SatCon Wins Contract for Refurbishment of Emergency Battery Power Supplies for Advanced SEAL Delivery System.BOSTON -- SatCon Technology Corporation[R] (Nasdaq CM: SATC SATC Sex and the City (HBO series) SATC Software Assurance Technology Center (NASA) SATC Sexual Assault Treatment Center (Broward County, Florida) ), a developer of power management and system architecture solutions for the alternative energy and distributed power markets, today announced that it has been awarded a contract in the amount of $108,600, by Crane Division, Naval Surface Warfare Center Noun 1. Naval Surface Warfare Center - the agency that provides scientific and engineering and technical support for all aspects of surface warfare NSWC , to evaluate, refurbish re·fur·bish tr.v. re·fur·bished, re·fur·bish·ing, re·fur·bish·es To make clean, bright, or fresh again; renovate. re·fur , and test Emergency Battery Power Supplies which are part of the Advanced SEAL Delivery System Advanced SEAL Delivery System (ASDS) is a midget submarine operated by the United States Navy and SOCOM, designed to provide stealthy submerged transportation for special forces, primarily U.S. Navy SEALs, from the decks of nuclear submarines. (ASDS ASDS Advanced SEAL Delivery System ASDS American Society of Dermatologic Surgery ASDS Accunet Spectrum of Digital Services (AT&T) ASDS Advanced Sensor Distribution System ASDS Air Situation Display System ASDS Airborne Serial Data System ). The ASDS is a submersible submersible, small, mobile undersea research vessel capable of functioning in the ocean depths. Development of a great variety of submersibles during the later 1950s and 1960s came about as a result of improved technology and in response to a demonstrated need for designed for the transport of Navy SEALs in a dry environment for clandestine insertion and extraction in support of special operations Operations conducted in hostile, denied, or politically sensitive environments to achieve military, diplomatic, informational, and/or economic objectives employing military capabilities for which there is no broad conventional force requirement. . The Emergency Battery Power Supply is a stand-alone rechargeable battery A rechargeable battery, also known as a storage battery, is a group of two or more secondary cells. These batteries can be restored to full charge by the application of electrical energy. system, which is used to provide sufficient energy for deployment of ballast and operation of emergency communications equipment in the event of a failure of the main vehicle power source. The power supplies to be refurbished were originally designed and built in 1998 by SatCon, and the units have been successfully deployed and reliably operated in the ASDS since that time. The batteries inside of these original power supplies have reached their expected end-of-life, and are due to be replaced. SatCon has been a leader in technology development and solutions for the advanced power conversion market for the past 20 years. Energy storage and management are key technologies in the emerging Alternative Energy and Hybrid-Electric Vehicle markets. This product serves a critical function in this all-electric powered submersible, and highlights SatCon's ability to provide highly reliable power electronics for these types of applications. SatCon's President & Chief Executive Officer, David Eisenhaure, stated, "SatCon is proud of the reliable service that our products have served in support of the ASDS and the US Navy. We are pleased that the Navy has recognized our experience and capabilities in power conversion and energy storage in the award of this contract." About SatCon Technology Corporation SatCon Technology Corporation is a developer and manufacturer of electronics and generators/motors for the Renewable Energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. , Hybrid-Electric Vehicle, Grid Support, High Reliability Electronics and Advanced Power Technology markets. For further information, please visit the SatCon website at www.satcon.com. (SATC-G) Statements made in this document that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the Company's expectation. Additional information concerning risk factors is contained from time to time in the Company's SEC filings. The Company expressly disclaims any obligation to update the information contained in this release. |
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