SATC Satcon Technology Corp. (MM)

SatCon Technology Corporation� (Nasdaq CM: SATC), a developer of power management and system architecture solutions for the alternative energy and distributed power markets today announced that, over the past few months, in excess of $1.2 million in orders have been received for on-board vehicle components to support both domestic and international production builds of hybrid electric vehicles and electric vehicles in the off-road vehicle, heavy truck and specialty vehicle market segments. The Company�s products are based on SatCon�s leading technical component capabilities and their systems integration experience in the hybrid and electric vehicle automotive market over the past 10 years. SatCon has extensive capabilities and experience in providing key power systems, such as hybrid and electric drive systems, for various transportation projects including buses, trucks, vans and prototype vehicles. �We were pleased to see that our electric and hybrid electric vehicle business is growing,� said David Eisenhaure, SatCon President and Chief Executive Officer. �We are excited about our progress in becoming a significant supplier into the alternative energy market with our photovoltaic electronics. This continuing growth in our alternative fuel vehicle business is a good complement to that work. We all believe that we need to decrease the nation�s foreign oil dependency. Given that the country uses one-fourth of the world�s oil while possessing only 3 percent of its reserves, underscores for us at SatCon the critical need to develop alternative energy sources and efficiencies.� The company has been providing solutions for hybrid and electric vehicles for over 10 years. In 1992, SatCon entered the vehicle technology business with a groundbreaking development of the power train system for the 750 horsepower Chrysler Patriot Formula One racecar including best-in-class power density technology for power conversion electronics, turbo-alternators, traction motors, and energy storage flywheels. In 1998, SatCon acquired the Westinghouse/Northrop Grumman Electric Vehicle division; an established production manufacturer of hundreds of Chrysler EPIC minivan electric drive train systems and complete electric and hybrid electric conversions for truck and bus applications providing the company with solutions for affordable traction drive systems, DC/DC converters, and battery charging systems. Through SatCon�s continued R&D contracts with the US government Departments of Defense and Energy the company has further advanced its solutions for high power density, efficiency, and low manufacturing cost potential for inverters, DC/DC converters, hybrid PM traction motors, integrated starter/generators, and generators. The company presently has active development contracts with the US Army for pulse chargers, battery chargers, generators, starter/generators, APUs, and associated drive electronics. SatCon, under its Magmotor brand name, has released to production a product line of brushless DC motors and controllers ranging from 0.5hp to 10hp at 300vdc nominal for a variety of electric and hybrid electrical vehicle applications. These on-board vehicle applications include drive systems for power steering, HVAC systems, compressors, pumps and fans. The division also manufactures DC/DC converters for high voltage applications (300vdc nominal to 12 or 24vdc nominal), for further information pertaining to these products contact Peter Morgan at (810) 225-4699 or peter.morgan@satcon.com. For further information regarding technology development needs contact Dennis Mahoney at 888-728-2660 or dennis.mahoney@satcon.com. About SatCon Technology Corporation SatCon Technology Corporation is a developer and manufacturer of electronics and generators/motors for the Renewable 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. (SATC-G) 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 �will,� �intends,� �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.