MONTCHANIN, Del., April 12 /PRNewswire-FirstCall/ -- Acorn Energy, Inc. (Nasdaq: ACFN) an energy technology holding company, announced today that effective April 6, 2010, the company had engaged Friedman LLP as its independent accountants replacing Kesselman & Kesselman, a member of PricewaterhouseCoopers in that role.
John Moore, Chairman & CEO of Acorn Energy said, "We made a change in auditors to move from an Israeli-based to a U.S. based firm which specializes in middle-market companies world-wide. Israel-based DSIT was our platform company and accordingly, we engaged an Israel-based audit firm. Since then we have invested in businesses in Australia, Canada and the U.S. where our headquarters are also located. We believe this change will be both practical and efficient for our company."
About Acorn Energy
Acorn Energy, Inc. 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 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 CoaLogix, DSIT, Coreworx, GridSense or US Sensor Systems will continue to grow their respective businesses or that the Company will achieve the expected consolidated revenue and gross margin in 2010. Factors which may cause results to differ from those forecasted include delays in (i) orders or production, (ii) completion of definitive documentation and closing of the pending acquisition of the portion of GridSense not currently owned by the Company in the coming weeks,(iii) timely completion of CoaLogix' new facility, (iv) completion of Coreworx' acquisition of DDY, and (v) timely development and market acceptance of Coreworx' new software. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
Investor Contact: |
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Paul Henning |
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Cameron Associates |
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(212) 245-8800 |
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SOURCE Acorn Energy, Inc.
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