Satcon Announces Three Year 180 Megawatt Agreement with Samsung

  
    
  
  
    
      Satcon Technology Corporation (NASDAQ CM: SATC), a leading provider of 
      utility scale distributed power solutions for the renewable energy 
      market, announced today that it has entered into a three year, 180 
      megawatt agreement with Samsung C&T Corporation, Korea’s largest 
      engineering, construction, trading and investment firm.
    
    
      In addition to supplying Samsung with Satcon PowerGate™ Plus inverters 
      for its own solar power plant development around the globe, this 
      agreement provides Samsung the exclusive right to market and sell Satcon 
      solutions in the rapidly growing Korean renewable energy market. As a 
      certified member of the Satcon Global Service Partner Network, Samsung 
      will also provide full maintenance and warranty service to all Satcon 
      solutions in Korea.
    
    
      “As Samsung’s role in the growing global renewable energy market 
      expands, we continue to develop close partnerships with best in class 
      technology partners like Satcon whose solutions deliver high value 
      returns on many of the world’s largest and most advanced photovoltaic 
      and fuel cell energy plants,” said K.D. Kim, President, Samsung America. 
      “We have worked closely with Satcon on several utility scale solar 
      projects, and we believe they provide the best quality and most reliable 
      power conditioning solutions on the market.”
    
    
      "The combination of Samsung’s strong commercial and service expertise 
      coupled with Satcon’s industry leading solutions will deliver 
      unparalleled value to the large scale renewable energy market,” said 
      Steve Rhoades, Satcon’s President and Chief Executive Officer. 
      “Together, the companies are committed to delivering the industry’s most 
      efficient and reliable renewable energy production. Satcon looks forward 
      to significant growth as a result of this partnership.”
    
    
      Led by the industry’s most field tested and proven large scale, utility 
      grade power conditioning systems, the advanced features offered in the 
      PowerGate™ Plus products have established Satcon as the international 
      standard for large commercial and utility-scale solar PV installations. 
      With 11 PV inverter power ratings, ranging from 30 kilowatts to the 
      recently announced 1 megawatt system, paired with its industry leading 
      utility fuel cell inverter line, Satcon continues to deliver the most 
      scalable and reliable solutions in today’s renewable energy market.
    
    
      About Satcon
    
    
      Satcon Technology Corporation is the leading provider of utility scale 
      distributed power solutions for the renewable energy market, enabling 
      the industry’s most advanced reliable and proven clean energy 
      alternatives. For over 22 years, Satcon has designed and delivered the 
      next generation of efficient energy systems for solar photovoltaic, 
      stationary fuel cells, wind-turbines, and energy storage systems. To 
      learn more about Satcon, please visit www.Satcon.com.
    
    
      About Samsung C&T
    
    
      Founded in 1938, Samsung C&T Corporation is the origin of SAMSUNG GROUP 
      that has developed along with the astonishing growth of the Korean 
      economy. Since its designation in 1975 as Korea’s first-ever General 
      Trading Company, Samsung C&T Corporation has been conducting complex 
      trading and investment operations. With the merger of Samsung E&C in 
      1996, Samsung C&T has now also balanced the two branches of Engineering 
      & Construction Group and Trading & Investment to remain as a world-class 
      enterprise. Samsung C&T Trading & Investment Group is actively engaged 
      in a wide variety of business areas worldwide — energy, industrial 
      materials, and basic materials and machinery to name a few — based on 83 
      overseas operational bases. In addition, the company uses its endeavor 
      to become a global leading company in new & renewable energy industry, 
      maintaining competitiveness through its value-added SCM solutions 
      ranging from raw materials to power plant. Samsung C&T Engineering & 
      Construction Group provides clients with peerless products and services 
      through use of outstanding talent and technology in the 6 core product 
      areas of skyscrapers, high-tech factory facilities, roads and bridges, 
      harbors, power plants and apartment complexes – areas that symbolize 
      advanced construction technology.
    
    
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