Electric Utility Industry Veteran Alain P. Steven Joins GridSense Board of Directors
SACRAMENTO, Calif., June 18, 2012 /PRNewswire/ -- GridSense, an Acorn Energy (NASDAQ: ACFN) company that develops and markets advanced monitoring solutions for the electric power industry, is pleased to announce that Alain P. Steven has joined its Board of Directors. Steven, an internationally recognized expert in development of large scale real-time IT solutions for the electric power industry, is Co-Founder and Executive Vice President for Viridity Energy, Inc., which provides customized demand-side management and optimization solutions to large energy users. He is also Secretary General of the Very Large Power Grid Operators (VLPGO) Association, a non-profit organization that includes 16 of the world's largest power grid operators.
A physicist and engineer by training, the Belgian-born Steven has held executive positions in the electricity industry for over twenty years. He was CTO at the PJM Interconnection and President of PJM Technologies. Prior to that, he was CEO of Alstom ESCA Corporation, a leading supplier of market management, energy management, distribution management and SCADA systems, and held senior management positions at ABB and Combustion Engineering. He was also Chairman of the University of Washington's Electric Energy Industrial Consortium.
Steven has long been interested in optimizing grid efficiency, which led him to GridSense. "I believe that GridSense provides a key component of the optimization puzzle," he says. "Through monitoring real-time transformer condition at the distribution level, non-invasively and cost-effectively, they offer a critical gateway to optimization from transmission, down to the last mile."
GridSense CEO Lindon Shiao adds, "We are extremely excited to have someone of Alain Steven's stature and experience on our Board. It's a vote of confidence for the GridSense mission of cost-effectively enabling smart grid efficiencies."
About GridSense Inc.
GridSense is a smart grid technology company dedicated to providing innovative, practical and cost effective monitoring solutions to the electric power industry. Utilizing in-depth industry knowledge and understanding of utility requirements, we provide technology and services that help the industry address the limitations of old and aging infrastructure. We apply experience and technical know-how with new insight and ideas to create intelligent, reliable and leading edge technologies that add value to our customers and shape the future of the modern electrical power system.
About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company focused on making energy better by providing digital solutions for energy infrastructure asset management. The four businesses in which we have controlling interests, improve the world's energy infrastructure by making it: more secure - providing security solutions for underwater energy infrastructure (DSIT); more reliable - providing condition-based monitoring to critical assets on the electric grid (GridSense, OmniMetrix) and more productive and efficient - increasing oil and gas production while lowering costs through use of permanent ultra-high sensitive seismic tools that allow for a more precise picture of reservoirs (US Seismic). 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 its most recent Annual Report on Form 10-K and its 2012 First Quarter 10-Q as filed by Acorn Energy with the Securities and Exchange Commission.
Contact: Leonce Gaiter
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