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SatCon Technology Appoints Michael J. O'Connor as General Manager of Its Film Microelectronics and HyComp Divisions

12 December 2000

SatCon Technology Appoints Michael J. O'Connor as General Manager of Its Film Microelectronics and HyComp Divisions

    CAMBRIDGE, Mass.--Dec. 12, 2000--SatCon Technology Corporation(R) , a leader in power and energy management products, announced today that it has appointed Michael J. O'Connor as General Manager of the Film Microelectronics Inc. (FMI) and HyComp divisions. Mr. O'Connor will be joining SatCon on January 2nd, 2001.
    "We're very pleased to have Mike joining the SatCon team. We have existing electronics revenues and new power and energy management products in development," said David Eisenhaure, SatCon's President and Chief Executive Officer. "Mike will be assuming the duties of General Manager of FMI and HyComp, a vacancy created when Gary Colello became the General Manager of the Advanced Fuel Cell Power Products Division. Mike has proven leadership in general and operations management within both start-up and established corporations and he is highly respected within the industry. Mike will be key to the continued growth of our electronics products at FMI and HyComp. He has a successful track record in developing and growing organizations. Previously, he was the General Manager for Powercube Corporation, a manufacturer of DC to DC and AC to DC converters and custom power systems, and then Vice President and General Manager of Unitrode Corporation, a manufacturer of DC to DC converters and processor power products. More recently, he was co-founder of BCO Technologies, a custom semiconductor developer based in the United Kingdom. He managed BCO Technologies from start-up to its public offering in 1997 on the London Stock Exchange and through its subsequent sale to Analog Devices of Wilmington, Massachusetts. Mike is joining SatCon from Omnirel, an electronics components manufacturer and a division of International Rectifier, where he is Vice President. Mike also has extensive experience in product development, turn-around situations and offshore manufacturing."
    "I'm excited about coming to SatCon," said Mr. O'Connor. "SatCon is developing a portfolio of innovative and enabling products in the wireless telecommunications, aerospace and distributed power marketplaces. SatCon has RF and power module technology and a new manufacturing facility. This is an exciting business and I am looking forward to managing the manufacturing of SatCon's new and existing power and energy management products."
    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 three operating segments that contain six divisions. Under the Electronics Products segment, Advanced Fuel Cell Power Products manufactures and sells power conversion products for fuel cell and other power generation systems and Film Microelectronics, Inc. designs and manufactures standard and custom microelectronic circuits and interconnect products. Under the Motion Control Products segment, Magmotor manufactures standard and custom high-performance motors and magnetic suspension systems and Ling Electronics manufactures shaker vibration test equipment, power converters, amplifiers and controllers. Under the Funded Research and Development segment, SatCon Electronic Power Products performs contract product development for power electronics including hybrid and electric drivetrains, and the Technology Center is responsible for new technology and product development. Our affiliate, Beacon Power Corporation, is developing flywheel energy storage systems for uninterruptible power and power quality management. For further information, please visit the SatCon website at http://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 and difficulties in developing technology enhancements. 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. Copies of those filings are available from the Company and the SEC.