SatCon Awarded $2.5M Phase 2 Contract for Pulse Power Energy Storage and Delivery System
01 May 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 its SatCon Applied Technology division has been awarded an
additional $2.5M contract with a California customer for the next
phase of pulse power equipment capable of providing 8.8 megawatts
of power for several seconds. The total system will have pulse
power capabilities in excess of 18 megawatts. Delivery of the first
stage is scheduled for June 2007 and this new Stage 2 delivery is
scheduled for October 2007. This pulse power application is an
adaptation of SatCon�s high power electronics and flywheel energy
storage products. SatCon�s Chief Executive Officer, Dave
Eisenhaure, stated, "SatCon is pleased to be participating in this
pulse power program. This contract supports leadership in supplying
power conversion and energy storage products. These types of
programs allow customers to draw low levels of power from the grid
and then supply large pulses of power for unique applications.� The
award expands on SatCon�s portfolio of power electronics products
with the development of an integrated pulse power energy storage
system. This technology has direct applicability to both civilian
and government 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
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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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