Satcon Technology Corp. (MM) (NASDAQ:SATC)
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SatCon Technology Corporation® (Nasdaq CM:
SATC), a developer and supplier of power management and system
architecture solutions for the alternative energy and distributed power
markets, today announced that it has been awarded a subcontract for
$208,000 from North Dakota State University (NDSU) to supply power
conditioning and management for a Micro-Isotope Power Supply being
developed under a contract from the Defense Advanced Research Projects
Agency (DARPA). NDSU's concept produces power directly from the output
of a radioisotope source. In this initial phase, SatCon is to deliver
hardware concept studies and a design, plus limited proof-of-concept
power conditioning hardware, in breadboard form, to work with the
initial battery devices that NDSU is producing.
The intention of the program is to develop a one cubic centimeter
AlphaVoltaic (AV) battery that can deliver 35 milliwatts continuously
for many months to many years. The principle of operation is very
similar to photovoltaics (PV) with the radioisotope the source of energy
rather than the sun and the AlphaVoltaic designed for higher energy
excitation, using wider bandgap materials than photovoltaics. These
types of batteries could be used to power unattended sensors for
applications such as perimeter defense networks, but could also have
broader applications.
With NDSU as the prime contractor, the team is comprised of experts from
Rensselaer Polytechnic Institute, SatCon Technology Corporation,
Battelle Pacific Northwest Division (Pacific Northwest National
Laboratory), and the Naval Research Laboratory.
"SatCon is pleased to be included amongst such an elite team in
developing advanced battery technology,”
stated SatCon's Chief Executive Officer, Dave Eisenhaure. “The
company is poised for substantial growth in alternative energy solutions
and advanced technology for energy and power management. We believe such
development programs will advance the state of the art in energy storage –
critical for the widespread adoption of alternative energy technologies.
This contract underscores our leadership in supplying power conversion
products in a new and growing market for advanced power solutions.”
About SatCon Technology Corporation
SatCon Technology Corporation is a developer and manufacturer of
electronics and generators/motors for the Renewable 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,”
“intends,” “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.