CORRECTING and REPLACING SatCon Announces Certification of Its Photovoltaic PowerGate(R) Inverters for Commercial Photovoltaic A
26 April 2007 - 8:06AM
Business Wire
Second graph, first sentence should read: 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 its backlog has grown from the $16 million reported
in December of 2006 to over $21 million today. (sted 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.) The
corrected release reads: SATCON ANNOUNCES CERTIFICATION OF ITS
PHOTOVOLTAIC POWERGATE� INVERTERS FOR COMMERCIAL PHOTOVOLTAIC
APPLICATIONS Alternative Energy Subsidiary�s Backlog Exceeds $21
Million 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 its backlog has grown from the $16 million reported in
December 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.
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