Kitchener, ON, March 25, 2009 – Coreworx Inc., a subsidiary of Acorn Energy, Inc . (NASDAQ: ACFN), announced today that its contract with Fluor Enterprises, Inc. has been extended, thereby reaffirming Coreworx as a key supplier for Fluor's project collaboration and document management applications. Fluor Enterprises, Inc. is a subsidiary of Fluor Corporation, one of the world's largest publicly-owned engineering, procurement and construction services companies.
Fluor engaged Coreworx to help deliver an integrated project collaboration solution to support Fluor's complex project requirements. The solution, branded by Fluor as Projects Online SM, provides Fluor with the ability to securely manage engineering, supplier, subcontractor, and construction documentation on projects around the globe. Projects OnLine SM started as a pilot in 2002 and since then has experienced widespread implementation across Fluor's organization. As of December 2008, 14,000 active users across more than 300 projects in 20 countries were using Projects OnLine SM.
“We've been fortunate to have Fluor's input in the development of our technology and thrilled that they have re-affirmed us as a key supplier,” said Ray Simonson, Coreworx CEO. “The Coreworx solution is the backbone for Fluor's project information control system, and the partnership with Fluor has thus far proven to be successful for both companies.”
Coreworx Inc. provides integrated document control and automated workflow management for mega capital projects in the oil & gas, power and mining sectors. The Coreworx solution is a proven web-based enterprise software system that enables engineering and construction contractors and owner/operators to automate best practices, mitigate business risks and improve performance throughout the entire project lifecycle. Coreworx services a portfolio of projects valued at over $500 billion across more than 50 countries, on more than 400 capital projects with nearly 70,000 users. Coreworx has offices in Houston, Calgary and Kitchener. For more information visit www.coreworxinc.com . Coreworx Inc. is an >Acorn Energy company.
About Acorn Energy
Acorn Energy, Inc. is a publicly traded holding company with equity interests in CoaLogix, Comverge, 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 Fluor Corporation
Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $22 billion in 2008. For more information, visit www.fluor.com
Acorn Energy Inc.