SATC Satcon Technology Corp. (MM)

SatCon Technology Corporation(R) (Nasdaq NM: SATC), a developer and manufacturer of power electronic and control products for the alternative energy markets, today announced that it has recently received purchase orders totaling in excess of $1 million for its PowerGate(TM) inverters for use on sub-megawatt and megawatt-class fuel cells designed and manufactured by FuelCell Energy, Inc. (NasdaqNM:FCEL). FCEL is a world leading marketer, developer and manufacturer of ultra-clean power plants that generate electricity with higher efficiency than distributed generation plants of similar size and with virtually no air pollution. The orders include SatCon's next generation PowerGate inverter for FCEL's multi-megawatt fuel cell power plant, the DFC3000, with a current nominal rating of 2 megawatts that is typically sufficient to power approximately 1,000 homes. Delivery of the PowerGate inverters is scheduled over the next four to eight months. "We are pleased to receive this order and excited to continue our supplier relationship with FuelCell Energy with our next generation PowerGate inverter," said David Eisenhaure, CEO and Chairman of SatCon Technology Corporation. "We have provided inverters for FuelCell Energy's sub-megawatt and megawatt fuel cell power plant customer installations since 2003, and this transaction enables us to build on our past successes as they expand their commercialization program to their multi-megawatt product line." "Our orders for high-power PowerGate inverters for alternative energy applications are strong and growing," said Clemens van Zeyl, President of SatCon Stationary Power Systems. "SatCon has sold over 30 megawatts of high-power inverters for stationary fuel cell and photovoltaic applications since it introduced the PowerGate product line in 2003. It is encouraging to see the markets embrace the higher capacity systems which are SatCon's area of specialization." About PowerGate(TM) Inverters PowerGate(TM) inverters are designed for use with alternative energy power systems to generate distributed electrical power. Distributed, alternative energy power generation is a growing trend toward the production of clean, reliable power at the point of use. Alternative energy systems can alleviate congestion on highly loaded utility electrical distribution networks and offer an alternative to power line extensions in remote areas. Many alternative energy power systems require high-power, high-reliability inverters and controls to convert the power generated to useable AC power compatible with the electric power grid. 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 expectations. Additional information concerning risk factors is contained from time to time in the Company's SEC fillings. The Company expressly disclaims any obligation to update the information contained in this release.