SatCon Technology - Power For The Next Millennium - 500 Beiträge pro Seite
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Feedback
SatCon liefert die elektrischen Komponenten, welche benötigt werden, um Energie zu verarbeiten. Dies ist vor allem bei Brennstoffzellen notwendig, welche von Ballard Power, Plug Power und anderen hergestellt werden.
Man profitiert hier also indirekt vom Milliardenmarkt der Brennstoffzellentechnologie.
Business Overview
SatCon Technology Corporation manufactures and sells power and energy management products for several applications including: on-site power generation using fuel cells and micro-turbines; telecommunications; silicon wafer manufacturing; factory automation; aircraft; satellites; and automotive applications. As we approach the new millennium, the demand for energy and power is ever increasing, and while the demand increases, environmental, economic and regulatory concerns are pressuring for new, cleaner methods of power generation and usage. Today, SatCon is building the products that will be critical components of these new power generation systems. In distributed power, for example, natural gas will be piped into neighborhoods and industrial complexes and used to power fuel cells, micro-turbines, or other devices that will locally generate power. SatCon`s power electronics building blocks would then convert this power to useable electricity. These same electronics modules are the basis of SatCon`s new advanced integrated power modules that decrease the size and lower the cost of electric, hybrid-electric, and fuel cell vehicle controllers that distribute and manage on-board electricity. SatCon is also building products that use this power more efficiently. Its high efficiency motors and drive systems are increasing throughput in industrial machinery without increasing energy costs. Its "Powersmart" electronics components are designed to do more with the power available, and its flywheel energy storage systems provide energy storage for back-up power that replaces environmentally hazardous lead-acid batteries. Whether it`s electronic components that power the Internet or integrated motor and suspension systems that manufacture silicon wafers, SatCon is at the forefront of developing and manufacturing power management products that help our world operate more efficiently and cleanly.
Market Overview
SatCon`s markets are extensive. Since power and energy management bridges every market, SatCon`s products have significant market potential. Energy consumption is costly and older methods of generation are environmentally unfriendly. New methods of power generation are being introduced that will use SatCon power electronics building blocks to convert locally generated power into useable electricity. SatCon`s products are also key components in reducing energy consumption in several markets such as: Telecommunications, where smaller, faster and more efficient electronics devices are needed as the Internet and other telecommunications increase. Factory automation, from silicon wafers to automobile manufacturing, where increased throughput and lower production costs are critical to long term corporate profits. Cable television and telephony where power management is critical to maintaining uninterrupted services from telephones to the Internet. Energy management is also critical in applications for aircraft and satellites, and in automobiles that are increasingly becoming electrified to handle intelligent driving systems and other new options, and even in electric, hybrid-electric and fuel cell vehicles that many believe will be the future of personal transportation.
Milestones and Key Developments
On February 1st, SatCon announced that it will build fuel cell power converters for H-Power, among whose strategic investors is Duquesne Enterprises who is also a strategic investor in SatCon.
On January 20th, SatCon announced that it will build fuel cell power converters for Northwest Power Systems a division of IDACORP, the parent company of Idaho Power.
On January 12th, 2000 the Company renamed HyComp to the Advanced Fuel Cell Power Products Division to handle the manufacturing, distribution and service of its fuel cell power converters for on-site power generation.
On December 7th, SatCon`s Power Electronics Products Division in Maryland (formerly of Northrop Grumman) introduced a new line of Micro-turbine Line Power Units that couples with a micro-turbine to provide on-site power generation using natural gas. The units are directed at the larger industrial and commercial size market.
On December 1st, SatCon subsidiary, Ling Electronics announced the introduction of a new standard power inverter line for use with Fuel cell, micro-turbine and photovoltaic power generation systems. Also since the acquisition, combined Ling and SatCon efforts had resulted in $1.8 million in new orders for standard Ling products.
On November 17th, SatCon acquired the power electronics business unit from Northrop Grumman. The group builds complete power conversion and control systems for micro-turbines, hybrid electric vehicles and fuel cell systems. This group built the hybrid drive system for Chrysler`s Epic hybrid-electric minivan.
