CoaLogix is 65% owned by Acorn Energy on a fully diluted basis, with the balance stake held by EnerTech Capital and CoaLogix management.
Acorn launched CoaLogix in November 2007 to purchase SCR-Tech and its related entities, the company said.
Acorn initially invested $11m for 100% of CoaLogix and invested an additional $7.2m in CoaLogix for a total investment of $18.2m, in addition to investment from EnerTech Capital Partners and CoaLogix management.
Acorn anticipates that its proceeds from the sale of CoaLogix will be about $61.8m pre-tax.
The deal, which is subject to customary closing conditions, is expected to close within 45 days.
EnerTech Capital Partners founder and managing director Scott Ungerer said this is the second partnership between EnerTech and Acorn Energy both of which have resulted in an early stage energy technology firm being transformed into an explosive category maker worthy of larger, later stage financing.
CoaLogix is engaged in SCR catalyst and regeneration technologies which reduce NOx for coal-fired electric utility power plants.
EnerTech Capital is focused on funding energy ventures and micro-infrastructure projects that address the global opportunity for cleaner, cheaper and more efficient energy usage.
