Published:
Acorn Energy Equity Affiliate Paketeria AG Gets Volksbank Investment
MONTCHANIN, Del., July 1 /PRNewswire-FirstCall/ -- ACORN ENERGY, INC.
(Nasdaq: ACFN), a holding company focused on intelligent energy infrastructure
and restructuring retail electricity markets, today announced that its
Paketeria affiliate inGermany has deepened its partnership with the Volksbank
network this week with the execution by Volksbank Meissen of an agreement to
open 12 "shop-in-bank" locations in Meissen -- two in August and the remaining
ten in the fall. This follows the May opening of "shop-in-bank" pilot stores
in five Volksbank branches in Celle, a suburb ofHanover with a population of
70,000.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080205/NYTU084LOGO )
As part of the agreement, Volksbank Meissen also made a small equity
investment in Paketeria.
Volksbank Meissen's first major promotion will be Stromboerse (100% owned
by Paketeria) services for cost savings on energy and gas.
Remarked Acorn Energy CEO, John Moore: "The investment and 12 shop-in-bank
licenses by Volksbank Meissen is very important, as it follows the early
success of the five pilot stores at Volksbank Celle. We are very impressed at
the speed of Volksbank's management to embrace this opportunity."
"This is another milestone in the development of our shop-in-bank concept.
We are in negotiations with many other Volksbanks and are excited about these
future opportunities for expansion of the shop-in-bank model," said Paketeria
CEO Andy Rosch."
About Paketeria AG
Paketeria is traded on the Frankfurt Stock Exchange under the symbol
a0styl. The "shop-in-bank" service model offers postal services, retail
electricity contracts, internet-terminals, cell phone usage, Ebay agency, copy
and printing services, photo developing, and cartridge refilling.
About Volksbank
Volksbank is a federation of 1,250 independent savings banks with over
14,000 branches and 30 million customers throughoutGermany.
About Acorn Energy, Inc.
Acorn Energy is a publicly traded holding company focused on improving the
efficiency of the energy grid and reducing the environmental impact of the
energy sector. Acorn Energy's operating companies leverage advanced
technologies to transform the existing energy infrastructure. Acorn's
strategy is to take primarily controlling positions in companies led by great
entrepreneurs and add value by supporting those companies with marketing,
strategy and business development. Acorn Energy is a global company with
equity interests in Comverge, CoaLogix, DSIT, Gridsense, Coreworx, Local Power
and Paketeria. For more information visit www.acornenergyinc.com.
CONTACT:
Christianna Miller
Director of Communications
Acorn Energy, Inc.
(302) 656-1707
cmiller@acornenergyinc.com
SOURCE Acorn Energy, Inc.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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