On October 22nd, SatCon entered into a strategic alliance with Mechanical Technology, Inc. SatCon acquired Ling Electronics from Mechanical Technology and received $7,000,000 in cash and 100,000 warrants to purchase Mechanical Technology common stock. In exchange Mechanical Technology received 1,800,000 shares of SatCon common stock. Mechanical Technology is the parent company of Plug Power for whom SatCon is building power inverters for on-site fuel cell power generation systems. The fuel cell systems will be sold to residential customers in the year 2001 and will be distributed and serviced by General Electric.
On September 15th, Applied Materials released a press release that identified SatCon as an enabling technology for its new Radiance Centura System. SatCon provides an integrated suspension and motor (ISAM) system for Applied Materials RTP system. More information on the ISAM can be found at www.magmotor.com.
On August 26th, SatCon announced a $8 million dollar private placement of Series A Convertible Redeemable Preferred Stock. The investment will be used to support SatCon`s manufacturing expansion efforts.
On June 10th, FMI announced that it had been selected by Hughes Electronics Corporation`s Network Systems to design the substrate circuitry for the RF amplifier section of its new SpacewayTM user terminals. SpacewayTM is a global broadband satellite network that provides affordable, high-bandwidth and high-speed communications for broadband, Internet and multimedia applications. Hughes is investing $1.4 billion in the new system.
On May 3rd, Beacon Power announced that it had successfully completed the first phase field testing of its flywheel uninterruptible power supply, (UPS), systems for telephone and cable television applications. The systems have successfully operated for over 1,800 continuous hours.
Strategy and Growth
SatCon`s strategy is based on the same strategy successfully implemented by other MIT companies. That is to advance technology in response to a market need, then transition that technology from its Tech Center into new products that are produced by its manufacturing divisions or spin-off Subsidiaries.
The transition to a new generation of products being developed by SatCon is being fueled by a combinations of market demand for higher performance and improved efficiency and by the potential to satisfy those needs made possible by advances in materials and electronic technologies.
It is the company`s strategy to accelerate its technological developments by continuing to expand its externally funded contract and research and development from both government and commercial sources and to acquire manufacturing capabilities to support its product development efforts and product line expansion. The Company believes that this funding can be used to develop products that can be sold to government agencies and transitioned into viable commercial products. In most instances, individual components have multiple applications across multiple markets.
Operations
SatCon Technology Center, located at the Company`s headquarters near MIT in Cambridge, MA is the technology engine that drives the development of new products. The technology developed here, using government and commercial funding, becomes the foundation for the new products manufactured by SatCon`s subsidiaries. A major effort of concentration is power electronics for fuel cell, micro-turbine and other alternative power generation systems. Since its incorporation, SatCon has received over $80 million in development funds from external sources.
Advanced Fuel Cell Power Products was initially purchased as HyComp and provides SatCon with 45,000 square feet of manufacturing facilities that will now be dedicated to the manufacture and sale of power converters for fuel cell power generation systems for remote on-site power generation for residential and commercial applications. The Company is working with several fuel cell manufacturers on this product.
Electronic Power Products was recently purchased from Northrop Grumman. The division builds power electronics that can be coupled with micro-turbines for use in on-site power generation or in alternative fuel vehicles. The group provided drive trains that were installed in road test versions of Chrysler`s EPIC Minivan and in Blue Bird buses for the Cedar Rapids transportation consortium.
Film Microelectronics, Inc. designs and manufactures microelectronic circuits. Its products are sold nationally and internationally in the telecommunications, commercial and government aerospace, industrial, medical and automotive markets. FMI also recently introduced a line of products directed at satellite communications for the Internet
Magmotor manufactures servomotors and an extensive range of high performance motors to the industrial machinery, factory automation, and automotive markets. It also manufacturers SatCon`s Integrated Suspension and Motor (ISAM) product that is supplied to Applied Materials for use in the production of silicon wafers. Magmotor recently developed a new line of brushless DC servomotors, the first application being for the machine tool industry.
