21.2.2003: Meldung: SatCon Receives $1.2 Million Order
Power conditioning systems are an enabling product for fuel cell power generation systems. These fuel cell systems need high- power, high-reliability electronics and controls to convert their DC power to useable AC power that can then be delivered to the individual user or application. These systems must be utility grid compatible in order to be tied to the existing electric utility grid in order to buy extra energy when needed or, in areas where it is permitted, sell it back to the grid when too much is generated. They will also alleviate congestion on highly loaded utility distribution networks and offer an alternative to power line extensions in remote areas. The market for these specialty fuel cell power conditioning systems and controls will be a new developing market for companies with the onset of the hydrogen economy and broad dissemination of fuel cells.
"We continue to see a great opportunity in distributed power generation," said David Eisenhaure, SatCon president and chief executive officer. "In addition to hydrogen based distributed power generation, we are also working on components for hydrogen-powered cars with domestic and international automobile manufactures and through the Department of Energy with our Advanced Integrated Power Module."
"During his recent State of the Union address, President Bush announced his commitment to increased investment in hydrogen power technology. "A simple chemical reaction between hydrogen and oxygen generates energy, which can be used to power a car producing only water, not exhaust fumes," he said. "With a new national commitment, our scientists and engineers will overcome obstacles to taking these cars from laboratory to showroom so that the first car driven by a child born today could be powered by hydrogen and pollution-free.""
Concluded Eisenhaure, "We believe that a commitment to hydrogen powered cars, hydrogen based distributed power generation and a hydrogen economy will have long-term significant implications to our country by reducing air pollution and dependence on fossil fuels and foreign oil imports as well as result in near-term revenues for SatCon, as evidenced by this recent order."
About SatCon Technology Corporation
SatCon Technology Corporation manufactures and sells critical power products including power systems for distributed power generation; power quality and factory automation; inverter electronics from 5 kilowatts to 5 megawatts; power switches; telecommunications electronics; and hybrid microcircuits for industrial, medical, military and aerospace applications. SatCon also develops advanced technology in 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 deliver the contracted products or secure additional orders for these fuel cell power-conditioning systems, or that the market for fuel cells will develop 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)
Michael Turmelle, 617/661-0540