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Technology Stocks : SatCon Technology (SATC) -- Ignore unavailable to you. Want to Upgrade?

To: dwight martin who wrote (288)	2/19/1999 9:42:00 AM
From: James Mortensen	Read Replies (1) \| Respond to of 440

Friday February 19, 8:00 am Eastern Time Company Press Release SatCon Technology Receives $750,000 Award to Build Miniature Navigation Systems SatCon's miniature navigation systems have potential for automotive, medical, and machining applications. CAMBRIDGE, Mass.--(BUSINESS WIRE)--Feb. 19, 1999-- SatCon Technology Corporation® (NASDAQ:SATC - news) today announced that its Technology Center in Cambridge has been awarded a Small Business Innovative Research (SBIR) Phase II program by the Defense Advanced Research Projects Agency. The award, valued at $750,000, is to build a microfabricated Inertial Navigation System using technology developed by SatCon under a previous Phase I program. ''The advantages of such a microfabricated device are low cost, small size, high reliability, and shock resistance,'' said David Eisenhaure, President and Chief Executive Officer. ''In production quantities, such devices could become key elements of future automobile navigation and suspension control systems. It also has potential in robotics, in-vivo medical applications, high-speed machining and electronic parts placement machines, markets whose customers are familiar to SatCon's FMI and Magmotor Divisions.'' ''The INS will be integrated with its microelectronics to provide the necessary low cost and small size,'' continued Eisenhaure. ''The device could be built in production quantities at our FMI Division, where we build microelectronics for similar applications, and where we are familiar with etching micro devices into substrates, the process whereby the gyroscope is fabricated.'' The microfabricated inertial sensor has a simple design and is inherently resistant to high shock, can be operated with a minimum of electronics, and can be produced at a low cost in high quantities. Its low cost and resistance to shock makes the device attractive for such applications as automobile systems, its high reliability is critical for medical devices, and the combination is a key element for electronics parts machining.