Ling Electronics, acquired in October 1999, manufactures test equipment, power converters, amplifiers and controllers and recently introduced a line of power converters. Ling brings SatCon an international sales and service network that will be used in support of SatCon`s power converter product line being developed and built by its Advanced Fuel Cell Power Products Division.
Beacon Power Corporation is SatCon`s first spin-off and is transitioning the flywheel energy storage system into production as an uninterruptible power supply for use in cable television, telephone, internet and wireless communications systems. Beacon Power has strong joint venture partners in Duquesne Enterprises, Perseus Capital, LLC and Micro Technology Generation Fund, LLC. The 20C1000 Flywheel Energy Storage System replaces less efficient, less reliable and environmentally unfriendly lead acid battery systems. Field trials of the 20C1000 are being conducted in conjunction with Bell Atlantic, Media One, and Cox Communications.
Investment Considerations
Significant Market Opportunities - The need for energy and power management is pervasive across many markets. From the Internet to the automobile, to aircraft and satellites, there is a continuing need to be more efficient with power consumption. SatCon`s technologies are addressing and solving these needs through better electronics, better motors and better systems.
Impressive Customer Base - The Company`s customers include, among others, Bell Atlantic, Media One, Applied Materials, General Motors, Ford, Daimler Chrysler, TRW, Carrier, Allied Signal, Duquesne Enterprises, Allied Signal, Boeing, Northrop Grumman, Motorola, Hughes, Lockheed Martin, and Delco Remy.
Company is Successfully Implementing Its Strategy - SatCon has been pursuing its strategy of developing technologies and transitioning them to products since its inception. With the successful transition of the Applied Materials ISAM product to Magmotor, the growth at FMI with several new telecommunications products and the spin-off of Beacon Power, the Company is demonstrating a successful implementation of its strategy.
Experienced Management Team - SatCon and its Subsidiaries, are led by a highly experienced and knowledgeable management team. David Eisenhaure, the President and Chief Executive Officer has over 25 years of experience in managing technology and product development, and each of the Division`s General Managers have extensive experience in their respective product bases and markets.
Man profitiert hier also indirekt vom Milliardenmarkt der Brennstoffzellentechnologie.
Business Overview
SatCon Technology Corporation manufactures and sells power and energy management products for several applications including: on-site power generation using fuel cells and micro-turbines; telecommunications; silicon wafer manufacturing; factory automation; aircraft; satellites; and automotive applications. As we approach the new millennium, the demand for energy and power is ever increasing, and while the demand increases, environmental, economic and regulatory concerns are pressuring for new, cleaner methods of power generation and usage. Today, SatCon is building the products that will be critical components of these new power generation systems. In distributed power, for example, natural gas will be piped into neighborhoods and industrial complexes and used to power fuel cells, micro-turbines, or other devices that will locally generate power. SatCon`s power electronics building blocks would then convert this power to useable electricity. These same electronics modules are the basis of SatCon`s new advanced integrated power modules that decrease the size and lower the cost of electric, hybrid-electric, and fuel cell vehicle controllers that distribute and manage on-board electricity. SatCon is also building products that use this power more efficiently. Its high efficiency motors and drive systems are increasing throughput in industrial machinery without increasing energy costs. Its "Powersmart" electronics components are designed to do more with the power available, and its flywheel energy storage systems provide energy storage for back-up power that replaces environmentally hazardous lead-acid batteries. Whether it`s electronic components that power the Internet or integrated motor and suspension systems that manufacture silicon wafers, SatCon is at the forefront of developing and manufacturing power management products that help our world operate more efficiently and cleanly.
Market Overview
SatCon`s markets are extensive. Since power and energy management bridges every market, SatCon`s products have significant market potential. Energy consumption is costly and older methods of generation are environmentally unfriendly. New methods of power generation are being introduced that will use SatCon power electronics building blocks to convert locally generated power into useable electricity. SatCon`s products are also key components in reducing energy consumption in several markets such as: Telecommunications, where smaller, faster and more efficient electronics devices are needed as the Internet and other telecommunications increase. Factory automation, from silicon wafers to automobile manufacturing, where increased throughput and lower production costs are critical to long term corporate profits. Cable television and telephony where power management is critical to maintaining uninterrupted services from telephones to the Internet. Energy management is also critical in applications for aircraft and satellites, and in automobiles that are increasingly becoming electrified to handle intelligent driving systems and other new options, and even in electric, hybrid-electric and fuel cell vehicles that many believe will be the future of personal transportation.
