Satcon Technology Corp. (MM) (NASDAQ:SATC)
Historical Stock Chart
From Jul 2019 to Jul 2024
SatCon Technology Corporation® (Nasdaq CM:
SATC), a developer and manufacturer of power systems and technologies
for alternative energy and power distribution, today announced that it
has been awarded a $2.7M Stage 1 contract for an energy storage and
delivery system capable of providing 8 megawatts of power for several
seconds. When the total system is fully implemented the power levels
will be in excess of 20 megawatts. Delivery of this first stage is
scheduled for June 2007. Full value of all three proposed stages is
$6.5M. This system is an adaptation of SatCon’s
high power electronics and energy storage products developed for the
alternative energy and distributed power markets, and is an enabling
element of Solar, Fuel Cell and Wind farm installations.
SatCon’s Chief Executive Officer, Dave
Eisenhaure, stated, "This contract supports our leadership in supplying
power conversion and energy storage products and is consistent with our
role as a system provider in alternative energy applications. These
types of programs allow customers to draw low levels of power from the
grid and then supply large pulses of power for unique applications such
as power outage ride through and grid connected distributed power using
alternative energy sources where sunlight or load variations cause power
drains for brief periods of time while additional systems come on line.
The contract is in addition to the already announced $32 million in
backlog at the end of Q3.”
The award expands on SatCon’s portfolio of
power electronics applications with the development of an integrated
pulse power energy storage system. This technology has direct
applicability to both civilian and military customers.
About SatCon Technology Corporation
SatCon Technology Corporation is a developer and manufacturer of
electronics and motors for the Alternative Energy, Hybrid-Electric
Vehicle, Grid Support, High Reliability Electronics and Advanced Power
Technology markets. For further information, please visit the SatCon
website at www.satcon.com.
(SATC-G)
Statements made in this document that are not historical facts or
which apply prospectively are forward-looking statements that involve
risks and uncertainties. These forward-looking statements are
identified by the use of terms and phrases such as “will,”
“believes,” “expects,”
“plans,” “anticipates”
and similar expressions. Investors should not rely on forward
looking statements because they are subject to a variety of risks and
uncertainties and other factors that could cause actual results to
differ materially from the Company’s
expectation. Additional information concerning risk factors is
contained from time to time in the Company’s
SEC filings. The Company expressly disclaims any obligation to
update the information contained in this release.
SatCon Technology Corporation(R) (Nasdaq CM: SATC), a developer
and manufacturer of power systems and technologies for alternative
energy and power distribution, today announced that it has been
awarded a $2.7M Stage 1 contract for an energy storage and delivery
system capable of providing 8 megawatts of power for several seconds.
When the total system is fully implemented the power levels will be in
excess of 20 megawatts. Delivery of this first stage is scheduled for
June 2007. Full value of all three proposed stages is $6.5M. This
system is an adaptation of SatCon's high power electronics and energy
storage products developed for the alternative energy and distributed
power markets, and is an enabling element of Solar, Fuel Cell and Wind
farm installations.
SatCon's Chief Executive Officer, Dave Eisenhaure, stated, "This
contract supports our leadership in supplying power conversion and
energy storage products and is consistent with our role as a system
provider in alternative energy applications. These types of programs
allow customers to draw low levels of power from the grid and then
supply large pulses of power for unique applications such as power
outage ride through and grid connected distributed power using
alternative energy sources where sunlight or load variations cause
power drains for brief periods of time while additional systems come
on line. The contract is in addition to the already announced $32
million in backlog at the end of Q3."
The award expands on SatCon's portfolio of power electronics
applications with the development of an integrated pulse power energy
storage system. This technology has direct applicability to both
civilian and military customers.
About SatCon Technology Corporation
SatCon Technology Corporation is a developer and manufacturer of
electronics and motors for the Alternative Energy, Hybrid-Electric
Vehicle, Grid Support, High Reliability Electronics and Advanced Power
Technology markets. For further information, please visit the SatCon
website at www.satcon.com.
(SATC-G)
Statements made in this document that are not historical facts or
which apply prospectively are forward-looking statements that involve
risks and uncertainties. These forward-looking statements are
identified by the use of terms and phrases such as "will," "believes,"
"expects," "plans," "anticipates" and similar expressions. Investors
should not rely on forward looking statements because they are subject
to a variety of risks and uncertainties and other factors that could
cause actual results to differ materially from the Company's
expectation. Additional information concerning risk factors is
contained from time to time in the Company's SEC filings. The Company
expressly disclaims any obligation to update the information contained
in this release.