Press Release

02.12.08

Acorn Energy Subsidiary DSIT Announces Strategic Contract Wins

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Montchanin, Delaware – February 12, 2008 – Acorn Energy, Inc. (NasdaqGM: ACFN) today announced that its DSIT Solutions Ltd. subsidiary has been awarded two development projects valued at over $0.5 million by a major defense integrator. These projects involve the integration of subsystems developed by DSIT into systems built by the customer. Each of the projects involve contractual options or other opportunities to expand the projects in the future.

The projects take advantage of DSIT's experience in the field of Command, Control and Communication (C3), as the company continues to invest significant resources in the development of C3 systems. These two new projects are the latest of many such projects for many commercial and military customers employing DSIT’s expertise in state-of-the-art naval systems and advanced telemetry systems.

According to Benny Sela, CEO of DSIT, "The award of these projects to DSIT represents the continuation of a long tradition of successful collaboration between the company and major commercial and defense companies in various areas of endeavor. This long term collaboration includes development and implementation of advanced software and embedded software/hardware subsystems for integration in our customers’ systems."

John A. Moore, CEO of Acorn Energy, DSIT's parent company, commented: "C3 systems are at the heart of the new architecture of energy. Comverge was born and nurtured in DSIT’s broad and deep expertise in C3 and embedded systems. The award of these new contracts allows us to continue to develop and expand our capabilities in this space and provide a basis for our continuing to exploit business development opportunities for C3 systems in the energy field."

About DSIT

DSIT is a software solutions provider specializing in defense and energy solutions. DSIT’s AquaShield® sonar technology allows owners of fossil fuel infrastructure assets such as oil rigs, pipelines, and oil terminals to protect their investments at a small fraction of their replacement cost. DSIT has established itself as a leader in the field of threat detection for underwater energy infrastructure and has won the first contract for such an installation. For more information visit www.dsit.co.il.

About Acorn Energy, Inc.

Acorn Energy specializes in acquiring and accelerating the growth of emerging ventures that promise improvement in the economic and environmental efficiency of the energy sector. Acorn aims to take primarily controlling positions in companies led by great entrepreneurs and add value by supporting those companies with branding, positioning, strategy and business development. Acorn Energy is a global company with equity interests in Comverge, the leading clean capacity provider of energy solutions through demand response; CoaLogix, Inc. and its subsidiary, SCRTech LLC, the leading provider of catalyst regeneration technologies and services to reduce NOx emissions by fossil-fuel power plants; Paketeria AG, a German super services provider; and DSIT, software solutions provider specializing in defense and energy solutions. In addition, Acorn holds interests in Local Power, Inc., the creator of Community Choice Aggregation, a revolution in renewable power and retail markets for electricity, and GridSense Systems Inc., an industry leader in providing remote monitoring and control systems to electric utilities and industrial facilities worldwide. For more information visit www.acornenergyinc.com.

Safe Harbor Statement

This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that the company will be able to successfully identify and exploit business development opportunities for C3 systems in the energy field complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.