SatCon Closes On $5 Million Credit Line

    CAMBRIDGE, Mass.--Sept. 16, 2002--SatCon Technology Corporation(R) , a leader in industrial power systems, announced today that it has closed on a $5 million revolving line of credit with Silicon Valley Bank. Terms of the credit facility were disclosed in the Company's 10-Q for the quarter ended June 29, 2002.
    "We announced in our quarterly conference call on July 31st that we had received a letter of commitment from Silicon Valley Bank." said David Eisenhaure, SatCon president and chief executive officer. "I am pleased to announce that we have closed the loan and are now able to immediately access the credit line. We are delighted that a nationally recognized financial institution like Silicon Valley Bank has expressed confidence in SatCon and our business plan. This credit line provides us with the ability to even out our cash requirements as we bring our uninterruptible power supply (`UPS') and new generation power quality systems to market."

    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, including inverter electronics from 5 kilowatts to 5 megawatts. SatCon Electronics 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.

    Statements made in this document that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. Among the important factors that could cause the Company's actual circumstances, or results, to differ materially from those implied by such forward-looking statements include market conditions, developments in the Company's business and industry, inability to gain customer acceptance of its new products, failure to raise the required additional funding. 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 Company's Forms 10-K and 10-Q. Details regarding the terms of this line of credit appear in the 10Q filing for the company's third quarter of 2002 filed with the Securities and Exchange Commission on August 12, 2002. Copies of those filings are available from the Company and the Securities and Exchange Commission.