14.1.2004: Meldung: SatCon System for Photovoltaics Approval
The converters are designed for use with light industrial and commercial solar power systems to generate electrical power in office buildings, small factories, hotels and similar facilities. SatCon"s PCS converts DC electricity from photovoltaic cells into usable AC electricity. 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.
Chairman and Chief Executive Officer, David Eisenhaure, said: "The approval of our PCS system by the California Energy Commission marks an important milestone for one of our important alternative energy technologies."
Last year, SatCon entered into an agreement with United Solar Ovonics (Uni-Solar) to develop photovoltaic Power Conversion Systems for primary use in commercial roof mounted PV systems. The 50kW and a 100kW PCS designs were part of this initial agreement. Uni-Solar also agreed to use SatCon as its supplier for commercial PV systems worldwide. The PCS"s are designed specifically for applications that are tied to the utility grid.
Uni-Solar, a leading manufacturer of thin film photovoltaic solar panels and provider of commercial PV roof system solutions, currently has a yearly production capacity of 5MW that is being expanded to 30MW. Initial market acceptance for the SatCon PV inverter products appears strong. Several PV system integrators and distributors other than Uni-Solar have also expressed interest in the product. Over 15 systems have already been quoted at a price of $30,000 - $100,000 each.
In North America, several states and provinces have put in place incentive programs to entice users to install alternative energy systems including photovoltaic systems. These incentives include purchase rebates, energy cost rebates, low interest loans, and tax breaks. Both California and New York have set up regulatory bodies to qualify vendors of alternative energy system components.
Products must be listed by these bodies as approved in order for the user to participate in the benefits. The basic requirement for qualification by these bodies is UL-1741 certification. UL-1741 testing assures that a product is compatible and safe to be placed on the utility grid.
For more information, contact Tony Galbraith at SatCon Power Systems in Burlington, Ontario at 905-631-4406.
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(R)
Mike Turmelle, 617-661-0540 or
Aurelius Consulting Group
Dave Gentry, 407-644-4256