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SatCon Granted U.S. Patent for Biological and Chemical Detection System
Company Completes Product Validation Phase, Sets Sights on New Opportunities
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 25, 2001--As a result of research conducted under a contract with the U.S. Army Research Office, SatCon Technology Corporation® (Nasdaq NM: SATC - news) today said the U.S. Patent and Trademark Office has granted Patent No. 09/780,792 which covers the optical signal processing component of the company's biological and chemical detection system. The company also said it has completed the demonstration and validation phase of its advanced biological contamination sensing technology program for the U.S. Army.
As first announced in November 1999, research was initiated at SatCon Applied Technology to develop an optical sensing based system to detect traces of chemical and biologic agents in food and liquids, such as botulism or e-coli and other pathogens, within a very small sample size in near real time. The recently awarded patent covers SatCon's high speed, highly sensitive platform and a method for detecting and/or measuring characteristics of a substance in a sample.
David Eisenhaure, SatCon's president and chief executive officer, said, ``The goal of the program is to develop a portable laptop-sized detection system capable of on-site detection of chemical and biologic agents rapidly and without extensive and time-consuming laboratory analysis. The program was initiated by the U.S. Army Research Office to demonstrate SatCon's evanescent wave biosensing approach in a portable system for detecting contaminants in food and liquids. We have expanded the system to include potential commercial applications as well as for medical testing.'' Eisenhaure said that one of the original non-military applications for which SatCon has been performing feasibility studies is for the detection of contaminants in drinking water supplies such as large reservoirs.
SatCon has several programs under development at its Applied Technology business unit that are supported by government contracts and often have wide applications. With renewed emphasis on real time biological detection, the company believes it may have new opportunities for this technology that will further its product development. Participants in the program include the Massachusetts Institute of Technology, Tufts University and Boston University.
About SatCon Technology Corporation
SatCon Technology Corporation manufactures and sells power and energy management products for digital power markets. SatCon has three business units: SatCon Power Systems manufactures and sells power systems for distributed power generation, power quality and factory automation. SatCon Semiconductor Products manufactures and sells power chip components; power switches; RF devices; amplifiers; telecommunications electronics; and hybrid microcircuits for industrial, medical, and aerospace applications. SatCon Applied Technology develops advanced technology in digital power electronics, high-efficiency machines and control systems with the strategy of transitioning those technologies into products. For further information, please visit the SatCon website at www.satcon.com.
Statements made in this document that are not historical facts or that apply prospectively are forward-looking statements that involve risks and uncertainties. The important factors that could cause SatCon Technology Corporation's (``the company's'') actual circumstances, or results, to differ materially from those implied by such forward-looking statements include the ability to successfully complete, through production, the development of the portable bio-sensing system; the ability to secure additional funding to complete development; the ability to secure customers if a production model is developed; developments in the company's business and industry; market conditions; and the inability to gain customer acceptance of the company's products. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the company's filings including, but not limited to, the 10-K and 10-Q. Copies of those filings are available from the company and the Securities and Exchange Commission.
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Contact:
SatCon Technology Corporation(R)
Michael Turmelle
617.661.0540
or
PondelWilkinson MS&L
Corporate and Investor Relations
Robert Whetstone, Rosemary Moothart
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