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 announced
that SatCon Electronics, a wholly owned subsidiary and a designer and
manufacturer of high reliability electronic components recorded a 40%
quarter over quarter increase in Q1 shipments of products used in
alternative energy systems. The Electronics subsidiary utilizes
high-speed surface mount manufacturing capability to build the company’s
proprietary DSP based controller boards which are further integrated
into larger solar and fuel cell inverters produced by SatCon’s
Stationary Power Systems subsidiary.
“Having the internal capability to design and
manufacture the controller electronics is a real competitive advantage
in this rapidly expanding alternative energy market.”
said David Eisenhaure, SatCon President and Chief Executive Officer. “The
Electronics subsidiary also designs and manufactures components and
systems for space flight and satellite applications. This business is
also expanding with new high reliability products introduced over the
last 18 months representing $1.2 million of orders booked in Q1.”
Eisenhaure added, “It is interesting that
alternative energy and aerospace applications have many similarities.
High reliability, extended product life, and ultra high efficiency are
critical elements in servicing both markets. With the Electronics
Division’s long history in high reliability
systems serving the alternative energy market is a natural extension.”
Currently in development are several next generation products scheduled
for release in Q2. These products will target high-end commercial,
industrial, and alternative energy applications. Jack Worthen, SatCon
Electronics President, noted, “After twelve
months in development, we are very excited about releasing an entirely
new product line for the Electronics Division. We have a number of ultra
high efficiency power modules which not only have a significant market
opportunity as stand alone products but will also be integrated into our
next generation system controller electronics for solar and fuel cell
inverters.”
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.