Satcon Technology Corp. (MM) (NASDAQ:SATC)
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SatCon Technology Corporation (NASDAQ NM: SATC), a
leading developer and manufacturer of power control electronics today
announced that its first deliveries of its new line of hybrid electric
auxiliary components have been incorporated into Azure Dynamics
Corporation's (TSX: AZD, AIM: ADC) electric and hybrid electric
vehicles ("HEVs").
SatCon President & COO Millard Firebaugh stated "The HEV market
sector is a prime area of focus for SatCon and we are very pleased
that our components are being utilized in Azure's vehicles".
Azure Dynamics is a world leader in the development and production
of hybrid electric and electric commercial and military vehicles and
systems. The company estimates it has over 25 million miles of vehicle
experience. Azure Dynamics' operations are based in North America and
Europe.
Azure Dynamics is currently working internationally with various
partners and customers including Purolator Courier Ltd., Canada Post,
DHL, the US Department of Defense, United States Postal Service,
Smiths Electric Vehicles, Leyland Product Development, Renault Trucks
UK, and London Taxis International. Azure Dynamics Corporation is a
public company trading on the TSX (AZD) in Canada and on AIM (ADC) in
the UK. For more company information please visit
www.azuredynamics.com.
SatCon has introduced a line of components and service
capabilities targeted at supporting the fast growing hybrid electric
vehicle markets. The company currently provides traction motors,
controllers, and converters as well as design services, and system
integration capability for the hybrid electric vehicle market. The
Company's products are based on SatCon's leading technical component
capabilities and their systems integration experience in the hybrid
and electric vehicle automotive market over the past 15 years. SatCon
has extensive experience in providing key systems in such projects as
the Patriot Race car, the Chrysler EPIC Minivan, and the GM/Opel Fuel
Cell Car.
About SatCon Technology Corporation
SatCon Technology Corporation is a developer and manufacturer of
power electronics and control systems for alternative energy,
high-reliability industrial automation applications and critical
military systems. For further information, please visit the SatCon
website at www.satcon.com and contact:
SatCon Power Systems
Peter Morgan
7 Coppage Dr
Worcester, Mass., USA 01603
810.225.4699
peter.morgan@satcon.com
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 "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. There can be no assurance that the company will continue
to maintain this level of new orders or that it can successfully
deliver the components and systems ordered. 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.