SATC Satcon Technology Corp. (MM)

SatCon Technology Corporation(R) (Nasdaq NM: SATC), a developer and manufacturer of power electronics and motors for the alternative energy markets, today announced that two of its utility grade Powergate(R) solar inverters are being utilized as the power conditioning units for the new 502-kilowatt solar electric system installed at New Jersey American Water's Canal Road Water Treatment Plant located in Somerset, NJ. The SatCon PowerGate(R) Series AE-PV inverters convert DC power from the solar array into AC power and connect to the grid at 4160 volts, greatly enhancing the efficiency of the overall system. The PowerGate(R)'s industry-leading high efficiencies enable the site to generate more power, reducing the payback period for the customer. "As part of our overall campaign to reduce energy expenses, now and over time, we are working to keep our costs down, which may enable us to pass those savings on to our customers. In fact, with the rebate from the New Jersey Clean Energy Program, the solar system alone will pay for itself in about 7 years, possibly creating larger savings as the system continues to produce energy for many more years," said Walter Lynch, President of New Jersey American Water. The 502-kilowatt ground mounted system was designed and built by Dome-Tech Solar, Inc., a premier solar energy firm serving industrial and institutional clients in the Northeast. "Dome-Tech Solar is proud to have worked with SatCon to complete this prestigious project," said Tom Kuster, President, Dome-Tech Solar. "New Jersey American Water's corporate vision is driving today's achievement -- installing and activating the largest ground mounted solar energy system in New Jersey. We applaud New Jersey American Water for its long-term view and willingness to take action now to harness clean, renewable energy, reaping benefits today and well into the future for the company and its customers." The system also includes more than 2800 solar panels manufactured by Schott Solar and was officially activated in ceremonies at the site on October 11, 2005. New Jersey American Water expects it will be able to supplement 15% of the peak usage power needed to run the plant with solar energy and save New Jersey American Water approximately $115,000 a year in energy costs. During peak production periods, the electricity produced by the solar system would be enough to meet the average electricity demand of more than 500 New Jersey homes. "We are pleased to have been selected to provide the power conditioning units for this project," stated Millard Firebaugh, President and Chief Operating Office of SatCon Technology. "The PowerGate is a proven, high quality product and is performing exceptionally well in many systems like this around the country." About SatCon Technology Corporation SatCon Technology Corporation is a developer and manufacturer of electronics and motors for the Alternative Energy, Hybrid-Electric Vehicle, Grid Support, High Reliability Electronics and Advanced Power Technology markets. For further information, please visit the new SatCon website at www.satcon.com. About Dome-Tech Solar Dome-Tech Solar is a professional renewable energy company specializing in analysis, design, engineering, development, financing and implementation of solar photovoltaic systems. Dome-Tech Solar offers strength in technical designs as well as expertise in regulatory rebate, project financing and Renewable Energy Credit programs. Driven by competitive financial returns and superior environmental stewardship, Dome-Tech Solar develops and builds renewable energy generation systems for commercial, institutional and industrial clients. Go to www.dometechsolar.com for more information. About NJ American Water New Jersey American Water is the state's largest water utility serving over two million people in 174 communities throughout the state. About Schott Solar Schott Solar Inc. is North America's leading manufacturer and distributor of solar power components and systems, serving customers throughout the Americas from sales offices in California, Massachusetts and the State of Washington. The company's U.S. headquarters and manufacturing facility in Billerica, Massachusetts, produces the largest solar power module available worldwide, the ASE 300(TM). A pioneer in the design and development of complete solar power solutions, Schott Solar Inc. serves a highly diverse market including grid-connected residential and commercial systems, and grid-independent industrial, governmental and utility applications. 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 "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.