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CHARLOTTE, N.C., July 28
CoaLogix, Inc., announced today that Holly Koeppel, CFO of American Electric Power
Company, Inc. (NYSE: AEP - News) and John Eaves, President and COO of Arch Coal,
Inc. (NYSE: ACI - News), have been elected to the company's Board of Directors. Bill McMahon CEO of CoaLogix, a worldwide leader in environmental services for the
electric utility industry, commented, "We are honored these two prominent industry
veterans have agreed to join our board and support us in the growth of the company.
Both of these executives have been directly associated with high growth companies in
the past and are very familiar with the types of unique situations CoaLogix will address.
It's clearly a testament to our accomplishments that we have senior executives from
one of the largest coal producers and one of the largest coal-fired generators on our
board. I look forward to working closely with them, continuing to build our company." Holly Koeppel is AEP's Executive Vice President and Chief Financial Officer, with
responsibility for finance, corporate accounting, planning and strategy, risk management
and investor relations. Koeppel has more than 20 years of experience managing regulated
and unregulated energy operations. She joined AEP in July 2000 as Vice President-new
ventures for AEP Corporate Development and was named Senior Vice President -
Corporate Development and Strategy in 2002. Prior to that, she was executive vice
president - Commercial Operations, responsible for AEP's wholesale trading and
marketing, structuring and analysis, generation optimization and dispatch, emissions
optimization and compliance, fuel procurement and logistics including AEP's coal
terminal and barging operations. John W. Eaves has been President and Chief Operating Officer of Arch Coal since April
2006. Prior to that time, he served as Arch's Executive Vice president and Chief
Operating Officer from December 2002 until April 2006, and as the company's Senior
Vice President of marketing from February 2000 until December 2002. Mr. Eaves joined
Arch Coal in 1987 and has also held the positions of Vice President of Marketing and
President of Arch Coal Sales during his tenure with the company. He was elected to
Arch's Board of Directors in February 2006 and has also served as a director of ADA-ES
Inc. since October 2003. These additions increase the number of directors on the CoaLogix board to six. In
addition to Koeppel and Eaves, the members of CoaLogix's board include John Moore,
Chairman, President & CEO of Acorn Energy; Rick Giacco, Board member of Acorn
Energy; Scott Ungerer, Managing Partner of EnerTech Capital; and Bill McMahon,
CEO of CoaLogix. About CoaLogix CoaLogix is focused on providing cutting edge services to coal-fired generating facilities
to reduce their environmental footprint through technology, optimization and efficiency
improvements. CoaLogix owns SCR-Tech which is a leading provider of selective catalytic
reduction (SCR) management services and catalyst regeneration technologies used by
coal-fired power plants to reduce nitrogen oxides (NOx) emissions. Currently, coal-fired
power plants contain approximately $1 billion of catalyst in their SCR systems. CoaLogix
also provides a technology named MetalliFix(TM) which captures and remediates mercury
from coal-fired plants. MetalliFix(TM) is expected to provide a more cost effective solution,
with lower capital, disposal and removal costs, than activated carbon technologies.
CoaLogix integrates leading-edge technologies, a highly-skilled workforce, and more than
130 years of combined senior management experience in the environmental and power
generation industries to provide innovative, cost-effective solutions that help our
customers achieve and maintain compliance with increasingly stringent environmental
regulations. CoaLogix is owned by Acorn Energy Inc. and EnerTech Capital. For more
information see www.coalogix.com. About Acorn Energy Acorn Energy, Inc. (Nasdaq: ACFN - News) is a publicly traded holding company with
equity interests in CoaLogix, Coreworx, DSIT and Gridsense. 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. About EnerTech Capital EnerTech Capital is a pioneer in the CleanTech space and has been successfully investing
in energy and clean energy technology companies since 1996. The Firm brings a practical,
proven and seasoned approach to its investment activities while focusing on early to
expansion stage opportunities that dramatically improve the profitability of producing, transporting/transmitting or consuming fuels/power. EnerTech is located in Philadelphia
and Toronto. For more information visit www.enertechcapital.com. Safe Harbor Statement This press release includes forward-looking statements, which are subject to risks and
uncertainties. These risks and uncertainties include competition in the market for catalyst
and regeneration and possible adverse changes in governmental regulations affecting
utilities' need for catalyst. For disclosure of additional risks and uncertainties which may
affect CoaLogix's business and prospects and Acorn Energy, Inc.'s business generally,
see the information under "Risk Factors" in Acorn Energy's most recent Quarterly
Report on Form 10-Q and Annual Report on Form 10-K as filed with the Securities and
Exchange Commission. For more information about CoaLogix, call (704)827-8933, email
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
.
Or visit www.CoaLogix.com.
Press Contact:
Lloyd Swaringer
Marketing Manager
CoaLogix Inc.
704.812.4078
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