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 been awarded a Phase II SBIR 'cost-plus' contract for an integrated motor propulsor (IMP) with the Office of Naval Research (ONR). The total value of the contract is $1.1 Million and will be funded over the term of the project. SatCon will design, fabricate, test, and deliver a complete integrated motor propulsor (IMP) system including motor, controller, and podded propulsor. An IMP enables propulsion for marine vehicles without any mechanical shaft couplings to a power generation source. Final unit delivery and testing at a Navy facility is scheduled for early 2008. "SatCon is pleased to continue our strong relationship with the US Navy," stated SatCon's President and Chief Operating Officer, Millard Firebaugh. "Not only does this contract support our stated strategic initiative to expand our Navy business, but contributes to other product initiatives within SatCon, such as advanced micro-hydro power generation using rim-driven motors. The technology developed as a result of this effort will benefit our hybrid electric vehicle and aerospace offerings for higher power density, higher efficiency electric drive solutions." This propulsor technology expands on machinery research and development conducted at SatCon on low weight permanent-magnet rim-motors for naval underwater propulsor applications, and high power density liquid cooled machinery for hybrid electric vehicle applications. The goal is to advance the state of the art to a power density exceeding 0.6 HP/lb for a complete 50 HP IMP system. This effort supports the Navy's Future Naval Capabilities thrust towards all electric drives and unmanned systems. Podded propulsion systems promise to reduce overall ship system weight, reduce in-hull space claims, and improve overall power conversion efficiency. Furthermore, they enable higher power unmanned underwater vehicle (UUV) applications to increase range and endurance for improved mission effectiveness. The award is another example of SatCon's expertise in electric power conversion systems for vehicle applications. Our permanent magnet machine technologies result in high-efficiency, low weight designs that have demonstrated steady improvement with each design generation. Our power electronics expertise in component packaging, system architecture, and software controls enables us to develop efficient and compact solutions for challenging applications within constrained space and environmental requirements. 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. 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.