Energy sector portfolio operator Acorn Energy and its subsidiary CoaLogix have secured eight new catalyst regenartion service contracts from US companies in the first two months of 2008, representing over two times CoaLogix's entire 2007 sales.
CoaLogix said that its customers are reducing their environmental footprint and realizing savings by utilizing the company’s selective reduction (SCR) catalyst regeneration service.
By regenerating the catalyst under these contracts, its customers are reportedly recycling a valuable asset and avoiding the land filling of poisoned catalyst.
Bill McMahon, CEO of CoaLogix, said: We are proud to have pioneered the US SCR catalyst regeneration market over the past four years but we are just getting started. To date only 5% of the SCRs in the US have required regeneration of their catalyst versus essentially 100% over the past 10 years in Europe. We expect 70% of the US fleet to require regeneration by 2012.