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The Ministry of Defense of one of the world's largest countries placed the order. The order originated following an evaluation of several competing systems and a tender process. DSIT's state of the art PointShield™ PDDS was selected based on its operational parameters including detection and classification ranges, system size and portability, fully automatic operation and system robustness.
"We have been experiencing a growing interest in our systems from both governmental and commercial customers," said Dan Ben-Dov, DSIT's VP Sales and Marketing, "as those responsible for security of critical maritime assets become more attuned to the threats that abound and the magnitude of the possible damage. This order is of particular importance due to the existing level of sophistication this customer employs in all facets of its security and the large potential for additional orders."
"Our satisfied customers become our partners," commented Benny Sela, DSIT's CEO. "They cooperate by providing DSIT with data for purposes of better system calibration to their own site characteristics and for ongoing overall system improvement. We look forward to adding this important customer to our list of partners."
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. (NASDAQ: ACFN) the digital energy company 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.
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 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.
CONTACTS Dr. Brandy Ben-Yosef Marketing & Business Development Manager DSIT Solutions Ltd. +972 3 531 3333 firstname.lastname@example.org
Investor Contact: Paul Henning Cameron Associates (212) 245-8800 Paul@cameronassoc.com