SatCon Announces 3.2 Megawatts in Orders for Photovoltaic Inverters
05 May 2006 - 2:45AM
Business Wire
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 received multiple
purchase orders from four new customers for 13 commercial grade
inverters equaling 2.3 megawatts (MW), including an order from one
of the largest photovoltaic integrators in North America. In
addition, a customer that has been operating a trial unit issued a
follow-on purchase order for 3 commercial grade inverters totaling
0.9 MW. These photovoltaic inverters trade named PowerGate(TM) are
scheduled for delivery prior to the end of the current fiscal year.
"Our reputation for high quality PowerGate(TM) inverters seems to
be spreading," said Clemens van Zeyl, President, SatCon's Power
Systems Canada Division responsible for Alternative Energy
products. "It is very encouraging to see our customer base in the
sector continuing to grow and it is very rewarding to see that our
emphasis on high-efficiency commercial grade inverters is being
embraced by our customers." In addition, David Eisenhaure, SatCon's
Chairman and Chief Executive Officer stated, "With our growing
customer base, we are expecting our revenues from photovoltaic
inverters to approach twenty percent of our total corporate
revenues for the current fiscal year, up from approximately ten
percent in the prior year." 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.
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