New Brushless Motor Product Line Announced by Satcon
2 October 1998
Satcon's Magmotor Division Announces New Brushless Motor Product Line
CAMBRIDGE, Mass.--Oct. 2, 1998--- New Line To Initially Be Targeted At $250 Million
Machine Tool and Factory Automation Markets -
SatCon Technology Corporation(R) (Nasdaq NM: SATC), today announced that its Magmotor Division has completed the design and development of a new brushless DC servo-motor line designed to provide the highest possible torque utilizing the smallest amount of space. This new product line, which incorporates traditional SatCon technology to create higher power density than traditional brushless motors, is currently available for sale.
The company believes its new line is priced less than currently available products yet provides better performance and reliability.
This new product line is directed at the machine tool and factory automation markets which is estimated to be between $250 to 300 million. This "high end" market is the fastest growing sector of the industry with an annual growth rate anticipated to be almost 20%.
Magmotor Division specializes in the engineering and manufacturing of servo motors tailored to suit each customer's application. Combined with SatCon's technical expertise, Magmotor has been able to produce an extensive range of high performance, state-of-the-art motors featuring superior quality and reliability. This new brushless product line will offer servo motors in the 2, 3, and 4 inch frame sizes with torque values ranging from 4 to 60 in -lb.
"This new product line demonstrates SatCon's continued initiative to transition new and innovative technology into commercial products," said David Eisenhaure, President and Chief Executive Officer, "The line also marks an important step in the company's strategic business plan as it expands SatCon's sales into a new and growing industry."
SatCon Technology Corporation(R) designs, develops, and maintains "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 Film Microelectronics, Inc. subsidiary designs and manufactures microelectronic circuits and interconnect products. Additionally, SatCon has a Magmotor Division in Worcester, Massachusetts and a Technology Center in Cambridge, Massachusetts.
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 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 10K for the year ended September 30, 1997, which factors are incorporated herein by reference. Please note that the Company's future growth opportunities are dependent on the introduction of new products that must penetrate commercial market segments. No assurance can be given that new products can be developed, or of 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.