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UNITED STATES : ACFN declares contract order worth of $12.3 million
Publish Date : 14-Dec-2011
Acorn Energy’s 84%-owned DSIT subsidiary received major order from an undisclosed Asian customer. The $12.3 million contract is believed to be the largest order for any underwater security system designed to protect energy infrastructure.
The deliveries are anticipated to start in the fourth quarter of 2011 and span into 2012. It includes a large number of AquaShield Diver Detection Sonar systems and PointShield Portable Diver Detection Sonar systems.
Acorn declared that its fiber optic sensor seismic monitoring system subsidiary, US Seismic Systems (USSI), secured five significant orders for pilot programs from oilfield service and equipment companies, in the second half of 2011.
The contracts could generate $36 million in annual revenues if they transition from development to production. The value of the proof-of concept contracts is approximately $1.6 million.
