SatCon Awarded $2.7M Contract for Energy Storage and Delivery System
SatCon Technology Corp.® announced that it has been awarded a $2.7M Stage 1 contract for an energy storage and delivery system capable of providing 8 megawatts of power for several seconds. When the total system is fully implemented the power levels will be in excess of 20 megawatts. Delivery of this first stage is scheduled for June 2007. Full value of all three proposed stages is $6.5M. This system is an adaptation of SatCon's high power electronics and energy storage products developed for the alternative energy and distributed power markets, and is an enabling element of solar, fuel cell and wind farm installations.
SatCon's Chief Executive Officer, Dave Eisenhaure, stated, "This contract supports our leadership in supplying power conversion and energy storage products and is consistent with our role as a system provider in alternative energy applications. These types of programs allow customers to draw low levels of power from the grid and then supply large pulses of power for unique applications such as power outage ride through and grid connected distributed power using alternative energy sources where sunlight or load variations cause power drains for brief periods of time while additional systems come on line. The contract is in addition to the already announced $32 million in backlog at the end of Q3."
The award expands on SatCon's portfolio of power electronics applications with the development of an integrated pulse power energy storage system. The company claims that this technology has direct applicability to both civilian and military customers.
