Fuel Cell to Power Equipment at Verizon Facility in Milestone Demonstration Project
CAMBRIDGE, Mass.--Dec. 19, 2001--Joint Development Initiative Part of Massachusetts' Efforts
to Bolster State's Economy, Meet Growing Worldwide Energy Demand,
and Strengthen National Energy Security
SatCon Technology Corporation(R) , a leader in power and energy management products, today announced its involvement in a milestone fuel cell demonstration project.
"We're proud to be a part of this collaboration," said David Eisenhaure, SatCon president and chief executive officer. "Our PowerGate(TM) power electronics conversion and controls are installed in the system and having partners like Verizon, Nuvera, and KeySpan Energy validates the viability and commercial potential for these distributed (on-site) power generation products."
The release published yesterday, December 18, 2001 by Verizon, Nuvera and the Commonwealth of Massachusetts stated that representatives from five public and private organizations have joined forces to launch the nation's first fuel-cell-powered telecommunications site. The demonstration project at a Verizon facility is aimed at significantly advancing the adoption of alternative energy technologies.
The natural gas-powered fuel cell system, developed by Cambridge, Massachusetts-based Nuvera Fuel Cells with support from the Massachusetts Technology Collaborative, was unveiled at Verizon's engineering facility here. SatCon Technology Corporation, a developer of power and energy management products based in Cambridge, Massachusetts, and KeySpan Energy Delivery New England, the Northeast's largest natural gas distributor, also participated in the historic event.
"This first-in-the-nation demonstration project helps shine a light on the important work being done in Massachusetts in the area of renewable energy technology," said Massachusetts Governor Jane Swift. "The advancements in this field will benefit all of the Commonwealth's residents by creating new jobs in a burgeoning industry, making our environment cleaner, and increasing the nation's energy self-sufficiency."
"The telecom industry is facing a growing need for high-quality power for our increasingly sophisticated equipment," said Donna Cupelo, Verizon Region President for Massachusetts and Rhode Island. "Our development efforts with Nuvera and other fuel cell companies mark an important step toward achieving that goal with an innovative, environmentally friendly, fuel-efficient energy technology."
The first-of-its-kind field demonstration represents Phase 2 of a joint effort between Nuvera and Verizon to develop, test, and evaluate fuel cell systems in the 5kW range -- the amount of energy required by many distributed telecom electronics sites, including those supporting local and wireless phone service. During the 500-hour demonstration, the fuel cell system will provide primary power to the Verizon facility, which houses engineering, installation and maintenance personnel, and also provides local phone service to nearly 200 area customers. The electric grid and batteries will be used to provide backup power.
"Using funds from the State's Renewable Energy Trust to support this project is an important part of our program to develop competitive, sustainable markets for renewable energy," added Mitchell Adams, Executive Director of the Massachusetts Technology Collaborative. "We are optimistic about the commercial viability of this market."
Alternative energy technologies offer opportunities for businesses, institutions, municipalities, and homeowners to use distributed generation -- power that is generated at the user's site. This increases energy efficiency, decreases pollution, reduces demand on the power grid, and diffuses any potential threat to the grid as a target.
"Our system is capable of converting commonly available fuels, such as natural gas, into hydrogen to generate clean, efficient electricity," said Mark Brodsky, CEO and President of Nuvera Fuel Cells. "This has allowed us to accelerate the commercialization of fuel cells not only in the telecommunications market where power quality and reliability are critically important, but also in the transportation and residential markets. The inauguration of our demonstration project is a significant step toward addressing the world's rapidly growing energy needs."
"The number of companies interested in obtaining alternative energy sources and distributed generation has doubled from a year ago," added David J. Manning, Senior Vice President of Corporate Affairs at KeySpan. "By providing them with the energy source to produce electrical power independently, we are able to give them the peace of mind they are looking for when operating their businesses or powering their homes and electronic devices."
About SatCon Technology Corporation
SatCon Technology Corporation manufactures and sells power and energy management products for digital power markets. SatCon has three business units: SatCon Power Systems manufactures and sells power systems for distributed power generation, power quality and factory automation. SatCon Semiconductor Products manufactures and sells power chip components; power switches; RF devices; amplifiers; telecommunications electronics; and hybrid microcircuits for industrial, medical, and aerospace applications. SatCon Applied Technology develops advanced technology in digital power electronics, high-efficiency machines and control systems with the strategy of transitioning those technologies into products. For further information, please visit the SatCon website at www.satcon.com.
About Verizon
Verizon Communications is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with 128.5 million access line equivalents and 28.7 million wireless customers. Verizon is also the largest directory publisher in the world. A Fortune 10 company with 256,000 employees and approximately $65 billion in annual revenues, Verizon's global presence extends to more than 40 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit http://www.verizon.com.
About Nuvera
Nuvera Fuel Cells is a leading designer and developer of fuel processors, fuel cell stacks, and integrated fuel cell systems for stationary and transportation applications. Its fuel processors and proton exchange membrane, or PEM, fuel cell stacks have been successfully tested and evaluated by major automobile and appliance manufacturers, research institutions, telecommunications organizations, and industrial and energy companies. Nuvera's fuel processors have demonstrated the ability to extract hydrogen from a number of liquid and gaseous fuels, including gasoline, ethanol, methanol, natural gas, kerosene, propane, butane, home heating oil, and diesel. For more information on Nuvera, visit http://www.nuvera.com.
Statements made in this document that are not historical facts or that apply prospectively are forward-looking statements that involve risks and uncertainties. The important factors that could cause SatCon Technology Corporation's ("the company's") actual circumstances, or results, to differ materially from those implied by such forward-looking statements include the ability to successfully integrate the company's products with those of Nuvera and within the Verizon site; the successful operation of any of SatCon's products; the ability to sell any additional units to either Nuvera or Verizon; the ability to successfully bring any of our new products into full production; developments in the company's business and industry; market conditions and the inability to gain customer acceptance of the company's products. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the company's filings including, but not limited to, the 10-K and 10-Q. Copies of those filings are available from the company and the Securities and Exchange Commission.