Milestones and Key Developments
On February 1st, SatCon announced that it will build fuel cell power converters for H-Power, among whose strategic investors is Duquesne Enterprises who is also a strategic investor in SatCon.
On January 20th, SatCon announced that it will build fuel cell power converters for Northwest Power Systems a division of IDACORP, the parent company of Idaho Power.
On January 12th, 2000 the Company renamed HyComp to the Advanced Fuel Cell Power Products Division to handle the manufacturing, distribution and service of its fuel cell power converters for on-site power generation.
On December 7th, SatCon`s Power Electronics Products Division in Maryland (formerly of Northrop Grumman) introduced a new line of Micro-turbine Line Power Units that couples with a micro-turbine to provide on-site power generation using natural gas. The units are directed at the larger industrial and commercial size market.
On December 1st, SatCon subsidiary, Ling Electronics announced the introduction of a new standard power inverter line for use with Fuel cell, micro-turbine and photovoltaic power generation systems. Also since the acquisition, combined Ling and SatCon efforts had resulted in $1.8 million in new orders for standard Ling products.
On November 17th, SatCon acquired the power electronics business unit from Northrop Grumman. The group builds complete power conversion and control systems for micro-turbines, hybrid electric vehicles and fuel cell systems. This group built the hybrid drive system for Chrysler`s Epic hybrid-electric minivan.
On October 22nd, SatCon entered into a strategic alliance with Mechanical Technology, Inc. SatCon acquired Ling Electronics from Mechanical Technology and received $7,000,000 in cash and 100,000 warrants to purchase Mechanical Technology common stock. In exchange Mechanical Technology received 1,800,000 shares of SatCon common stock. Mechanical Technology is the parent company of Plug Power for whom SatCon is building power inverters for on-site fuel cell power generation systems. The fuel cell systems will be sold to residential customers in the year 2001 and will be distributed and serviced by General Electric.
On September 15th, Applied Materials released a press release that identified SatCon as an enabling technology for its new Radiance Centura System. SatCon provides an integrated suspension and motor (ISAM) system for Applied Materials RTP system. More information on the ISAM can be found at www.magmotor.com.
On August 26th, SatCon announced a $8 million dollar private placement of Series A Convertible Redeemable Preferred Stock. The investment will be used to support SatCon`s manufacturing expansion efforts.
On June 10th, FMI announced that it had been selected by Hughes Electronics Corporation`s Network Systems to design the substrate circuitry for the RF amplifier section of its new SpacewayTM user terminals. SpacewayTM is a global broadband satellite network that provides affordable, high-bandwidth and high-speed communications for broadband, Internet and multimedia applications. Hughes is investing $1.4 billion in the new system.
On May 3rd, Beacon Power announced that it had successfully completed the first phase field testing of its flywheel uninterruptible power supply, (UPS), systems for telephone and cable television applications. The systems have successfully operated for over 1,800 continuous hours.
Strategy and Growth
SatCon`s strategy is based on the same strategy successfully implemented by other MIT companies. That is to advance technology in response to a market need, then transition that technology from its Tech Center into new products that are produced by its manufacturing divisions or spin-off Subsidiaries.
The transition to a new generation of products being developed by SatCon is being fueled by a combinations of market demand for higher performance and improved efficiency and by the potential to satisfy those needs made possible by advances in materials and electronic technologies.
It is the company`s strategy to accelerate its technological developments by continuing to expand its externally funded contract and research and development from both government and commercial sources and to acquire manufacturing capabilities to support its product development efforts and product line expansion. The Company believes that this funding can be used to develop products that can be sold to government agencies and transitioned into viable commercial products. In most instances, individual components have multiple applications across multiple markets.
