(RTTNews) - Tuesday, CoaLogix, owned by Acorn Energy, Inc. (ACFN) and EnerTech Capital, said it received over $10 million in new funding commitments. The commitments have been secured from Acorn Energy, Inc., EnerTech Capital Partners III LP, and the CoaLogix management team. The new capital would enable CoaLogix to execute its strategy of expanding its industry-leading holistic, environmental technologies for electric utilities, and continue to grow its US operations.

The funding would also provide the company with the flexibility to consider expansions to enhance CoaLogix's facilities and capabilities.Over $5 million would be used to fund expansion of SCR-Tech's regeneration capability. CoaLogix forecasts that the global regeneration and replacement market would grow significantly for the next several years. In response, CoaLogix has aggressively grown capacity to meet this demand. This funding would enable CoaLogix to fund future expansions, which will include opening new manufacturing facilities.