SatCon Receives $75,000 Contract
14 July 1998
SatCon Receives $75,000 Contract for Thermal Management Scheme for Induction Motors
CAMBRIDGE, Mass.--July 14, 1998--Potential Phase II funding of $750,000 in 1999
SatCon Technology Corporation(R) , today announced that it received a $75,000 contract from the Small Business Innovation Research Program (SBIR) to design and develop a state-of-the-art thermal management scheme for induction motors. The first phase of this project is expected to be completed in four months, with the potential for an additional phase valued at $750,000.
"This SBIR contract enables SatCon to advance its technological expertise through outside funding," stated David Eisenhaure, President and Chief Executive Officer. "Initially, the innovative thermal management scheme will be used to enhance the performance and reduce the cost of induction motors in hybrid electric vehicles. In addition, the thermal management scheme could be applied to high-power industrial drives, turbo-alternators, and other power-dense machines. All of these applications represent opportunities for SatCon."
"During Phase I, engineers in the Technology Center will design a model of this state-of-the-art cooling scheme and the 100 kW traction motor in which the scheme is installed," said Dr. James Kirtley Jr., General Manager of SatCon's Technology Center. "Once completed, our goal is to receive the additional funding to build and test a prototype unit. Ultimately, we plan to transition the production of these units to our Magmotor Division and sell them commercially."
The proposed thermal management scheme is anticipated to meet the Partnership for a New Generation of Vehicles' (PNGV) goal: to develop an economically viable eighty mile-per-gallon hybrid electric vehicle for the automotive industry. SatCon's proposed thermal management scheme employs passive phase-change heat transfer which will decrease the required magnetic material and overall motor weight per a given power output.
SatCon Technology Corporation(R) designs, develops, and manufactures "Active Motion Control"(TM) systems including advanced electric motors, high density power electronics, suspension systems, satellite control systems, propulsion systems, and flywheel energy-storage systems for a variety of commercial and government customers. SatCon's flywheel energy-storage devices are produced by its subsidiary, Beacon Power Corporation. SatCon's Film Microelectronics Inc. subsidiary designs and manufactures microelectronic circuits and interconnect products. In addition, SatCon has a Magmotor Division in Worcester, Mass. and a Technology Center in Cambridge.
Note: This release contains forward-looking statements that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "intends" and similar expressions are intended to identify forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth under the caption "Factors Affecting Future Results" in the company's Annual Report on Form 10-K for the year ended Sept. 30, 1997, which factors are incorporated herein by reference. As more fully described in such "Factors Affecting Future Results", please note that the company's future growth opportunities are dependent on the introduction of new products that must penetrate the automotive, telecommunications, industrial, and computer market segments. No assurance can be given that new products can be developed, or if developed, will be successful; that competitors will not force prices to an unacceptably low level or take market share from the company; or that the company can achieve or maintain profits in these markets.