WILMINGTON, Del., Oct. 31, 2014 /PRNewswire/ -- Acorn Energy, Inc. (NASDAQ: ACFN), an energy technology holding company, announced today that Edgar S. Woolard, Jr. has accepted the Board's invitation to serve as a Director. Mr. Woolard will fill the vacancy created by the recent resignation of Andy Sassine.
Mr. Woolard served as chairman and chief executive officer of DuPont from 1989 to 1995 and as chairman until 1997. He was credited with the transformation of DuPont, a highly creative global company. While chairman of Conoco he led its IPO and initiated the company's merger with Phillips Petroleum. He also served on the Boards of the New York Stock Exchange, Inc., Citigroup, Inc., IBM, and Bell Atlantic, Delaware. Ed also served as a director of Apple Computer Inc. and at the time was instrumental in bringing Steve Jobs back to Apple.
Christopher Clouser, Chairman of Acorn Energy stated, "I have been an admirer of Ed Woolard for years as the accomplished and distinguished former DuPont and Conoco Chair. We are honored that he has agreed to serve on the Board of Acorn. He is widely regarded as one of the first "green" CEOs and during his tenure at DuPont cut toxic air emissions by 60%, carcinogens by 75% and hazardous waste by 46%. Ed and I both believe that the lowest risk, lowest cost and highest return investments lie in making the energy sector more productive and cleaner."
"We thank Andy Sassine for his service on the Board," stated Mr. Clouser.
"Acorn's practical approach to and distinctive technologies for solving critical energy infrastructure problems are compelling and hold great promise," said Ed Woolard. "I am pleased and excited to work with Christopher and John and their management teams as they work to achieve their strategic objectives."
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 supplies fiber optic sensing solutions to increase oil/gas production. 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 Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
Investor & Press Contact:
F. Kent Leacock
Acorn Energy, Inc.
Logo - http://photos.prnewswire.com/prnh/20120426/NY96114LOGO
SOURCE Acorn Energy, Inc.