SatCon Delivers Next Generation 250-Kilowatt Power Conditioning Unit to Siemens Westinghouse.

Business/Technology Editors

CAMBRIDGE, Mass.--(BUSINESS WIRE)--June 5, 2002

SatCon Technology Corporation(R) (Nasdaq NM: SATC), a leader in critical powering solutions, announced today that it has shipped a next generation StarSine(TM) 250-kilowatt power conversion system (PCS) to Siemens Westinghouse for use with Siemens' Solid Oxide Fuel Cell (SOFC), which is being developed under a cooperative agreement between Siemens Westinghouse and the U.S. Department of Energy and which is aimed at the stationary distributed power generation market. SatCon shipped its first unit to Siemens last fall and was given another order for an additional two units, the first of which shipped on Monday; the second is scheduled for shipment over the next quarter. The Siemens SOFC and SatCon's StarSine PCS are being combined with a gas turbine to provide high efficiency energy at extremely low emission levels. The system will generate both electrical power and heat and is sized for applications in commercial buildings such as offices, malls, hospitals or industrial complexes.

"This was an important delivery for us," said David Eisenhaure, SatCon's president and chief executive officer. "We had delivered previous units to Siemens but these units are the newer generation and were designed for higher efficiency. We think these deliveries are important because each one indicates a further step in the maturity and commercialization of fuel cells. Today's businesses have a need for 'always-on' electrical power that just can't be delivered by the current electric utility grid and, like SatCon, Siemens is recognizing this need and offering solutions that provide more reliable and environmentally friendly electric power."

SatCon's digital power products include its StarSine PCS, PowerGate(TM) and MegaVerter(TM) power converters, GridLink(TM) utility interface, StarSine 250kW and 2.0MW MegaPower(TM) UPS systems and power electronics and power quality systems. SatCon's systems range in applications up to 100 MW in power. SatCon Digital Power products also include high efficiency motors for industrial automation, RF (radio frequency) wireless communications devices and power chip components.

The SOFC project is a venture between Ontario Power Generation (OPG) and Siemens Westinghouse, the provider of the SOFC technology, and is being undertaken at Kinectrics, a business unit of OPG. The development of specific advanced controls and power conversion equipment for the SOFC applications was partially funded by the National Research Council of Canada under the Industrial Research Assistance Program (IRAP).

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 Electronics 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 integrate SatCon's power systems into the Siemens Westinghouse system, to continue to successfully demonstrate the product or receive any additional orders, the company's ability to manufacture power conversion electronics and control products; developments in the company's business and industry; market conditions; and the inability to gain customer acceptance of the company's products, particularly within the digital power marketplace. 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.