SATC Satcon Technology Corp. (MM)

Satcon Technology Corporation (NASDAQ CM: SATC), a leading provider of utility scale distributed power solutions for the renewable energy market, today announced the launch of Satcon Solstice�, the industry�s first complete utility grade DC architecture solution for highly efficient power conversion for large scale solar power plants. Solstice revolutionizes energy production, while utilizing traditional solar design. It delivers fine grained power harvesting and control with critical utility ready grid interconnection, and will boost total power production by 5-12 percent over designs using standard inverters.

�As renewable energy moves rapidly toward grid parity and utility scale, return on investment becomes a critical variable in measuring its success,� said Steve Rhoades, Chief Executive Officer of Satcon. �With this breakthrough in power conversion technology, our contribution to the profitability equation grows significantly. Through Solstice, we now offer a complete solution from the solar panels to the grid that will dramatically increase ROI.�

Building on Satcon�s leading solar PV inverter technologies, Solstice is the next generation of solar PV energy harvesting. Coupling string level power conversion with a new smaller footprint central inverter design, Solstice is a complete power solution that will provide high efficiency, localized command and control, and higher kilowatt hours per day. By converting power at each individual string, the solution virtually eliminates typical array losses from shading, soiling and panel mismatching. Solstice is also the company�s first solution with the full suite of utility features and functionality designed by Satcon, which among other benefits, facilitates the role of the inverter in the Smart Grid.

�Our customers have come to count on Satcon to deliver the highest quality and most advanced renewable energy power solutions,� said Dr. Leo Casey, Satcon�s Chief Technology Officer and Vice President of Engineering. �Solstice will enable our customers to deploy solar power plants that will produce more power over the life of the system. Satcon�s vision is distributed power generation based on renewable energy plants providing reliable, dependable assets to utilities. We see the Solstice system as an essential building block in creating the hardware infrastructure of the future Smart Grid.�

Now entering its customer beta cycle, Satcon Solstice will be generally available this fall. For more information, please visit http://www.satcon.com/pv_inverters/solstice.html

About Satcon

Satcon Technology Corporation is a leading provider of utility scale distributed power solutions for the renewable energy market, enabling the industry�s most advanced reliable and proven clean energy alternatives. For over 23 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, wind-turbines, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com.

Safe Harbor

Statements made in this press release 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, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. 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