2012 Press Releases

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10/23/12

Satcon Receives Court Approval to Support Warranty and Service Programs

Company Granted Ability to Continue Support Five to Twenty Year Warranty and Service Programs and Establish Intellectual Property (IP) Escrow Account BOSTON--(BUSINESS WIRE)--Oct. 23, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced that the United States Bankruptcy Court for the District of Delaware (the "Court") gra...

10/17/12

Satcon Technology Corporation Announces Chapter 11 Bankruptcy Filing

BOSTON--(BUSINESS WIRE)--Oct. 17, 2012-- Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today announced that the Company and its subsidiaries have filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code. The petitions were filed in the U.S. Bankruptcy Court for the District of Delaware. Steve Rhoades, Satcon’s Presi...

08/08/12

Satcon® Reports Second Quarter 2012 Financial Results

BOSTON--(BUSINESS WIRE)--Aug. 8, 2012-- Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today announced its results for the second quarter ended June 30, 2012. Revenue for the second quarter of 2012 was $23.7 million, compared with revenue of $24.3 million in the first quarter of 2012. During the quarter, the company shipped 91 MWs of its i...

07/25/12

Satcon to Announce Second Quarter 2012 Financial Results on Wednesday, August 8

BOSTON--(BUSINESS WIRE)--Jul. 25, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-grade power conversion solutions for the renewable energy market, plans to announce its financial results for the second quarter 2012 after the market closes on Wednesday, August 8, 2012. In conjunction with the announcement, management will host a conference call that day at 5:00 p.m. ET. To participate in the confe...

07/19/12

Satcon Announces Effectiveness of 1-for-8 Reverse Stock Split

BOSTON--(BUSINESS WIRE)--Jul. 19, 2012-- Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today confirmed that the previously announced 1-for-8 reverse split of its common stock, $0.01 par value per share, took effect at 12.01 a.m. on July 19, 2012. Satcon’s common stock began trading on a post-split basis on The NASDAQ Capital Market as of the opening of ...

07/12/12

Satcon Launches PowerGate Plus H-Type Smart Inverter Solutions

Company Expands Product Portfolio with Over 7 Megawatts of Sales of its New H-Type Inverter Across Multiple Hawaiian Utilities BOSTON--(BUSINESS WIRE)--Jul. 12, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today introduced the PowerGate® Plus H-Type™ line, the newest addition to its Utility-Ready solution portfolio. The PowerGate...

07/11/12

Satcon Awarded $2 Million Grant by California Energy Commission

Company selected along with A123 Systems, Renewable Energy Services (RES), and the Sacramento Municipal Utility District (SMUD) for the development of advanced technologies to address issues with intermittent power output from photovoltaic systems BOSTON--(BUSINESS WIRE)--Jul. 11, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-grade power conversion solutions for the renewable energy market, alon...

07/10/12

Satcon Selected for One of California’s Largest Solar PV Power Plants

Company to deliver 52.5 megawatts of its Utility Ready PV inverter solutions in Southern California BOSTON--(BUSINESS WIRE)--Jul. 10, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced that it has been selected to supply 51 megawatts (MW) of its Equinox™ Prism Platform™ solution, a fully integrated multi-megawatt medium...

07/09/12

Satcon Named #1 Large-Scale Solar Inverter Supplier in North America

Secures leadership position for the second straight year, increases worldwide market share in 2011 BOSTON--(BUSINESS WIRE)--Jul. 9, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, announced today that it has achieved the number one position in the North American utility-scale solar inverter market for 2011 for the second consecutive...

07/09/12

Satcon Announces Reverse Stock Split

BOSTON--(BUSINESS WIRE)--Jul. 9, 2012-- Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today announced that its Board of Directors approved a 1-for-8 reverse stock split of its common stock. Satcon anticipates the reverse stock split will be effective and that its common stock will begin trading on a split-adjusted basis on The NASDAQ Capital Market at t...

06/19/12

Satcon Selected by Southern Sky Renewable Energy and Gemma Renewable Power for 5 Megawatts in Massachusetts

Company to supply its Equinox 500kW utility-ready solar inverters for the largest ground mount PV installation on a landfill in Massachusetts BOSTON--(BUSINESS WIRE)--Jun. 19, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced that it has been selected by Southern Sky Renewable Energy and Gemma Renewable Power to supply 5 mega...

06/12/12

Satcon Selected by Q-Cells for 30 Megawatts of California Utility Owned Installations

Company to deliver its industry-leading Equinox Prism Platform solutions across two sites in Central California BOSTON--(BUSINESS WIRE)--Jun. 12, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced that it has been selected by Q-Cells North America to supply 30 megawatts (MW) of its Equinox Prism Platform solutions for t...

05/16/12

Satcon Selected for Second Largest Solar Farm in Puerto Rico

Company Partners with Western Wind and Lord Electric to Deliver Thirty Megawatts of its Equinox Prism Platform Solutions BOSTON--(BUSINESS WIRE)--May. 16, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced that it has been selected by Western Wind and Lord Electric to supply 30 megawatts (MW) of its Equinox Prism Platform ...

