Satcon® Announces Pricing of Public Offering of Common Stock

Satcon Technology Corporation® (NASDAQ CM: SATC) today announced that it priced a public offering of 9,000,000 shares of its common stock at a public offering price of $3.90 per share on October 21, 2010. Net proceeds to the Company, after deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $32.7 million. The Company anticipates using the net proceeds from the offering for working capital and other general corporate purposes, including research and development, capital expenditures and possibly acquisitions of other businesses, products or technologies. In addition, the Company has granted the underwriter an option to purchase up to an additional 1,350,000 shares of its common stock to cover overallotments, if any. The offering is expected to close on or about October 27, 2010, subject to customary closing conditions.

Jefferies & Company, Inc. is the sole book-running manager for the offering.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the shares under the securities laws of any such state or jurisdiction.

A registration statement relating to the securities described above has become effective by order or rule of the Securities and Exchange Commission (“SEC”). A prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement relating to these securities, when available, may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340 and at [e-mail].

About Satcon

Satcon Technology Corporation is a provider of utility-grade power conversion solutions for the renewable energy market.

Safe Harbor

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 expectations. Such factors include whether the Company will be able to complete the offering of common stock, market conditions, and our ability to fulfill required closing conditions. Additional information concerning risk factors is contained from time to time in the Company’s SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The Company expressly disclaims any obligation to update the information contained in this release.