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SatCon's MagMotor Division Delivers Motors and Controllers

3 March 2000

SatCon's MagMotor Division Delivers Motors and Controllers for Fuel Cell Cars to Major Domestic Auto Manufacturer

    CAMBRIDGE, Mass.--March 2, 2000--SatCon Technology Corporation(R) (Nasdaq NM:SATC), a leader in power and energy management products, today announced that its MagMotor Division delivered an initial shipment of high efficiency motors and controllers for use in a recently introduced fuel cell powered automobile manufactured by a major domestic automotive manufacturer. The motors are part of SatCon's increasing line of fuel cell related products that include power converters for changing DC power to AC Power and its new MicroGrid(tm) line of fuel cell controllers and software.
    The high-density motors and controllers demonstrate the higher efficiency necessary for maintaining the overall efficiency of the fuel cell propulsion system. Fuel cell hybrid-electric cars, which use fuel cells to generate electricity to drive traction motors, are gaining growing interest with domestic auto manufacturers as part of the industry-government Partnership for a New Generation of Vehicles (PNGV) of which SatCon has been a participating member for several years. The objective of the PNGV is to produce an 80-mpg automobile that is also environmentally friendly. With the recent rise in gasoline prices, renewed interest in alternative fuel vehicles is increasing. SatCon is also working on a Department of Energy $10 million program to design and produce lower cost power converters that manage the generation, storage and use of electrical power in fuel cell or other hybrid-electric automobiles.
    "We're very excited to be participating in these alternative energy markets that are making fuel cell cars and fuel cell power generation systems a reality," said David Eisenhaure, SatCon President and Chief Executive Officer. "What is of great benefit to our customers is that our motors, power converters and MicroGrid(tm) controllers and software can interface independently with any of our customers components and systems, making SatCon's fuel cell products versatile and adaptable to many applications."
    SatCon Technology Corporation manufactures and sells power and energy management products for distributed power generation, telecommunications, silicon wafer manufacturing, factory automation, aircraft, satellites and automotive applications. SatCon has six operating divisions: Advanced Fuel Cell Power Products manufactures and sells power conversion products for fuel cell power generation systems; Film Microelectronics, Inc. designs and manufactures microelectronic circuits and interconnect products; MagMotor manufactures servo-motors and magnetic suspension systems; Ling Electronics manufactures test equipment, power products, amplifiers and controllers; Beacon Power, a SatCon affiliate, manufactures flywheel energy storage devices; SatCon Electronic Power Products manufactures power converters for microturbines; and the Technology Center is responsible for new technology and product development. For further information, please visit the SatCon website at http://www.satcon.com.

    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 September 30, 1999, which factors are incorporated herein by reference. Copies of this filing and the Company's other filings are available from the Company and the SEC. 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 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.