Ultra-High Sensitivity fiber-optic based sensor array.
This array is designed for use by researchers at the University of Calgary's Department of Geoscience for permanent carbon capture and sequestration (CCS) monitoring. CCS refers to technology used to capture CO2 from power plants and other industrial facilities and inject it into deep subsurface geological formations to keep it from entering the atmosphere to combat climate change.
"For this application, the University of Calgary informed us that legacy technology was not suitable due to temperature limitations, cost, and the need for permanent installation. The ability of our Ultra High Sensitivity fiber optic technology to be deployed at a low cost in a permanent installation with a high degree of reliability makes our technology unique in the universe of oil & gas exploration.
"Engaging with thought leaders like Dr. Malcolm Bertrand at the University of Calgary, Earth Sciences Department is a critical component towards ensuring and promoting awareness of our technology on a global scale", said Jim Andersen, CEO of US Seismic Systems.
"We expect that one day every conventional oilfield will be monitored by permanently embedded fiber optic seismic sensors", stated John Moore, CEO of Acorn Energy.
About US Seismic Systems, Inc.
US Seismic Systems Inc. ("USSI"), designs, integrates, manufactures, and sells fiber optic sensing systems and solutions for the Energy and Defense markets. USSI utilizes all-optical fiber sensing technology for its state-of-the-art sensors. USSI's proprietary optical fiber and electronics combine to form the sensor system. It is designed to replace the legacy electronic-based sensor systems at a lower cost and with improved performance and reliability. For more information visit the USSI website www.us-si.com
About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company focused on making energy better by providing digital solutions for energy infrastructure asset management. The four businesses in which we have controlling interests, improve the world's energy infrastructure by making it: more secure - providing security solutions for underwater energy infrastructure (DSIT); more reliable - providing condition-based monitoring to critical assets on the electric grid (GridSense, OmniMetrix) and more productive and efficient - increasing oil and gas production while lowering costs through use of permanent ultra-high sensitive seismic tools that allow for a more precise picture of reservoirs (US Seismic). 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.
Investor & Press Contact:
Paul G. Henning
Howard Wilkinson, VP Sales & Marketing
US Seismic Systems Inc.
SOURCE Acorn Energy, Inc.