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SatCon to Expand Manufacturing Capacity in the Second Half of 2008

2008-07-16 07:30:00

Responding to Strong International Demand and Enabling U.S. Customers

to Complete Renewable Energy Projects Prior to the Expiration of the

Current Federal Installation Tax Credit (ITC)

BOSTON–(EMWNews)–SatCon Technology Corporation (NASDAQ CM:SATC), a leading provider of

utility scale renewable energy solutions for distributed power markets,

announced today that the company will increase manufacturing capacity by

50% in the third quarter of 2008, an additional 20% over original plans

developed to address significant growth in the European and Asian

markets. The expanded production will focus on the companys

industry leading 500kW and 225kW PowerGate Plus

solar PV inverters. This initiative is in response to the increase in

demand for SatCon solutions due to industry pressure to complete

large-scale renewable energy projects prior to the expiration of the

current Federal Installation Tax Credit (ITC).

The failure to pass the ITC has put a hard

deadline on when we start our large commercial projects so that the

systems are operational by December 31st,

said Mark Frederick, Managing Partner of Pacific Power Management. SatCons

commitment to increase production at this critical time is essential to

our successful completion of these systems in time to realize the

significant benefits.

Our customers have communicated a significant

increase in demand for our large commercial and utility scale products

throughout the balance of 2008 as they race to finish their projects

before the end of the year, said Steve

Rhoades, SatCons President and Chief

Executive Officer. We have made the

strategic decision to expand our manufacturing capacity in order to

deliver the highest value to our customers and ensure our customers in

the U.S. are able to realize the benefits available to them from the

current ITC.

SatCon introduced the now industry leading 225 Kilowatt (kW) solar PV

inverter in April of 2005 and industry standard 500 Kilowatt (kW)

PowerGate Plus solar PV inverter in December

of 2005 to record adoption rates in the rapidly accelerating utility

scale, distributed energy market. With the recent introduction of the

1.2 Megawatt (MW) and 2.4 Megawatt (MW) PowerGate

fuel cell inverters, SatCon continues to demonstrate its dominant

position in large-scale renewable energy solutions.

About SatCon

SatCon Technology Corporation is the leading provider of utility scale

renewable energy solutions for distributed power markets, enabling the

industrys most advanced, reliable and proven

clean energy alternatives. For over 22 years, SatCon has designed and

delivered the next generation of efficient energy systems for solar

photovoltaic, stationary fuel cells, wind-turbines, and energy storage

systems. To learn more about SatCon, please visit www.SatCon.com.

About Pacific Power Management

Pacific Power Management is a full service commercial solar provider.

Services include assessment, financing support, design, engineering,

installation, web-based monitoring, maintenance and public relations

support to promote our customers

environmental leadership. The company emphasizes first-class service,

efficient, high-quality systems and complete project management. The

companys proprietary, flat-roof racking

systems are designed for a 50-year life and high solar panel output

efficiency. More information at: www.pacpower.biz.

Safe Harbor

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.

SatCon Technology Corporation
Leah Gibson, 617-897-2400
Investor

Relations
leah.gibson@satcon.com

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