SatCon Receives over $2.8 Million in New Fuel Cell Inverter Orders
June 26 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 it has received a purchase order in excess of $2.8 million for
its PowerGate� inverters and electrical balance of plant equipment.
The inverter power system is for use on DFC1500MA� megawatt-class
fuel cells designed and manufactured by FuelCell Energy, Inc.
(NasdaqNM:FCEL). The DFC1500MA� fuel cell currently has a nominal
rating of 1.2 megawatts. Delivery of the PowerGate inverters is
scheduled over the next four to nine months. FCEL is a world
leading developer, manufacturer and supplier of ultra-clean fuel
cell power plants that generate electricity with higher efficiency
than other distributed generation plants of similar size. �This
order represents a clear sign that fuel cell power plants are a
commercial reality, and we are pleased to be supporting FuelCell
Energy with its commercialization program", said Clemens van Zeyl,
President of SatCon Power Systems. "SatCon is committed to FuelCell
Energy�s commercialization program that includes continuous
improvement in costs, delivery and reliability through new
packaging concepts, global sourcing and manufacturing techniques.�
About PowerGateTM Inverters PowerGateTM inverters are designed for
use with alternative energy power systems to generate distributed
electrical power. Distributed, alternative energy power generation
is a growing trend toward the production of clean, reliable power
at the point of use. Alternative energy systems can alleviate
congestion on highly loaded utility electrical distribution
networks and offer an alternative to power line extensions in
remote areas. Many alternative energy power systems require
high-power, high-reliability inverters and controls to convert the
power generated to useable AC power compatible with the electric
power grid. About SatCon Technology Corporation SatCon Technology
Corporation is a developer and manufacturer of power systems
utilizing power electronics, advanced controls and
generators/motors for the Alternative Energy, Power Delivery,
Hybrid-Electric Vehicle, and Grid Support markets. SatCon also
develops and manufactures High Reliability Electronics and Advanced
Power Technologies. 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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