SatCon Appoints Ralph Norwood as VP and CFO

February 14, 2002 by Jeff Shepard

SatCon Technology Corp. (Cambridge, MA) announced that it has appointed Ralph Norwood as vice president and CFO. Norwood comes to SatCon from RMN Associates, a consulting firm that he formed one and a half years ago to provide financial and strategic counsel to start-ups and emerging growth companies.

"This is an important step in our preparations for future growth," said David Eisenhaure, SatCon's president and CEO. "We've made some significant investments in our power systems business unit, and in order to ensure that those investments reach fruition, we have asked that Sean Moran take the financial lead in managing the financial operations of the power systems business unit. Fortunately, we were also able to find a person with the appropriate experience and skill base to replace Sean at the corporate level in the CFO position. Ralph has experience with both large and entrepreneurial businesses and in both technology and manufacturing operations. He has experience working with the financial markets and in raising capital. He also has a history of working with operations in developing and refining strategy in order to promote growth and increase shareholder value. We are looking forward to Ralph's contributions to the future success of SatCon."