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SatCon Announces Delivery of 100 kW Solar Inverter for the European Market; Company Comments on California Market Penetration

Posted on: Thursday, 11 May 2006, 18:01 CDT

SatCon Technology Corporation(R) (Nasdaq NM: SATC), a developer and manufacturer of power electronic products for the alternative energy markets, today announced the completion of a key corporate milestone for 2006 - the completion and delivery of the 100 kW solar inverter for the European market. The significance of this delivery is that SatCon is well positioned to participate in the largest market for solar inverters.

"We are excited to be entering the European market with this product," said Clemens van Zeyl, President Power Systems Canada. "Our success in North America has been driven by our market leading efficiencies, simplicity of design and ease of installation for commercial grade inverters ranging from 30kW to 500kW."

SatCon has delivered over 17MW of commercial grade inverters over the past two years and is poised for significant growth as indicated by the pending solar projects in California on the Pacific Gas and Electric website. On this site SatCon has been identified as the inverter provider for 45 MW of pending orders representing over 40 percent of the commercial solar projects submitted for rebates in California.

(http://www.pge.com/docs/word_xls/suppliers_purchasing/ new_generator/incentive/SGIP_Statewide_Data_Apr06.xls)

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"Our success in California underscores the quality of our inverter technology," added Clemens van Zeyl. "This early market traction gives our team the confidence to tackle the larger European market."

About SatCon Technology Corporation

SatCon Technology Corporation is a developer and manufacturer of electronics and motors for the Alternative Energy, Hybrid-Electric Vehicle, Grid Support, High Reliability Electronics and Advanced Power Technology markets. 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 continue to maintain this level of new orders or that it can successfully deliver the components and systems ordered. 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.

Source: Business Wire

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