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ACORN ENERGY, INC.

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Dear Friends and Fellow Shareholders:

 

At Acorn we have always believed the key to building successful companies, and thus making our shareholders money, is in anticipating problems in energy markets and solving them before anyone else.

 

The attached cover of the August issue of the Journal of Petroleum Technology highlights precisely the kind challenge and opportunity we have anticipated.  The Journal article focuses on the severe problems that are becoming common in oilfields today.  The article highlights the fact that drillers are working increasingly in higher subsurface temperatures, 150-200C, that create difficult and even impossible challenges for the operation and survival of today’s electronic measurement tools critical for steering the drills.  And the article also highlights the fact that operations are being hampered by severe limits in bringing ever-greater data-streams up from the subsurface using standard slow data transmission technologies. It’s clear that a step change in performance is needed.

 

The answer to both of these problems is found not by trying to change the materials and processes used by today’s electronics industry but rather by completely eliminating the sensitive electronics from the subsurface environment. Acorn Energy is leading the charge in moving the oil industry’s reliance on electronics/copper to photonics/fiber optics subsurface sensor systems.  By completely changing the domain of the technology we solve both the high temperature issue by completely eliminating downhole electronics and collaterally using the fiber optic's inherently high bandwidth data capabilities.  In addition, the fiber-based sensor tools, as you know and as our customers' independent tests have shown, also provides the benefit of being able to "see" farther and more accurately than the legacy electronic systems.  

 

You will recall we recently announced signing a Master Services Agreement and a purchase order with one of the world's largest oil service companies; that win was anchored entirely in solving precisely these problems. We have also signed a Master Service Agreement with one Supermajor oil company. Word is spreading and the momentum is building.

 

I urge you to read this article.  It provides extraordinary detail on why solving the new challenges in the oil fields are so critical to both of our businesses.  

 

Please join us for our shareholder meeting on September 20th at noon at the Union League Club in New York City at 38 E 37th St (please RSVP by replying to this email). If you are unable to attend in person, you can watch a live webcast of the meeting by clicking this link: http://totalwebcasting.com/live/acorn.

 

 

John A. Moore