Here is a press release from their web site which hasnt gotten the visibility it deserves....we know there is big time action on this front in California...perhaps an upside surprise will result.
Press Release
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CONTACTS
SatCon Technology Corporation® Investor Relations
Michael Turmelle Dave Gentry
Chief Operating Officer Aurelius Consulting Group
(617) 661-0540 407-644-4256
www.runonideas.com
info@Aureliusconsulting.com
SATCON'S 50 KILOWATT PHOTOVOLTAIC POWER CONVERSION SYSTEM RECEIVES UL-1741 CERTIFICATION
Cambridge, MA -- February 26, 2004 -- SatCon Technology Corporation® (Nasdaq NM: SATC), a manufacturer of electronic power control systems, today announced that its PowerGate AE-PV 50kW photovoltaic Power Conversion System (PCS) has been UL-1741 certified. The unit has also been submitted for approval to the California Energy Commission (CEC) for use on California sponsored projects. The Company has a 100kW PCS which as already been UL-1741 certified and approved by the CEC. Both products are also being submitted to the New York State Energy Research and Development Authority (NYSERDA) to qualify for that state's energy programs.
David Eisenhaure, SatCon's CEO and Chairman, stated: "This certification is another important step in helping SatCon establish itself as the premier provider of Power Conversion Systems for alternative energy technologies."
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. Clean Energy Trends 2003 estimates that the photovoltaic market will grow from a $3.5 billion global industry in 2002 to more than $27.5 billion by 2012.
United Solar Ovonics (Uni-Solar), a leading manufacturer of thin film photovoltaic (PV) solar panels and provider of commercial PV roof system solutions, has agreed to use SatCon as its preferred supplier for 50kW and 100kW PCS's for commercial PV systems worldwide.
"We're seeing an emerging market interest in our PV inverter products," concluded Eisenhaure. "Several PV system integrators and distributors in addition to Uni-Solar have contacted us regarding the product and over 20 systems have already been quoted at a price of $15,000 - $100,000 each."
For more information on ordering these products, 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 |
