Industrial Remote Monitoring & Control Solutions Provider Acorn Hosts Virtual Fireside Chat Monday, Dec. 13th at 11am ET and Meetings Dec. 14th-16th at Lytham Partners Investor Conference
Wilmington, Delaware--(Newsfile Corp. - December 6, 2021) - Acorn Energy, Inc. (OTCQB: ACFN), a provider of remote monitoring and control systems and Internet of Things (IoT) services for stand-by generators, pipelines, air compressors, and other critical industrial equipment, will participate in Lytham Partner's Winter Investor Conference, starting with a management fireside chat video webcast Monday, December 13th at 11am ET. Acorn's CEO Jan Loeb and CFO Tracy Clifford will also be available for virtual 1x1 investor meetings Tuesday, December 14th through Thursday, December 16th.
CEO Jan Loeb commented, "Acorn has a rapidly growing, profitable and cash generating business targeting very large but underpenetrated markets for remote monitoring and control of essential industrial assets such as stand-by generators, gas pipelines and air compressors. We also have technology leadership in the markets we serve. Our solutions deliver substantial cost savings and increased reliability to our customers' mission critical systems, while also providing meaningful business efficiency and environmental benefits. We have a growing base of high-margin, annual recurring monitoring revenue, in addition to hardware monitoring equipment sales, which yield a blended gross margin of over 70%. Moreover, with nearly $2M in cash and no long-term debt we are well positioned to fund our growth initiatives."
Acorn Energy, Inc. owns a 99% equity stake in OmniMetrix, a pioneer and leader in machine-to-machine (M2M) and Internet of Things (IoT) wireless remote monitoring and control solutions for stand-by power generators, gas pipelines, air compressors and other industrial equipment. OmniMetrix’s proven, cost-effective solutions make critical systems more reliable. The company monitors tens of thousands of assets for customers, which include 25 Fortune/Global 500 companies. OmniMetrix solutions monitor critical equipment used by cell towers, manufacturing plants, medical facilities, data centers, retail stores, public transportation systems, energy distribution and federal, state and municipal government facilities, in addition to residential back-up generators.
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