SatCon Announces Certification of It's Photovoltaic PowerGate(R) Inverters for Commercial Photovoltaic Applications
25 April 2007 - 10:30PM
Business Wire
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 it has obtained certification of its PowerGate� Inverter
product-line for commercial photovoltaic applications to the new UL
standard coming into effect May 7, 2007. In January of 2006, SatCon
announced certification under the new UL1741 of its innovative
ground fault detection interrupter (patent pending) resulting in
significant savings for installers of photovoltaic systems. This
new certification for the entire product-line is a follow on to
that approval. With SatCon�s continued industry leadership, its
wholly owned subsidiary, SatCon Power Systems Canada is pleased to
report that as of the date of this press release it�s backlog has
grown from the $16 million reported in September of 2006 to over
$21 million today. This backlog has grown while revenues have
increased over 200% to $8.6 million in the last six months of 2006
as compared to the same period of 2005. �Our strategy to focus our
alternative energy business and complementary power distribution
products continues to drive our backlog and revenue growth�, said
Clemens van Zeyl, President of SatCon�s Power Systems subsidiary.
�With approval of our existing product-line to the new UL standard
in hand, our focus will now be on the introduction of our next
generation PowerGate� Inverter designed for increased capacity
while offering additional value added features to our customers�.
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.
Satcon Technology Corp. (MM) (NASDAQ:SATC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Satcon Technology Corp. (MM) (NASDAQ:SATC)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Satcon Technology Corp. (MM) (NASDAQ): 0 recent articles
More SatCon Technology Corporation News Articles