Operations
SatCon Technology Center, located at the Company`s headquarters near MIT in Cambridge, MA is the technology engine that drives the development of new products. The technology developed here, using government and commercial funding, becomes the foundation for the new products manufactured by SatCon`s subsidiaries. A major effort of concentration is power electronics for fuel cell, micro-turbine and other alternative power generation systems. Since its incorporation, SatCon has received over $80 million in development funds from external sources.
Advanced Fuel Cell Power Products was initially purchased as HyComp and provides SatCon with 45,000 square feet of manufacturing facilities that will now be dedicated to the manufacture and sale of power converters for fuel cell power generation systems for remote on-site power generation for residential and commercial applications. The Company is working with several fuel cell manufacturers on this product.
Electronic Power Products was recently purchased from Northrop Grumman. The division builds power electronics that can be coupled with micro-turbines for use in on-site power generation or in alternative fuel vehicles. The group provided drive trains that were installed in road test versions of Chrysler`s EPIC Minivan and in Blue Bird buses for the Cedar Rapids transportation consortium.
Film Microelectronics, Inc. designs and manufactures microelectronic circuits. Its products are sold nationally and internationally in the telecommunications, commercial and government aerospace, industrial, medical and automotive markets. FMI also recently introduced a line of products directed at satellite communications for the Internet
Magmotor manufactures servomotors and an extensive range of high performance motors to the industrial machinery, factory automation, and automotive markets. It also manufacturers SatCon`s Integrated Suspension and Motor (ISAM) product that is supplied to Applied Materials for use in the production of silicon wafers. Magmotor recently developed a new line of brushless DC servomotors, the first application being for the machine tool industry.
Ling Electronics, acquired in October 1999, manufactures test equipment, power converters, amplifiers and controllers and recently introduced a line of power converters. Ling brings SatCon an international sales and service network that will be used in support of SatCon`s power converter product line being developed and built by its Advanced Fuel Cell Power Products Division.
Beacon Power Corporation is SatCon`s first spin-off and is transitioning the flywheel energy storage system into production as an uninterruptible power supply for use in cable television, telephone, internet and wireless communications systems. Beacon Power has strong joint venture partners in Duquesne Enterprises, Perseus Capital, LLC and Micro Technology Generation Fund, LLC. The 20C1000 Flywheel Energy Storage System replaces less efficient, less reliable and environmentally unfriendly lead acid battery systems. Field trials of the 20C1000 are being conducted in conjunction with Bell Atlantic, Media One, and Cox Communications.
Investment Considerations
Significant Market Opportunities - The need for energy and power management is pervasive across many markets. From the Internet to the automobile, to aircraft and satellites, there is a continuing need to be more efficient with power consumption. SatCon`s technologies are addressing and solving these needs through better electronics, better motors and better systems.
Impressive Customer Base - The Company`s customers include, among others, Bell Atlantic, Media One, Applied Materials, General Motors, Ford, Daimler Chrysler, TRW, Carrier, Allied Signal, Duquesne Enterprises, Allied Signal, Boeing, Northrop Grumman, Motorola, Hughes, Lockheed Martin, and Delco Remy.
Company is Successfully Implementing Its Strategy - SatCon has been pursuing its strategy of developing technologies and transitioning them to products since its inception. With the successful transition of the Applied Materials ISAM product to Magmotor, the growth at FMI with several new telecommunications products and the spin-off of Beacon Power, the Company is demonstrating a successful implementation of its strategy.
Experienced Management Team - SatCon and its Subsidiaries, are led by a highly experienced and knowledgeable management team. David Eisenhaure, the President and Chief Executive Officer has over 25 years of experience in managing technology and product development, and each of the Division`s General Managers have extensive experience in their respective product bases and markets.
Interessiert sich niemand ausser uns an dieser Aktie?
SCHADE
SCHADE
Hallo,
interessant, dass sich noch jemand für diese Aktie interessiert. Immerhin ist dies ein echter Insider. Investiert ihr auch in die BZ-Technologie?
Ich gehe davon aus, dass eine techn. Reaktion kurz bevorsteht. Also haltet bei unserem BZ-Komponentenlieferant die Augen und Ohren offen!
