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Technology Stocks : SatCon Technology (SATC)
SATC 1.5000.0%Nov 5 3:00 PM EDT

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To: Jim Oravetz who wrote (428)3/23/2006 12:52:58 PM
From: Jim Oravetz  Read Replies (1) of 440
 
SatCon Announces Order for HEV Components From Azure Dynamics
March 21, 2006 8:00 a.m.

BOSTON--(BUSINESS WIRE)--March 21, 2006--
SatCon Technology Corporation (NASDAQ NM: SATC), a developer and manufacturer of power electronics and motors for alternative energy markets, today announced that it has been issued a purchase order from Azure Dynamics Corporation for the production of 50 systems for use on hybrid electric vehicles, in a delivery fleet application.

The products to be shipped include a brushless DC motor (rated at 250 - 350 VDC input, 3 Hp), motor controller, and a DC/DC power converter (rated to 120 Amps continuous) which lowers the DC bus voltage from 350 VDC (nominal) to 12 - 14 VDC to power conventional automotive electrical components and systems.

SatCon designs and manufactures a range of high voltage electrical components, subsystems, and systems for power steering applications, fans, pumps, vehicle drives, and alternative power generation sources (dual output alternator, in-line power generator, and similar devices) for electric and hybrid electric vehicle platforms.

"We are pleased to have been selected by Azure Dynamics for this particular project," said Millard Firebaugh, President and Chief Operating Officer. "Azure Dynamics has done an excellent job identifying early adopting markets for alternative electric and hybrid electric technologies. Our technologies and products are a great fit for their particular applications and we look forward to continuing to be an important supplier to Azure Dynamics."

SatCon is actively involved in addressing the technical challenges facing the US automotive industry through its Hybrid Electric Vehicle (HEV) initiatives. The company has a strong HEV track record having provided solutions for both hybrid and electric vehicles for nearly 15 years. In 1992, SatCon entered the vehicle technology business with a 'ground-breaking' development of the power train system for the 750HP Chrysler Patriot -- Formula One racecar. SatCon was recognized for providing 'best-in-class' power density technology for power conversion electronics, turbo-alternators, traction motors, and energy storage flywheels. In late 1999, SatCon acquired the Westinghouse/Northrop Grumman Electric Vehicle division; an established production manufacturer of hundreds of Chrysler EPIC minivan electric drive train systems and complete electric and hybrid electric conversions for truck and bus applications providing the company with solutions for affordable traction drive systems, DC/DC converters, and battery charging systems. Through SatCon's subsequent and continuing R&D contracts with the US Government Departments of Defense and Energy, the company has further advanced its solutions for high power density, high electrical efficiency, and low manufacturing cost potential for inverters, DC/DC converters, hybrid PM traction motors, integrated starter/generators, and generators. The company presently has active development contracts with the US Army for pulse chargers, battery chargers, generators, starter/generators, auxiliary power units, and associated drive electronics.
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