05/14/12

GCL Solar Energy Places Order for 22.5MW of Satcon Equinox 500kW Inverters and 44MW of their SSB Solstice Combiners

BOSTON--(BUSINESS WIRE)--May. 14, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced that it has been selected by GCL Solar Energy, to supply forty-five of their Equinox 500 kilowatt (kW) inverters, along with over 1900 Satcon Solstice Subcombiners, 680 of its SSC Smart Subcombiners, and 64 medium voltage transformers, which will be u...

05/09/12

Satcon® Reports First Quarter 2012 Financial Results

BOSTON--(BUSINESS WIRE)--May. 9, 2012-- Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today announced its results for the first quarter ended March 31, 2012. Revenue for the first quarter of 2012 was $24.3 million, compared with revenue of $36.0 million in the fourth quarter of 2011, reflecting the anticipated seasonal slowdown in install...

05/03/12

Satcon Announces Strategic Canadian Manufacturing Partnership

Teams with Sanmina-SCI Corporation for Continued Production of Utility-Scale Inverters for the Ontario Feed-In-Tariff (FIT) Program BOSTON--(BUSINESS WIRE)--May. 3, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power solutions for the renewable energy market, today announced that it has finalized a strategic manufacturing agreement with Sanmina-SCI Corporation to manufacture its industry-leading ...

04/19/12

Satcon to Announce First Quarter 2012 Financial Results on Wednesday, May 9

BOSTON, Apr 19, 2012 (BUSINESS WIRE) --Satcon Technology Corporation(R) (NASDAQ CM: SATC), a leading provider of utility-grade power conversion solutions for the renewable energy market, plans to announce its financial results for the first quarter 2012 after the market closes on Wednesday, May 9, 2012. In conjunction with the announcement, management will host a conference call that day at 5:00 p.m. ET. To participate in the conference call, please dia...

04/11/12

Satcon® Provides Business Update for First Quarter 2012

BOSTON--(BUSINESS WIRE)--Apr. 11, 2012-- Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today provided a business update and certain preliminary unaudited financial results for its first quarter ended March 31, 2012. Based on preliminary financial data and subject to the final closing of the company’s books, Satcon expects first-quarter 2012 reve...

03/06/12

Satcon Selected by Unity Electric, LLC for 16 Megawatts in New Jersey

Company to Deliver its Industry-Leading PowerGate Plus 500 Kilowatt Solutions for One of the Largest Installations in the North East United States BOSTON--(BUSINESS WIRE)--Mar. 6, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced that it has been selected by Unity Electric, LLC to supply 16 Megawatts (MW) of their Powe...

03/01/12

Satcon Launches Equinox LC Inverters for the Light Commercial Solar Market

Expands Solution Portfolio to Include Several New Power Ratings of 98% Efficient Inverters for North America and International Markets BOSTON--(BUSINESS WIRE)--Mar. 1, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced that it is expanding its product portfolio to include best-in-class inverter solutions for the light ...

03/01/12

Satcon® Reports Fourth Quarter and Full Year 2011 Financial Results

BOSTON--(BUSINESS WIRE)--Mar. 1, 2012-- Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today announced its results for the fourth quarter and year ended December 31, 2011. Revenue for the fourth quarter of 2011 was $36.0 million, compared with revenue of $45.0 million in the third quarter of 2011. During the quarter, the company shipped 14...

02/16/12

Satcon to Announce Fourth Quarter and Full Year 2011 Financial Results on Thursday, March 1

BOSTON--(BUSINESS WIRE)--Feb. 16, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-grade power conversion solutions for the renewable energy market, plans to announce its financial results for the fourth quarter and full year 2011 after the market closes on Thursday, March 1, 2012. In conjunction with the announcement, management will host a conference call that day at 5:00 p.m. ET. To participate ...

02/07/12

Satcon, Great Wall Computer Announce Strategic Sales and Manufacturing Partnership to Expand Satcon's Leadership Position in China's Utility Scale Solar Market

Five-Year Agreement Provides Commercial Sales, Marketing and Distribution Relationship in Chinese Market, Extended Contract Manufacturing Agreement and Strengthened Supply Chain Organization BOSTON, Feb 07, 2012 (BUSINESS WIRE) --Satcon Technology Corporation(R) (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced a partnership with Great Wall Computer Company Limited ...

01/04/12

Satcon Announces Restructuring Initiative as Part of Long-Term Strategic Plan

BOSTON--(BUSINESS WIRE)--Jan. 4, 2012-- Satcon Technology Corporation® (NASDAQ CM: SATC) today announced a set of cost reduction initiatives as part of the company’s strategic plan to improve its financial performance and align its global workforce and operations infrastructure. Under the plan, Satcon will focus product development and marketing efforts on delivering the industry’s highest performing turnkey solutions for the large sca...