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Acorn Energy, Inc. reports developments tied to its remote monitoring and control business for critical infrastructure assets. Through its 99%-owned OmniMetrix subsidiary, the company provides wireless monitoring solutions for standby generators, gas pipelines, cell towers, data centers, utility networks, air compressors and other industrial equipment.
Recurring Acorn news includes quarterly and annual operating results, monitoring revenue and hardware revenue trends, gross margin changes, enterprise deployments, demand-response applications for enrolled backup generators, technology partnerships for infrastructure asset management, annual meeting matters and the company’s Nasdaq listing status.
OmniMetrix, a provider of remote monitoring solutions, has partnered with CPower Energy Management to allow its customers to engage in demand response programs. This initiative enables standby generator users to help manage electrical grid demand while earning compensation. CPower manages over 5.3 GW of capacity across the U.S. and provides critical support during peak demand. The partnership offers significant advantages to generator owners and energy users, including recurring revenue opportunities and enhanced reliability during extreme weather.
OmniMetrix, a subsidiary of Acorn Energy, announced a partnership with Power Solutions Specialist to deliver remote monitoring for Briggs and Stratton back-up generators over the next 12 months. This collaboration aims to enhance generator reliability and reduce maintenance costs, especially during emergencies. OmniMetrix reported a 25% increase in gross profit and revenue for the first half of 2021 compared to the previous year. This strategic move is positioned to strengthen OmniMetrix’s market share as it continues to innovate in the IoT sector.
Acorn Energy, Inc. (ACFN), a leader in IoT services for critical industrial equipment, will present at Maxim’s Emerging Growth Virtual Conference on March 18, 2021. The company's OmniMetrix subsidiary specializes in remote monitoring and control systems for generators, pipelines, and air compressors. A video overview will be available for investors on the registration page. Acorn Energy owns a 99% stake in OmniMetrix, which services numerous Fortune 500 companies by monitoring tens of thousands of assets across various sectors.