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Technology Stocks : SatCon Technology (SATC)

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To: Jim Oravetz who wrote (368)1/3/2001 8:09:35 AM
From: Jim Oravetz  Read Replies (1) of 440
 
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 3, 2001--SatCon Technology Corporation(R) (NasdaqNM: SATC), a leader in power and energy management products, announced today that it has received a second order from its affiliate, Beacon Power Corporation, for 65 units of SatCon's "UPS Suite" of power electronics. SatCon's Power Products Division in Marlborough, Massachusetts will build the units and delivery is scheduled to take place over the next three months. Beacon Power plans to install the electronics as part of its flywheel uninterruptible power supply, or UPS, system.
"We've been working closely with Beacon Power over the past several months developing our "UPS Suite" of power electronics, to be installed in Beacon Power's flywheel energy storage system," said David Eisenhaure, SatCon's President and Chief Executive Officer. "Over the last year, we delivered our first five-piece demonstration order followed recently by the completion of a 35-piece pre-production prototype order. These initial units were designed with an open architecture to allow for modifications during the development of the overall system specifications. Having met those specifications with our pre-production prototype models, these new 65 units will be built to reflect a production representative design. These new units will be built for manufacturability at higher volume levels using our assembly line out at our Marlborough facility. The units will also be designed to be field serviceable, to meet UL certification, and reflect reduced size and cost." snip

Jim
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