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June 30, 2014
08:33 EDTACFN, SSNISilver Spring Network, GridSense announce partnership
Silver Spring Networks (SSNI) announced that GridSense, an Acorn Energy (ACFN) company, will integrate the GridSense transformer monitoring solution with Silver Spring’s multi-application networking platform to enable more cost-effective, secure and intelligent transformer monitoring for utilities. The new offering within Silver Spring’s Grid Management solution creates mission critical intelligence for grid operation via the in-depth data captured by the GridSense transformer monitoring solution, resulting in cost savings from use of grid assets and increased operational efficiencies through automation.
News For SSNI;ACFN From The Last 14 Days
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April 23, 2015
08:34 EDTSSNISilver Spring selected for smart grid project in Mexico City
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April 13, 2015
17:35 EDTACFNAcorn Energy subsidiary defaults on $1.48M loan
In a regulatory filing, Acorn Energy reports that its GridSense subsidiary received notice from Square 1 Bank that it has defaulted on its loans. GridSense owes approximately $1.48M and $158,000 under the loan agreement and financing agreement, respectively. Acorn, GridSense and Square 1 have reached a preliminary understanding under which Acorn will pay $500,000, $500,000 will be placed in a restricted cash collateral account, $480,000 balance due will be converted to a term loan payable in 12 monthly installments commencing September, and advances would remain outstanding.

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