According to Bill McMahon, CEO of CoaLogix, "This is the second long-term agreement that a major utility company has entered into with SCR-Tech in less than a year. To be selected by a utility such as AEP to perform such a critical environmental service is truly an honor. We expect almost all utilities to include regeneration in their catalyst management strategy to help them be more profitable and efficient in their operations. We will utilize both regeneration plants here in Charlotte to serve this contract."
CoaLogix has proven that regenerated SCR catalyst:
Costs approximately 40% less than new
Has a shorter lead time than new catalyst
Eliminates the burden of land filling used catalyst
Reduces the carbon footprint by 66% in comparison to new catalyst production
To date, CoaLogix has regenerated over 21,000 modules of catalyst, many during actual plant outages. In addition, CoaLogix has over 40,000 MW under contract for catalyst management services. CoaLogix’ NOxAssure program currently consists of over 3,000 modules of plate, honeycomb and corrugated catalyst of various specifications, representing over $30,000,000 of "new value" to coal-fired power plants.
About American Electric Power
AEP ranks among the nation’s largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a nearly 39,000-mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP’s transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP’s utility units operate as
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 also owns CoaLogix Tech which is a provider of SO3 mitigation systems to coal-fired power plants. CoaLogix integrates leading-edge technologies, a highly skilled workforce, and more than 160 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. and EnerTech Capital.
CoaLogix Inc. announced today that its subsidiary, SCR-Tech, LLC, has received a five year blanket contract that establishes provisions for SCR catalyst regeneration for American Electric Power (AEP)’s fleet of units equipped with selective catalytic reduction (SCR) systems. The long-term agreement will enable AEP to optimize its catalyst management program by including regeneration in its catalyst management options. SCR-Tech has already regenerated over 340 SCR catalyst modules for use at two of AEP’s coal-fired power plants. AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP’s headquarters are in Columbus, Ohio.
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
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
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.
For more information about CoaLogix, call (704) 827-8933, email
info@CoaLogix.com. Alternatively, visit www.CoaLogix.com
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