Satcon Technology Corp. (MM) (NASDAQ:SATC)
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SatCon Technology Corporation® (Nasdaq CM:
SATC), a developer of power management and system architecture solutions
for the alternative energy and distributed power markets, today stated,
in accordance with Nasdaq regulations, that its independent auditors
continued their existing "going concern" opinion in the most recently
filed Form 10K. David Eisenhaure, SatCon’s
Chief Executive Officer issued the following statement. "We believe that
our cost cutting initiatives coupled with a redirection to a product
focus in the growing alternative energy and distributed power markets
will lead to increased shareholder value.”
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.