DSIT, an Acorn Energy Company, Receives Multiple Recurring Orders for Development and Production
GIVAT SHMUEL, Israel, Sept. 5, 2012 /PRNewswire/ -- DSIT Solutions Ltd., an Acorn Energy, Inc. (ACFN) company, disclosed today the receipt of several recurring orders for development and production from a number of its customers in Israel. The total value of these orders is approximately $1.1 million.
DSIT's Projects Department, headed by VP Projects, Bentzi Gilboa, works closely with both military and semiconductor companies on the development and subsequent production of crucial system components. This recent set of orders comprises components that were developed by DSIT for these companies, some of which are now being ordered for ongoing production.
Bentzi Gilboa commented, "The recurring orders indicate the satisfaction of our customers with the services and products developed and manufactured by our Projects Department. Work on these projects ensures that our team remains at the cutting edge of technology, improving our capabilities to support our in-house Sonar and Acoustics development and activities."
Benny Sela, DSIT's CEO, added, "We view these repeat orders as validation of the quality, innovation and relevance we build into the products for our Israel based customers as well as a vote of confidence; we are pleased to have earned their loyalty."
DSIT develops sonar and acoustic solutions and acts as a system integrator for advanced Security 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: AquaShield" Diver Detection Sonar (DDS), PointShield" Portable DDS, Sonar Simulators and Trainers, MAR Portable Acoustic Ranges, Underwater Acoustic Signal Analysis (UASA) systems, and Sonar Upgrade Programs (SUP). For more information visit www.dsit.co.il
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 it has 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.
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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 its most recent Annual Report on Form 10-K and its most recent 10-Q report as filed by Acorn Energy with the Securities and Exchange Commission.
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