Acorn Energy company gets $1 million order

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US Seismic Systems, Inc., an Acorn Energy, Inc. portfolio company, announced it secured an order worth over $1 million for a one-hundred level Ultra-High Sensitivity fiber optic based sensor system to be used for down-hole seismic imaging and monitoring in the oil and gas industry.

The system will be used to provide improved down-hole seismic imaging of both conventional and unconventional oil and gas fields throughout the United States and Canada.

“With this order we now have a six for seven ratio of customer demonstrations to orders.  The seventh trial was conducted several weeks ago and the potential customer is still evaluating the data,” said Jim Andersen, CEO of US Seismic Systems.

“This order demonstrates the increasing pace of adoption of USSI’s advanced fiber optic seismic sensor technology within the oil & gas industry,” Andersen said.

US Seismic, a company based in California, is eying large market for its technology, due to the growth of hydraulic fracturing “fracking” of natural gas and efforts to extract more oil from old fields.

Acorn Energy, based in Montchanin, Del., buys young companies in energy-related businesses.

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