SATC LIST stock news.. SatCon Enters Into Supplier Agreement for Aircraft Ground Power Systems
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 4, 2001--SatCon Technology Corporation® (Nasdaq NM: SATC - news), a leader in power and energy management products, today announced the establishment of a supplier agreement with Controlled Systems. SatCon Power Systems will supply Controlled Systems with frequency converters used in ground power systems for military aircraft. SatCon's frequency converters are currently the only ISO9001 supplied product with UL approval for this industry. These fielded ground power systems, previously supplied under the Inverpower brand name, support several operational military aircraft, including the B-1, B-2, F-117 and F-18 aircraft, as well as helicopter and ground applications.
These power systems provide power to the aircraft while it is on the ground, similar to the power carts used when commercial aircraft are parked at the gate. The new systems, using solid-state technology like SatCon's proprietary DSP inverter based technology, are replacing older systems because they are smaller and more efficient and can handle the power requirements of newer aircraft. SatCon Power Systems will manufacture these frequency converters, which are also being tested for newer commercial aircraft applications.
``It is important for us to establish continuing relationships with customers of our acquisitions,'' stated David Eisenhaure, SatCon's president and chief executive officer. ``We currently have systems on order with Controlled Systems for a total value in excess of $500,000. Controlled Systems is an important customer for SatCon Power Systems' products both now and in the future. We are very pleased that this relationship will continue and provide us with new product opportunities.''
Controlled Systems president, Pat Hodge, states, ``Providing the very best power systems solution to our customers is essential. This impacts reliability, value, maintainability, supportability and mission readiness. Our relationship with this team has been excellent, and they have provided us with the most advanced technology that we could find in North America. Now, with SatCon's added technical depth, our ability to secure long term technology advances in power electronics is further enhanced.''
Controlled Systems is a market leader in providing solid-state 400 Hertz ground power systems to support military aircraft and other assets at Department of Defense locations both in the U.S., at military bases overseas as well as to Allied Forces. Controlled Systems utilizes SatCon's technology to provide power solutions to the Air Force, Army, Navy and Marine Corps and is currently installing SatCon converters in systems being tested for commercial ground power systems.
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 commercial products. 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. Among the important factors that could cause SatCon's actual circumstances or results to differ materially from those implied by such forward-looking statements include the inability to successfully deliver frequency converters already on order, maintain its supplier agreement with Controlled Systems, to successfully demonstrate commercial application, changed market conditions, or unforeseen developments in SatCon's business and industry. 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 SatCon's filings, including, but not limited to, SatCon's Forms 10-K, Forms 10-Q and Forms 8-K. Copies of those filings are available from SatCon and the Securities and Exchange Commission.
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Contact:
SatCon Technology Corporation(R)
Michael Turmelle
617.661.0540
or
PondelWilkinson MS&L
Robert Whetstone or Rosemary Moothart
310.207.9300 |
