SatCon Names Gary G. Brandt, Vice President, Corporate Development
January 09 2006 - 7:00AM
Business Wire
SatCon Technology Corporation(R) (Nasdaq NM: SATC), a developer and
manufacturer of power electronics and motors for the alternative
energy markets, today announced that it has hired Gary G. Brandt,
to the newly created role of Vice President, Corporate Development,
reporting to David Eisenhaure, Chairman and Chief Executive
Officer. Mr. Brandt is the former Chief Financial Officer of
Hydrogenics Corporation. Mr. Brandt is a senior business leader
with extensive cross-industry and cross-border experience in the
alternative energy and telecommunications sectors. From 2001 to
2005, he was CFO of Hydrogenics Corporation, a hydrogen and PEM
fuel cell technology company based in Toronto, Canada. During his
tenure, the Company completed a fully marketed equity offering that
raised US $62 million. As well, the Company completed three
acquisitions, including the acquisition of Stuart Energy for US
$120 million. Business development initiatives launched during his
tenure contributed to a five-fold increase in revenues at
Hydrogenics to pro forma US $35 million. Prior to his position at
Hydrogenics, Mr. Brandt was CFO of Colorado-based @Link Networks,
Inc., a private data networking company. Prior to @Link Networks,
Inc. he was Vice President, Investor Relations for WorldCom, Inc.
as well as for MFS Communications. Mr. Brandt completed his
Bachelor of Commerce (Honors) Degree at Queen's University,
Kingston, Ontario and his Masters of Business Administration at
York University, Toronto. "This is a tremendous addition to SatCon
and an important step forward as we seek to create shareholder
value," said David Eisenhaure, SatCon Chairman and Chief Executive
Officer. "Gary is a well respected industry leader with a great
track record. He has raised capital, overseen mergers and
acquisitions, and delivered revenue growth specific to our
industry. We will benefit from his energetic presence and his
demonstrated expertise in corporate strategy and capital markets
relationships. Gary is a recognized leader who can immediately
begin to contribute to our corporate development initiatives. I
believe our shareholders will be very pleased that we were able to
bring such a strong addition to our management team." 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 SatCon website at www.satcon.com.
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. There can be no assurance that the
company will be successful in achieving any of the objectives that
are stated within the release, and such failure to achieve those
objectives could have a material, adverse effect on the future of
the Company. 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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