United States Government Approves SatCon's Rotary Uninterruptible Power Supply System for Government Sales.Business Editors/High-Tech Writers CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 11, 2003 SatCon Technology Corporation(C) (Nasdaq NM: SATC SATC Sex and the City (HBO series) SATC Software Assurance Technology Center (NASA) SATC Sexual Assault Treatment Center (Broward County, Florida) ), SatCon (Nasdaq NM: SATC), a developer and manufacturer of electronic power control systems, today announced that it has received approval from the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. General Services Administration The General Services Administration (GSA) was established by section 101 of the Federal Property and Administrative Services Act of 1949 (40 U.S.C.A. § 751). The GSA sets policy for and manages government property and records. (GSA (1) (Global mobile Suppliers Association, Sawbridgeworth, U.K., www.gsacom.com) A membership organization of suppliers of GSM products and services. Its goal is to promote GSM as the worldwide mobile communications standard. See GSM Association and GSM. ) to sell its Rotary UPS (uninterruptible power supply See UPS. (hardware) Uninterruptible Power Supply - (UPS) A battery powered power supply unit that is guaranteed to provide power to a computer in the event of interruptions in the incoming mains electrical power. ) to the federal government community through the GSA. The GSA is the federal government's procurement expert. They contract for billions of dollars' worth of products and services, securing buildings, products, technology and other essentials for federal agencies. The UPS systems range from several hundred thousand dollars to over $2.0 million, depending on requirements, and are designed to maintain power for critical systems during power outages This is a list of famous wide-scale power outages. 1965
David Eisenhaure, SatCon's president and chief executive officer, said: "This is a very positive development for us. The GSA approval opens new markets for SatCon's next-generation power supply systems. Our UPS products can help federal government maintain power in federal properties such as research facilities, office buildings and military installations regardless of power outages or disturbances. Having them listed with the GSA will expedite our ability to service a large and potentially lucrative marketplace. In addition to our Rotary UPS product, the GSA approval also covers our Static Voltage Regulators An electronic circuit used to maintain a level amount of voltage in an electrical line. It eliminates power surges, spikes and brownouts, which can cause harm to sensitive electronics. A voltage regulator "module" (VRM) is a voltage regulator in a replaceable unit. See surge suppression and UPS. and Static Transfer Switches, two important power control products." SatCon's UPS systems can also be used in factories, hospitals, airports and municipal power systems such as water treatment plants. About SatCon Technology Corporation SatCon Technology Corporation manufactures and sells power control systems for critical military systems, alternative energy and high-reliability industrial automation applications. Products include 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. electronics from 5 kilowatts to 5 megawatts, power switches, and hybrid microcircuits for industrial, medical, military and aerospace applications. SatCon also develops and builds digital power electronics, high-efficiency machines and control systems for a variety of defense applications with the strategy of transitioning those technologies into multiyear production programs. For further information, please visit the SatCon website at www.satcon.com. 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. These forward-looking statements are identified by the use of terms and phrases such as "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. There can be no assurance that the company will receive any orders for its products from the government through this GSA contract. 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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