PS: Cooler Thread! Weiter so!
Grüsse SeubertF
interessant, dass sich noch jemand für diese Aktie interessiert. Immerhin ist dies ein echter Insider. Investiert ihr auch in die BZ-Technologie?
Ich gehe davon aus, dass eine techn. Reaktion kurz bevorsteht. Also haltet bei unserem BZ-Komponentenlieferant die Augen und Ohren offen!
PS: Cooler Thread! Weiter so!
Grüsse SeubertF
Trading Spotlight
habe eben die Meldung gesehen.
Thursday October 25, 8:05 am Eastern Time
SOURCE: SatCon Technology Corporation(R)
SatCon Granted U.S. Patent for Biological and Chemical Detection System
Company Completes Product Validation Phase, Sets Sights on New Opportunities
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 25, 2001--As a result of research conducted under a contract with the U.S. Army Research Office, SatCon Technology Corporation® (Nasdaq NM: SATC - news) today said the U.S. Patent and Trademark Office has granted Patent No. 09/780,792 which covers the optical signal processing component of the company`s biological and chemical detection system. The company also said it has completed the demonstration and validation phase of its advanced biological contamination sensing technology program for the U.S. Army.
As first announced in November 1999, research was initiated at SatCon Applied Technology to develop an optical sensing based system to detect traces of chemical and biologic agents in food and liquids, such as botulism or e-coli and other pathogens, within a very small sample size in near real time. The recently awarded patent covers SatCon`s high speed, highly sensitive platform and a method for detecting and/or measuring characteristics of a substance in a sample.
David Eisenhaure, SatCon`s president and chief executive officer, said, ``The goal of the program is to develop a portable laptop-sized detection system capable of on-site detection of chemical and biologic agents rapidly and without extensive and time-consuming laboratory analysis. The program was initiated by the U.S. Army Research Office to demonstrate SatCon`s evanescent wave biosensing approach in a portable system for detecting contaminants in food and liquids. We have expanded the system to include potential commercial applications as well as for medical testing.`` Eisenhaure said that one of the original non-military applications for which SatCon has been performing feasibility studies is for the detection of contaminants in drinking water supplies such as large reservoirs.
SatCon has several programs under development at its Applied Technology business unit that are supported by government contracts and often have wide applications. With renewed emphasis on real time biological detection, the company believes it may have new opportunities for this technology that will further its product development. Participants in the program include the Massachusetts Institute of Technology, Tufts University and Boston University.
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 Semiconductor Products 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.
Thursday October 25, 8:05 am Eastern Time
SOURCE: SatCon Technology Corporation(R)
SatCon Granted U.S. Patent for Biological and Chemical Detection System
Company Completes Product Validation Phase, Sets Sights on New Opportunities
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 25, 2001--As a result of research conducted under a contract with the U.S. Army Research Office, SatCon Technology Corporation® (Nasdaq NM: SATC - news) today said the U.S. Patent and Trademark Office has granted Patent No. 09/780,792 which covers the optical signal processing component of the company`s biological and chemical detection system. The company also said it has completed the demonstration and validation phase of its advanced biological contamination sensing technology program for the U.S. Army.
As first announced in November 1999, research was initiated at SatCon Applied Technology to develop an optical sensing based system to detect traces of chemical and biologic agents in food and liquids, such as botulism or e-coli and other pathogens, within a very small sample size in near real time. The recently awarded patent covers SatCon`s high speed, highly sensitive platform and a method for detecting and/or measuring characteristics of a substance in a sample.
David Eisenhaure, SatCon`s president and chief executive officer, said, ``The goal of the program is to develop a portable laptop-sized detection system capable of on-site detection of chemical and biologic agents rapidly and without extensive and time-consuming laboratory analysis. The program was initiated by the U.S. Army Research Office to demonstrate SatCon`s evanescent wave biosensing approach in a portable system for detecting contaminants in food and liquids. We have expanded the system to include potential commercial applications as well as for medical testing.`` Eisenhaure said that one of the original non-military applications for which SatCon has been performing feasibility studies is for the detection of contaminants in drinking water supplies such as large reservoirs.
