CoaLogix Named 2010 Green Technology Company by North Carolina Technology AssociationNovember 16, 2010 No Comments
SOURCE: PR Newswire
CoaLogix Inc. today announced it has been named as the 2010 Green Technology Company by the North Carolina Technology Association (NCTA) and was recognized at its annual NCTA 21 Awards celebration. The criterion for the award is CoaLogix’ achievement of notable success in the development or production of “green technologies” that have a practical impact on society. The theme for NCTA’s event was “0021: Licensed to Excel” and was attended by more than 800 business and technology leaders from across the state.
The NCTA 21 Awards are recognized as North Carolina’s most prestigious technology awards, celebrating innovation and excellence in North Carolina. This annual showcase honors companies and individuals in 21 categories who represent the best and brightest in technology and business. The 2010 winners are listed on NCTA’s website at:
“On behalf of CoaLogix’ employees and shareholders, we are extremely honored to be this year’s NCTA Green Technology Company, and are proud to be part of an elite group of organizations recognized by the association and industry peers,” said Bill McMahon, CEO of CoaLogix. “This helps solidify and complement our continuing effort to improve the environmental footprint of the coal-fired power generation industry. In addition, being Green Technology Company of the Year helps reaffirm our commitment in helping to make North Carolina a ‘clean energy hub’ destination.”
CoaLogix provides innovative solutions for clean energy production, with a focus specifically on cost-effective emissions control solutions for the coal and gas fired power generation industry. CoaLogix is a leader in SCR catalyst regeneration, a technology used by power plants to reduce nitrous oxide (NOx) emissions. CoaLogix NOxAssure program is an innovative, quick response service to provide power generating utilities SCR catalyst at lower cost and faster turnaround times.
CoaLogix has proven that regenerated SCR catalyst:
- Costs ~ 40% less than new
- Can be available in weeks, not months
- Eliminates the burden of land filling
- Requires 66% less CO2
The North Carolina Technology Association’s mission is “Making North Carolina #1 in Technology and Technology #1 in North Carolina.” The organization does this through three main focus areas: executive engagement, public affairs, and enabling member transition to a technology-enabled workforce. For more information, visit our website at www.nctechnology.org.
CoaLogix Inc. is focused on providing innovative services to coal-fired generating facilities to reduce their environmental footprint through technology, optimization and efficiency improvements. CoaLogix owns SCR-Tech, LLC which is the leading provider of selective catalytic reduction (SCR) management services and catalyst regeneration technologies used by coal-fired power plants to reduce nitrogen oxides (NOx) emissions. Currently, coal-fired power plants contain approximately $1.5 billion of catalyst in their SCR systems. CoaLogix integrates leading-edge technologies, a highly skilled workforce, and more than 180 years of combined senior management experience in the environmental and power generation industries to provide innovative, cost-effective solutions that help our customers achieve and maintain compliance with increasingly stringent environmental regulations. CoaLogix major investors are Acorn Energy, Inc. (Nasdaq: ACFN) and EnerTech Capital.
About Acorn Energy
Acorn Energy, Inc. (Nasdaq: ACFN) is a publicly-traded holding company with equity interests in CoaLogix, Coreworx, DSIT, Gridsense and US Sensor Systems Inc. These companies leverage advanced technologies to transform and upgrade the energy infrastructure around the world. Acorn companies are focused on three problems in the energy sector: improving the efficiency of the energy grid, reducing the risk for owners of large energy assets, and reducing the environmental impact of the energy sector. Acorn’s strategy is to take primarily controlling positions in companies led by great entrepreneurs. For more information visit: www.acornenergy.com.
About EnerTech Capital
EnerTech Capital is a pioneer in the CleanTech space and has been successfully investing in energy and clean energy technology companies since 1996. The Firm brings a practical, proven and seasoned approach to its investment activities while focusing on early to expansion stage opportunities that dramatically improve the profitability of producing, transporting/transmitting or consuming fuels/power. EnerTech is located in Philadelphia and Toronto. For more information visit www.enertechcapital.com.
Safe Harbor Statement
This press release includes forward-looking statements, which are subject to risks and uncertainties. These risks and uncertainties include competition in the market for catalyst and regeneration and possible adverse changes in governmental regulations affecting utilities’ need for catalyst. For disclosure of additional risks and uncertainties which may affect CoaLogix’ business and prospects and Acorn Energy, Inc.’s business generally, see the information under “Risk Factors” in Acorn Energy’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K as filed with the Securities and Exchange Commission.DATA and ANALYTICS