SatCon Sees Increased Electric and Hybrid Electric Vehicle Business
March 27 2007 - 7:30AM
Business Wire
SatCon Technology Corporation� (Nasdaq CM: SATC), a developer of
power management and system architecture solutions for the
alternative energy and distributed power markets today announced
that, over the past few months, in excess of $1.2 million in orders
have been received for on-board vehicle components to support both
domestic and international production builds of hybrid electric
vehicles and electric vehicles in the off-road vehicle, heavy truck
and specialty vehicle market segments. The Company�s products are
based on SatCon�s leading technical component capabilities and
their systems integration experience in the hybrid and electric
vehicle automotive market over the past 10 years. SatCon has
extensive capabilities and experience in providing key power
systems, such as hybrid and electric drive systems, for various
transportation projects including buses, trucks, vans and prototype
vehicles. �We were pleased to see that our electric and hybrid
electric vehicle business is growing,� said David Eisenhaure,
SatCon President and Chief Executive Officer. �We are excited about
our progress in becoming a significant supplier into the
alternative energy market with our photovoltaic electronics. This
continuing growth in our alternative fuel vehicle business is a
good complement to that work. We all believe that we need to
decrease the nation�s foreign oil dependency. Given that the
country uses one-fourth of the world�s oil while possessing only 3
percent of its reserves, underscores for us at SatCon the critical
need to develop alternative energy sources and efficiencies.� The
company has been providing solutions for hybrid and electric
vehicles for over 10 years. In 1992, SatCon entered the vehicle
technology business with a groundbreaking development of the power
train system for the 750 horsepower Chrysler Patriot Formula One
racecar including best-in-class power density technology for power
conversion electronics, turbo-alternators, traction motors, and
energy storage flywheels. In 1998, SatCon acquired the
Westinghouse/Northrop Grumman Electric Vehicle division; an
established production manufacturer of hundreds of Chrysler EPIC
minivan electric drive train systems and complete electric and
hybrid electric conversions for truck and bus applications
providing the company with solutions for affordable traction drive
systems, DC/DC converters, and battery charging systems. Through
SatCon�s continued R&D contracts with the US government
Departments of Defense and Energy the company has further advanced
its solutions for high power density, efficiency, and low
manufacturing cost potential for inverters, DC/DC converters,
hybrid PM traction motors, integrated starter/generators, and
generators. The company presently has active development contracts
with the US Army for pulse chargers, battery chargers, generators,
starter/generators, APUs, and associated drive electronics. SatCon,
under its Magmotor brand name, has released to production a product
line of brushless DC motors and controllers ranging from 0.5hp to
10hp at 300vdc nominal for a variety of electric and hybrid
electrical vehicle applications. These on-board vehicle
applications include drive systems for power steering, HVAC
systems, compressors, pumps and fans. The division also
manufactures DC/DC converters for high voltage applications (300vdc
nominal to 12 or 24vdc nominal), for further information pertaining
to these products contact Peter Morgan at (810) 225-4699 or
peter.morgan@satcon.com. For further information regarding
technology development needs contact Dennis Mahoney at 888-728-2660
or dennis.mahoney@satcon.com. About SatCon Technology Corporation
SatCon Technology Corporation is a developer and manufacturer of
electronics and generators/motors for the Renewable 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 �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. The Company expressly disclaims any
obligation to update the information contained in this release.
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