May 12 2008
Acorn Energy, Inc., announced today that CoaLogix, has obtained the exclusive worldwide marketing rights to Solucorp Industries IFS-2C technology for the capturing and fixation of heavy metals, such as mercury, for the electric power generation industry. Utility companies in the United States face significant pressure from state and federal regulators to reduce the mercury emission of their coal fired generating stations. Solucorp's proprietary technologies, which have been tested and sold commercially in the United States, provide a value-added alternative to carbon injection systems.
Bill McMahon, CEO of CoaLogix, commented: "This is a significant step toward fulfilling our CoalVision 360 goal which has a holistic view of reducing the environmental footprint of coal fired plants. Our products, people and technologies must work side by side on an integrated basis to produce superior results for each of our customers' unique situations. Solucorp's technology has been proven to be cost effective, remediates at point of contact and therefore does not require post capture remediation or disposal of the sorbent as with other technologies. We are delighted to have acquired the license for this technology and look forward to working with our new partners at Solucorp to better serve our customers. We will be marketing this product as IFS-2C a Solucorp proprietary product under the Brand Name Metalfix Hg."
John Moore, CEO of Acorn Energy said, "We are delighted that Solucorp chose to partner with Bill and his team at CoaLogix to expand the commercialization of their mercury and other heavy metals technology. This technology represents over 22 years and tens of millions of dollars of development on the part of Solucorp."
Mike Mattes, VP of Sales of CoaLogix said, "We know that future regulations will require coal fired plants to significantly reduce their mercury emissions. Solucorp's technology captures and fixates harmful mercury by transforming the toxic contaminant into an non-toxic form and provides a further step towards achieving environmentally acceptable coal burning energy plants, our most abundant electric generating fuel source."
Solucorp remarked, "We chose CoaLogix due to the quality of their relationships in the coal fired power plant business, their technical expertise and their entrepreneurial culture. What better people to market our technology than those at CoaLogix with their years of know how and savvy in the energy industry."
Coalogix's right to market the MetalliFix HgO technology is subject to the terms of an agreement between CoaLogix and SoluCorp which includes provisions regarding the license fee and duration of the license.