Satcon Named the World’s Second Largest Provider of Utility-Scale Inverters by IMS Research
22 June 2011 - 10:30PM
Business Wire
Satcon Technology Corporation® (NASDAQ CM: SATC), a leading
provider of utility-scale power conversion solutions for the
renewable energy market, announced today that it has achieved the
second largest share in the worldwide utility-scale inverter market
for 2010.
Based upon the results from IMS Research’s recently released
World Market for Photovoltaic Inverters 2011 (4th Edition) and its
Q1 2011 PV Inverter Quarterly Market Tracker, Satcon has obtained
commanding positions within the North American and Asian markets,
and has successfully achieved significant growth in Europe.
“Satcon demonstrated significant worldwide gains in 2010,” said
Ash Sharma, Research Director at IMS Research. “It was one of the
biggest market share gainers of all non-European inverter suppliers
in the year and shows a significant increase in worldwide market
share as well as year over year growth.”
Satcon’s successful growth continues into 2011, as reflected in
its May 23, 2011 announcement of Satcon obtaining the number one
market share position in total megawatts shipped for Q1 2011 in the
Americas, and the number two market share position in China and the
rest of Asia.
“2010 was a marquee year for Satcon in which we achieved record
bookings of over 1.1 gigawatts of our utility-ready solar inverter
solutions,” said Steve Rhoades, Satcon's President and Chief
Executive Officer. “Our focus over the past three years has been to
build a world class global organization. Our continued dedication
to product innovation and operational excellence, combined with the
industry’s most widely deployed and proven utility scale solar
technologies, is now the foundation for our successful growth in
all three of the world’s major solar markets.”
About Satcon
Satcon Technology Corporation® is the leading provider of
utility-scale power conversion solutions for the renewable energy
market, enabling the industry’s most advanced reliable and proven
clean energy alternatives. For over 26 years, Satcon has designed
and delivered the next generation of efficient energy systems for
solar photovoltaic, stationary fuel cells, and energy storage
systems. To learn more about Satcon, please visit
www.Satcon.com.
About IMS Research – Photovoltaics
IMS Research is a leading independent supplier of market
research and consultancy to the global electronics industry,
offering syndicated market studies, bespoke research and
consultancy services. The company is one of the most respected
commentators in the renewable energy field, with a particular
expertise in the PV (solar) market. We currently have seven
analysts and a 10-person research team dedicated to researching the
PV market. We now offer over 25 reports and cover every aspect of
the supply chain from polysilicon supply to PV modules, inverters
and PV system integrators. PV@imsresearch.com;
www.pvmarketresearch.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.
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