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Meldungen 25.11.2003

25.11.2003: Meldung: SatCon Power Converters selected for Photovoltaic Systems

SatCon Technology Corporation, a manufacturer of electronic power control systems, today announced that Uni-Solar, the leading manufacturer of thin film photovoltaic solar panels and provider of commercial PV roof system solutions, has selected the SatCon PowerGate(TM) Power Converter System for integration into its photovoltaic power generation systems for installations greater than 50-kilowatts. The converters are designed for use with solar power systems to generate electrical power in office buildings, small factories, hotels and similar facilities. SatCon"s Power Converter Systems convert electricity from photovoltaic cells into standard usable electricity.

 

An International Energy Agency (IEA) report on "Trends in Photovoltaic Applications", a Survey report of selected IEA countries between 1992 and 2002, reported that annual module (photovoltaic systems) production rose by over 50 percent in 2002 to 482 Megawatts. At an estimated average installed cost of $7.00 per watt, the annual production rate represents some $3.5 billion dollars in sales globally. Roughly 60 percent of that market represents module costs, which include the cost of power converters. Power Converters typically account for about 15% of the hardware cost of a system. The report also stated that the photovoltaic market has grown at a rate of roughly 35% per year over the past few years. The report Clean Energy Trends 2003, published by Clean Edge Research, estimates that solar photovoltaics (PV) (including modules, system components, and installation) will grow from a $3.5 billion global industry in 2002 to more than $27.5 billion by 2012.

 

"Using the SatCon PowerGate(TM) Power Converter System gives us higher efficiency and lower standby mode losses enabling Uni-Solar"s photovoltaic systems to deliver more net energy," said Allan Gregg, United Solar Ovonic"s (Uni-Solar) director of system engineering and marketing. "Furthermore, the PowerGate(TM) converter has integrated all components required for grid connection, allowing us to reduce our electrical installation cost by as much as 75 percent. The introduction of SatCon"s large converters is timely since we are seeing the majority of market growth in large power installations." "We believe there is a growing market for technology that makes solar energy practical for industrial applications," said David Eisenhaure, SatCon"s president and chief executive officer. "With our next-generation technology, we are well positioned to capitalize on the opportunities presented by the solar photovoltaics market. We believe that the market potential for our 100kW photovoltaic power conditioning system will be significant, and we are pleased that Uni-solar has adopted our power converters for use in its photovoltaic power generation systems."

 

About SatCon Technology Corporation

SatCon Technology Corporation manufactures and sells power control systems for critical military systems, alternative energy and high-reliability industrial automation applications. Products include inverter electronics from 5 kilowatts to 5 megawatts, power switches, and hybrid microcircuits for industrial, medical, military and aerospace applications. SatCon also develops and builds digital power electronics, high-efficiency machines and control systems for a variety of defense applications with the strategy of transitioning those technologies into multiyear production programs. 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 sell any of these converters in production quantities, if at all. 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.

 

SatCon Technology Corporation

Mike Turmelle, 617-661-0540

or

Investor Relations

Aurelius Consulting Group

Dave Gentry, 407-644-4256

Aurelius@cfl.rr.com

www.runonideas.com

 

Source: SatCon Technology Corporation

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