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GIVAT SHMUEL, Israel, June 4, 2014 /PRNewswire/ -- DSIT Solutions Ltd., an Acorn Energy, Inc. (NASDAQ: ACFN) company, disclosed today the receipt of several follow-on orders for development and production from a number of its customers in Israel. The total value of these orders is approximately $3.4 million. The projects involve both hardware and embedded software.
Benny Sela, CEO of DSIT commented about the orders, "We are always pleased to see our efforts rewarded with customer satisfaction and the return of customers with whom we have ongoing relationships. Customers that work with us find that we meet or beat our deadlines with first-rate solutions to their needs. These orders leverage our technology and experience gained in previous projects with these customers."
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.
Bentzi Gilboa commented, "These system development and production orders are the fruit of the continuous efforts of our multidisciplinary engineering team in delivering cutting edge technological solutions to our customers, and indicate their satisfaction with the services and products developed and manufactured by DSIT. Our team continuously improves as a result of close cooperation with our customers, and in-depth understanding of their requirements."
Mr. Sela, added, "We view repeat orders from existing customers 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 and produces sonar applications for the defense, HLS, energy and commercial markets. The company employs a world-class multi-disciplinary team of professionals that are skilled in the latest sonar and real-time technologies. DSIT products include: The Shield family of Diver Detection Sonars, Submarine Detection Sonars, Portable Acoustic Ranges, Underwater Acoustic Signal Analysis systems, sonar simulators and trainers and various other products in this field. For more information visit: www.dsit.co.il.
About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company whose four portfolio companies help their customers achieve greater productivity, reliability, security, and efficiency - factors which can lead to greater profitability. GridSense® provides monitoring for all critical points along the electricity delivery system. OmniMetrix™ remotely monitors emergency back-up power generation systems to increase their reliability. US Seismic Systems® supplies fiber optic sensing solutions to increase oil/gas production and lower costs. DSIT provides security solutions from underwater threats to naval and marine based energy assets. 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 the Company's most recent Form 10-K filed by the Company with the Securities and Exchange Commission.
DSIT Solutions Ltd.
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