SatCon Receives Multi-Million Dollar Order for DC Power Electronics Through Fluor Canada Ltd.; Over 30 MW of Advanced DC Power
August 10 2006 - 7:52AM
Business Wire
SatCon Technology Corporation(R) (Nasdaq NM: SATC), a developer and
manufacturer of power electronic and control products for the
alternative energy and power distribution markets, today announced
that it has received a purchase order, valued in excess of $5
million, issued through Fluor Canada Ltd., acting as representative
for a client. The order is for over 30 MW of Inverpower(TM) DC
power electronics for use in a copper refining process. This order
is not included in third quarter orders on hand reported earlier
today as final terms and conditions are expected to be finalized
within the fourth quarter. Fulfillment of the order is scheduled
over the next year. Fluor Canada Ltd. is a leading consultant in
industrial and power distribution applications. "SatCon, through
its wholly-owned Canadian subsidiary, was the first company in the
world to supply high power DC power electronics using IGBT power
transistor technology. DC power distribution based on power
transistor technology is recognized for its high efficiency and
power quality, and is also a key feature in our alternative energy
inverter products," said Clemens van Zeyl, President of SatCon
Stationary Power Systems. "To-date, SatCon has supplied over 450 MW
of DC power distribution equipment utilizing IGBT technology, more
than any other company in the world." "We are pleased to be working
with world leaders like Fluor Canada Ltd. to supply high quality,
reliable DC power for copper refining," said David Eisenhaure, CEO
and Chairman of SatCon Technology Corporation. "This order
underscores the 'utility-grade' quality of our DC power electronics
and is indicative of the high-quality platform for our alternative
energy initiatives." About Inverpower(TM) Power Delivery Products
Inverpower(TM) power delivery products are designed for the supply
of high precision power with high efficiency and low impact to the
power grid. The Inverpower DC (direct current) power delivery
systems using power transistor (Insulated Gate Bipolar Transistor
or "IGBT") technology was introduced in the late 1990's and is
obtaining increasing acceptance in industrial markets. This
innovative product is built using standard power modules rated over
1 MW each and is one of the building blocks for SatCon's
alternative energy products. SatCon's leading experience in using
this technology for industrial applications places SatCon in a
unique competitive position for MW class alternative energy
systems. 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. (SATC-G) 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 expectations. Additional
information concerning risk factors is contained from time to time
in the Company's SEC fillings. The Company expressly disclaims any
obligation to update the information contained in this release.
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