Satcon Announces Significant International Growth
August 26 2008 - 7:30AM
Business Wire
Satcon (NASDAQ CM:SATC), a leading provider of utility scale
distributed power solutions for the renewable energy market,
announced they will deliver 20MW of the company's industry leading
500 kilowatt (kW) PowerGate Plus� grid -tie commercial photovoltaic
(PV) inverters as part of a new agreement with European utility
Energy 21. Energy 21 is one of Europe�s largest private power
utilities and specializes in renewable energy production, with a
focus on the construction and operation of large scale solar plants
in the Czech Republic and Slovakia. CE Solar, the project
development arm of Energy 21, will deliver and maintain the solar
PV plants beginning in October 2008 with completion in spring 2009.
�Our goal is to create long-term investment opportunities for our
clients by providing clean, reliable energy in a profitable way,�
said Gary Mazzotti, CEO of Energy 21. �That requires technology
partners who can deliver the quality and scale that our large
renewable energy projects demand. We chose Satcon because we
believe they offer the best in class solutions for utility scale
distributed power generation that will ultimately increase our
return on investment from these systems.� Satcon�s optimized Edge�
Maximum Power Point Tracking (MPPT) solution is a key component in
a renewable energy system�s long-term return on investment. All 500
kW PowerGate Plus inverters include Satcon�s next generation Edge�
MPPT, enabling utility scale projects like these by Energy 21 to
maximize power production and significantly increase the overall
efficiency of each system. �Energy 21 is a progressive leader in
the European utility market,� said Steve Rhoades, Satcon�s
President and Chief Executive Officer. �We are proud to have been
chosen as a strategic partner in their continually innovative,
utility scale, renewable energy resource development.� About Satcon
Satcon Technology Corporation (NASDAQ CM: SATC) is a leading
provider of utility scale distributed power solutions for the
renewable energy market, enabling the industry�s most advanced,
reliable and proven clean energy alternatives. For over 22 years,
Satcon has designed and delivered the next generation of efficient
energy systems for solar photovoltaic, stationary fuel cells,
wind-turbines, and energy storage systems. To learn more about
Satcon, please visit www.Satcon.com. About Energy 21 Energy 21 is
an energetic group specializing in the usage of renewable resources
of energy. At present, it focuses on construction and operation of
solar power plants, research and development is in progress in
fields of other resources. Energy 21 owns and runs the biggest
solar power plants in the Czech Republic; in Jaroslavice and in
Hr�dek. By the end of 2008, Energy 21 plans to carry out projects
of approximate size of 10MW in the locality of Southern Bohemia and
Moravia. Czech and foreign investment groups and bank institutes
participate on the realization of the projects. For its projects,
the company chooses entirely sites which have no other effective
utilization at the time. Brownfields are a priority. Starting next
year the company also plans to move towards roofing systems in its
solar projects. Today, Energy 21 is active in the Czech Republic
and Slovakia and in the perspective of one year prepares expansion
abroad into Bulgaria and Israel. Safe Harbor Statements made in
this press release 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, including its Annual Report on Form 10-K and other
periodic reports filed with the SEC. Forward-looking statements
contained in this press release speak only as of the date of this
release. Subsequent events or circumstances occurring after such
date may render these statements incomplete or out of date. The
company expressly disclaims any obligation to update the
information contained in this release.
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