Film Micro Receives $600,000 OrderAugust 26, 1999 by Jeff Shepard
SatCon Technology Corp. (Cambridge, MA) announced that its Film Microelectronics Inc. subsidiary has received a $600,000 order for linear amplifiers and voltage regulators from their distributor, Falcon Electronics. The majority of the order is to fulfill a first time annual service agreement with Lockheed Martin. "We're excited about this order for a couple of reasons," stated President and CEO David Eisenhaure. "This is our first order for newly developed products to fulfill an annual service agreement with a major customer such as Lockheed. In addition, because it is a country wide order, the parts will be used in all of Lockheed's divisions, which opens up new doors for us for several new accounts."SatCon also announced it completed an $8 million private placement of Series A stock. The firm plans to use the investment to enhance its manufacturing base, make future acquisitions, and other corporate applications that are expected to better position SatCon for continued growth.