SatCon Technology Corporation (Nasdaq NM: SATC), a developer and manufacturer of power electronics and motors for the alternative energy markets, has received multiple purchase orders from four new customers for 13 commercial grade inverters equaling 2.3 megawatts (MW), including an order from one of the largest photovoltaic integrators in North America.
In addition, a customer that has been operating a trial unit issued a follow-on purchase order for 3 commercial grade inverters totaling 0.9 MW. These photovoltaic inverters trade named PowerGate(TM) are scheduled for delivery prior to the end of the current fiscal year. Said Clemens van Zeyl, President, SatCon’s Power Systems Canada Division responsible for Alternative Energy products, “It is very encouraging to see our customer base in the sector continuing to grow and it is very rewarding to see that our emphasis on high-efficiency commercial grade inverters is being embraced by our customers.”
David Eisenhaure, SatCon’s Chairman and Chief Executive Officer stated, “With our growing customer base, we are expecting our revenues from photovoltaic inverters to approach twenty percent of our total corporate revenues for the current fiscal year, up from approximately ten percent in the prior year.”
SatCon Technology Corporation is a developer and manufacturer of electronics and motors for the Alternative Energy, Hybrid-Electric Vehicle, Grid Support, High Reliability Electronics and Advanced Power Technology markets.
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