SatCon has several programs under development at its Applied Technology business unit that are supported by government contracts and often have wide applications. With renewed emphasis on real time biological detection, the company believes it may have new opportunities for this technology that will further its product development. Participants in the program include the Massachusetts Institute of Technology, Tufts University and Boston University.
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 Semiconductor Products 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.
SatCon Acquires Certain Sipex Corporation Data Conversion Product Lines; New Product Line Geared Toward Enhancing Satcon`s Military and Aerospace Product Revenues
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 2, 2002--SatCon Technology Corporation(R) (Nasdaq NM:SATC), a leader in industrial power systems, announced today that it has acquired substantially all of Sipex Corporation`s Hybrid customers through a royalty based asset acquisition agreement. The product lines include Sipex`s Thin Film and Hybrid Assembly business, which serves the defense and aerospace industries.
"The products will be a good fit for SatCon`s growing defense business," said David Eisenhaure, SatCon president and chief executive officer. "We have a strong reputation in the high-reliability electronics market and this acquisition should further position us for additional growth in the future. Sipex has also agreed to work together with us to market these products during the transition from Sipex to SatCon."
The product lines include high-reliability data conversion products, such as amplifiers, analog to digital and digital to analog converters, custom application specific integrated circuits and multi-chip modules for military applications including weapons and flight control systems to prime contractors.
About Sipex
Sipex Corporation is a semiconductor company that designs, manufactures and markets high performance, value-added analog integrated circuits that are used primarily by original equipment manufacturers (OEMs) operating in the markets of computing, communications, and networking infrastructure. Sipex serves the broad analog signal processing market with interface circuits, analog display drivers, power management and optical storage ICs. Applications for the Company`s products include personal computers and peripherals, battery powered hand-held devices such as PDAs and cellular telephones, networking, process controls and satellites.
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, including inverter electronics from 5 kilowatts to 5 megawatts. SatCon Electronics manufactures and sells power chip components; power switches; RF devices; amplifiers; telecommunications electronics; and hybrid microcircuits for industrial, medical, military and aerospace applications. SatCon Applied Technology develops advanced technology in digital power electronics, high-efficiency machines and control systems for a variety of defense applications with the strategy of transitioning those technologies into long term 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 that involve risks and uncertainties. Among the important factors that could cause the Company`s actual circumstances, or results, to differ materially from those implied by such forward-looking statements include market conditions, developments in the Company`s business and industry, inability to gain customer acceptance of its new products, failure to successfully integrate the new product lines into SatCon Electronics, failure to successfully market these products or achieve projected revenue objectives, and difficulties in developing technology enhancements. 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 Company`s Forms 10-K and 10-Q. Copies of those filings are available from the Company and the Securities and Exchange Commission.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 2, 2002--SatCon Technology Corporation(R) (Nasdaq NM:SATC), a leader in industrial power systems, announced today that it has acquired substantially all of Sipex Corporation`s Hybrid customers through a royalty based asset acquisition agreement. The product lines include Sipex`s Thin Film and Hybrid Assembly business, which serves the defense and aerospace industries.
"The products will be a good fit for SatCon`s growing defense business," said David Eisenhaure, SatCon president and chief executive officer. "We have a strong reputation in the high-reliability electronics market and this acquisition should further position us for additional growth in the future. Sipex has also agreed to work together with us to market these products during the transition from Sipex to SatCon."
The product lines include high-reliability data conversion products, such as amplifiers, analog to digital and digital to analog converters, custom application specific integrated circuits and multi-chip modules for military applications including weapons and flight control systems to prime contractors.
About Sipex
Sipex Corporation is a semiconductor company that designs, manufactures and markets high performance, value-added analog integrated circuits that are used primarily by original equipment manufacturers (OEMs) operating in the markets of computing, communications, and networking infrastructure. Sipex serves the broad analog signal processing market with interface circuits, analog display drivers, power management and optical storage ICs. Applications for the Company`s products include personal computers and peripherals, battery powered hand-held devices such as PDAs and cellular telephones, networking, process controls and satellites.
