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Expansion to help with growing demand for catalyst regeneration
CHARLOTTE, N.C., Dec. 2 /PRNewswire-FirstCall/ -- CoaLogix, owned by Acorn Energy, Inc. (Nasdaq: ACFN), and EnerTech Capital, announced today the completion of an expansion to its SCR-Tech regeneration facility in Charlotte, NC. The expansion will increase the overall efficiency of the facility and more than double its current throughput capacity. This expansion will enable SCR-Tech to meet the growing demands of the catalyst and catalyst regeneration markets.
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SCR-Tech’s technology allows the regeneration of catalyst used in Selective Catalyst Reduction (SCR) used by power coal fired power plants for the reduction of nitrogen oxide. Nitrogen oxides are a large contributor to greenhouse gases and the environmental footprint of coal fired power plants.
Regarding the expansion, CoaLogix’s CEO Bill McMahon commented, “We are fortunate to have customers that value and support our efforts, a strong market and investors that share management’s vision to expand our facilities to meet the growing demand from the SCR users. Today, we have over 10,000 MW of SCR systems under management and this expansion will enable us to better serve both current and new customers.”
“CoaLogix’s SCR Tech Division created the market for regenerated catalyst in the US. They are now benefiting from their years of experience and the almost $1 billion base of installed and soon to be deactivated catalyst in US coal fired plants. This large base of catalyst needing replacement, combined with the substantial savings and equivalent quality of CoaLogix regenerated catalyst versus new, have made this expansion critical as we anticipate our customers near-term needs,” John Moore, CEO and President of Acorn Energy added.
SCRs utilize large amounts of catalyst to carry out nitrogen oxide reduction. Over time this catalyst becomes plugged by and chemically deactivated due to ash and catalyst poisons in the power plant exhaust. SCR-Tech’s proprietary regeneration technology allows the regeneration of this catalyst. Regenerated catalyst achieves original or better than original performance for significantly less than the cost of purchasing new catalyst. Further, regeneration allows SCR owners to forgo the expense and potential liability associated with land filling deactivated catalyst. On average, a 500 MW coal fired plant that does not regenerate will landfill catalyst equivalent to 1,000 automobiles per year.
About CoaLogix
CoaLogix provides cutting edge services to coal fired generating facilities to reduce their environmental footprint through technology, optimization and efficiency improvements. CoaLogix owns SCR Tech which is a leading provider of catalyst regeneration technologies and management services for selective catalytic reduction (SCR) systems used by coal-fired power plants to reduce nitrogen oxide (NOx) emissions. CoaLogix integrates leading edge technologies and a highly skilled workforce with more than 100 years of combined experience in the environmental and power generation industries to provide innovative, cost-effective SCR catalyst management and regeneration services that help our customers achieve and maintain compliance with increasingly stringent NOx regulations. Currently, coal-fired power plants in the United States contain approximately $1 billion of catalyst in their SCR systems, which will need to be replaced or regenerated at some point in its life cycle. CoaLogix also provides its MetalliFixTM technology which captures and remediates mercury emissions from coal fired plants.
About Acorn Energy, Inc.
Acorn Energy, Inc. is a publicly traded holding company focused on improving the efficiency and environmental impact of the energy infrastructure, fossil fuel and nuclear industries. Our operating companies leverage advanced technologies to transform the existing energy infrastructure. Acorn’s strategy is to take primarily controlling positions in companies led by great entrepreneurs and add value by supporting those companies with marketing, strategy and business development. Acorn Energy is a global company with equity interests in CoaLogix, Comverge, Coreworx, DSIT and Gridsense. 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. These risks and uncertainties include (i) competition in the market for catalyst and regenerated, (ii) judicial decisions related to the Clean Air Interstate Rule and possible impact on the market for catalyst, and (iii) possible changes in governmental regulations. For a discussion of risks and uncertainties which may affect CoaLogix’s business and prospects, see the information under "Risk Factors" in Acorn Energy's most recent Annual Report on Form 10-K and under “Recent Developments” in Acorn Energy’s most recent Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission.
CONTACTS:
Lloyd Swaringer
Marketing Manager
CoaLogix Inc.
(704) 812 4078
les@coalogix.com
Julia Davis
Marketing Manager
Acorn Energy Inc.
(302) 656 1707
jdavis@acornenergy.com
SOURCE Acorn Energy, Inc.
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