Thanks, Jim!
Here's more of the release...
Tuesday February 2, 8:01 am Eastern Time
Company Press Release
SatCon Technology Corporation Awarded US Navy
Contract for Shipboard Evaluation of Modular Drive
System
- Initial Award of $1 Million -
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Feb. 2, 1999-- SatCon Technology Corporation® (Nasdaq NM: SATC -
news) today announced that the Naval Sea Systems Command notified the Company of a Phase III award for the shipboard
evaluation of the Company's proprietary modular drive system. SatCon's proprietary modular drive system consists of two
components, a modular power conditioning system that provides very clean electrical power conditioning and a variable speed
permanent magnet motor. This novel modular drive is applicable across a broad range of applications on current and future
Navy ships.
''This modular drive concept was the result of a Small Business Innovation Research development program,'' said Dr. James
Kirtley, Vice President and General Manager of the Technology Division. ''The most important result of this program was the
distinct advantages that permanent magnet variable speed drives displayed for auxiliary applications on U.S. Navy ships. The
second finding was the importance of electrically clean drive electronics to enhance the flexibility of the system. In developing an
electrically clean flexible system approach, we were able to standardize on two module sizes, 50 HP and 15 HP, such that we
can accommodate any AC motor or static inverter application in the range of 15 HP to 500 HP. By standardizing the wide
range of present Navy and commercial motor drive systems on two basic power modules, the spares stocking requirements can
be significantly reduced along with operational requirements and maintenance training. In our study of the DDG, LSD, and LHD
class ships alone, we found 867 different motor types which could be replaced by SatCon's 15 HP module.
''This type of product transition, starting from government-sponsored research to provide a solution to the Navy and then with
commercial applications, is the basis of SatCon's development strategy,'' said David Eisenhaure, President and CEO of SatCon.
''Electrification and energy management are undergoing significant structural changes in the world today. SatCon received
funding from Navy sources to solve a technical and logistical problem, and SatCon was able to offer a product-ready solution
which can be manufactured at our Magmotor and FMI subsidiaries. We can then offer this solution to the commercial
marketplace in general. This modular drive system has its roots in the Power Electronic Building Block (PEBB) work we did for
the Navy. It follows on the heels of the $10 million Automotive Integrated Power Module (AIPM) award from DARPA to
develop the standard low-cost power module for hybrid electric and electric vehicles in conjunction with a consortium of the Big
Three auto manufacturers. We think this helps establish SatCon as a key player in power management electronics and drive
systems.'' |
