SatCon Technology Awarded $2.0 Million Contract for Power Electronics.Business/Technology Editors CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 30, 1999 SatCon Technology Corporation(R) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM:SATC SATC Sex and the City (HBO series) SATC Software Assurance Technology Center (NASA) SATC Sexual Assault Treatment Center (Broward County, Florida) ), a leader in power and energy management products, today announced that it has been awarded a $2.0 million contract from General Atomics General Atomics is a nuclear physics and defense contractor headquartered in San Diego, California. Among other things, it is the manufacturer of the Predator unmanned aerial vehicle (UAV). to build the power electronics section of an Electromagnetic Aircraft Launch System Electromagnetic Aircraft Launch System (EMALS) is a system under development by the United States Navy to launch aircraft from carriers using a linear motor drive instead of steam pistons, used in conventional aircraft catapults. (EMALS EMALS Electromagnetic Aircraft Launch System ). The contract will be executed over the next 24 months and there is potential for additional revenue. The work will be performed at the Technology Center in Cambridge, with assistance from SatCon's newest subsidiary, SatCon Electronic Power Products. "We're pleased to be recognized for our leadership in the power electronics field," said David Eisenhaure, President and Chief Executive Officer. "Our contract award for this advanced aircraft carrier system demonstrates the technical expertise we have built into all of our power electronics products. This new system will build off the work we have been doing on Power Electronics Building Blocks, or PEBB's, and the power inverter (1) A logic gate that converts the input to the opposite state for output. If the input is true, the output is false, and vice versa. An inverter performs the Boolean logic NOT operation. (2) A circuit that converts DC current into AC current. Contrast with rectifier. work we are doing for fuel cell and microturbine power generation systems. It is also an opportunity to advance the manufacturability of larger power electronics systems for future products that we can offer for applications with high power requirements such as ships, industrial systems and large commercial buildings." SatCon Technology Corporation manufactures and sells power and energy management products for telecommunications, silicon wafer manufacturing, factory automation, aircraft, satellites and automotive applications. SatCon has six operating divisions: Film Microelectronics, Inc. designs and manufactures microelectronic circuits and interconnect products. Magmotor manufactures motors and magnetic suspension systems. Ling Electronics manufactures test equipment, power products, amplifiers and controllers. Beacon Power manufactures flywheel energy storage Flywheel Energy Storage (FES) works by accelerating a rotor (flywheel) to a very high speed and maintaining the energy in the system as rotational energy. The energy is converted back by slowing down the flywheel. devices. SatCon Electronic Power Products manufactures power converters for microturbines, and the Technology Center is responsible for new technology and product development. Statements made in this document that are not historical facts or which apply prospectively are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. It is important to note that the Company's actual circumstances could differ materially from those implied by such forward-looking statements. 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 SEC. |
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