SATC Satcon Technology Corp. (MM)

SatCon Technology Corporation(R) (Nasdaq NM: SATC), a developer and manufacturer of power electronics and motors for the alternative energy markets, today announced that it has hired Gary G. Brandt, to the newly created role of Vice President, Corporate Development, reporting to David Eisenhaure, Chairman and Chief Executive Officer. Mr. Brandt is the former Chief Financial Officer of Hydrogenics Corporation. Mr. Brandt is a senior business leader with extensive cross-industry and cross-border experience in the alternative energy and telecommunications sectors. From 2001 to 2005, he was CFO of Hydrogenics Corporation, a hydrogen and PEM fuel cell technology company based in Toronto, Canada. During his tenure, the Company completed a fully marketed equity offering that raised US $62 million. As well, the Company completed three acquisitions, including the acquisition of Stuart Energy for US $120 million. Business development initiatives launched during his tenure contributed to a five-fold increase in revenues at Hydrogenics to pro forma US $35 million. Prior to his position at Hydrogenics, Mr. Brandt was CFO of Colorado-based @Link Networks, Inc., a private data networking company. Prior to @Link Networks, Inc. he was Vice President, Investor Relations for WorldCom, Inc. as well as for MFS Communications. Mr. Brandt completed his Bachelor of Commerce (Honors) Degree at Queen's University, Kingston, Ontario and his Masters of Business Administration at York University, Toronto. "This is a tremendous addition to SatCon and an important step forward as we seek to create shareholder value," said David Eisenhaure, SatCon Chairman and Chief Executive Officer. "Gary is a well respected industry leader with a great track record. He has raised capital, overseen mergers and acquisitions, and delivered revenue growth specific to our industry. We will benefit from his energetic presence and his demonstrated expertise in corporate strategy and capital markets relationships. Gary is a recognized leader who can immediately begin to contribute to our corporate development initiatives. I believe our shareholders will be very pleased that we were able to bring such a strong addition to our management team." About SatCon Technology Corporation SatCon Technology Corporation is a developer and manufacturer of electronics and motors for the Alternative 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. 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 be successful in achieving any of the objectives that are stated within the release, and such failure to achieve those objectives could have a material, adverse effect on the future of the Company. 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.