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, including inverter electronics from 5 kilowatts to 5 megawatts. SatCon Electronics manufactures and sells power chip components; power switches; RF devices; amplifiers; telecommunications electronics; and hybrid microcircuits for industrial, medical, military and aerospace applications. SatCon Applied Technology develops advanced technology in digital power electronics, high-efficiency machines and control systems for a variety of defense applications with the strategy of transitioning those technologies into long term 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 that involve risks and uncertainties. Among the important factors that could cause the Company`s actual circumstances, or results, to differ materially from those implied by such forward-looking statements include market conditions, developments in the Company`s business and industry, inability to gain customer acceptance of its new products, failure to successfully integrate the new product lines into SatCon Electronics, failure to successfully market these products or achieve projected revenue objectives, and difficulties in developing technology enhancements. 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 Company`s Forms 10-K and 10-Q. Copies of those filings are available from the Company and the Securities and Exchange Commission.
SatCon in Negotiations to Revise Line of Credit Covenant
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 3, 2002--SatCon Technology Corporation(R) (Nasdaq NM: SATC), a leader in critical power systems, announced today that it has not satisfied a covenant in its loan agreement with Silicon Valley Bank, requiring that SatCon raise a minimum of $4.0 million of new equity or subordinated debt by December 1, 2002. SatCon is in discussions with Silicon Valley Bank to seek to amend the agreement to extend the time period in which to raise the additional investment. Currently, SatCon is in discussions with potential investors regarding raising additional capital.
About SatCon Technology Corporation
SatCon Technology Corporation manufactures and sells critical power products. SatCon has three business units: SatCon Power Systems manufactures and sells power systems for distributed power generation, power quality and factory automation, including inverter electronics from 5 kilowatts to 5 megawatts. SatCon Electronics manufactures and sells power chip components; power switches; RF devices; amplifiers; telecommunications electronics; and hybrid microcircuits for industrial, medical, military and aerospace applications. SatCon Applied Technology develops advanced technology in 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 that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "believes," "expects," "plans," "anticipates," seeks" 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. Among the important factors that could cause the Company`s actual circumstances, or results, to differ materially from those implied by such forward-looking statements include being unable to obtain an amended loan agreement with Silicon Valley Bank, being unable to raise additional required capital, market conditions and developments in the Company`s business and industry. 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 Company`s Forms 10-K and 10-Q. Copies of those filings are available from the Company and the Securities and Exchange Commission. The Company expressly disclaims any obligation to update the information contained in this release.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 3, 2002--SatCon Technology Corporation(R) (Nasdaq NM: SATC), a leader in critical power systems, announced today that it has not satisfied a covenant in its loan agreement with Silicon Valley Bank, requiring that SatCon raise a minimum of $4.0 million of new equity or subordinated debt by December 1, 2002. SatCon is in discussions with Silicon Valley Bank to seek to amend the agreement to extend the time period in which to raise the additional investment. Currently, SatCon is in discussions with potential investors regarding raising additional capital.
About SatCon Technology Corporation
SatCon Technology Corporation manufactures and sells critical power products. SatCon has three business units: SatCon Power Systems manufactures and sells power systems for distributed power generation, power quality and factory automation, including inverter electronics from 5 kilowatts to 5 megawatts. SatCon Electronics manufactures and sells power chip components; power switches; RF devices; amplifiers; telecommunications electronics; and hybrid microcircuits for industrial, medical, military and aerospace applications. SatCon Applied Technology develops advanced technology in 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 that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "believes," "expects," "plans," "anticipates," seeks" 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. Among the important factors that could cause the Company`s actual circumstances, or results, to differ materially from those implied by such forward-looking statements include being unable to obtain an amended loan agreement with Silicon Valley Bank, being unable to raise additional required capital, market conditions and developments in the Company`s business and industry. 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 Company`s Forms 10-K and 10-Q. Copies of those filings are available from the Company and the Securities and Exchange Commission. The Company expressly disclaims any obligation to update the information contained in this release.
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