Leading Innovators Team to Develop and Market Optimized Solutions for Commercial and Industrial Rooftop Solar Power Systems
FREMONT, Calif.--(BUSINESS WIRE)--Satcon (NASDAQ CM: SATC), a leading provider of utility and commercial scale distributed power solutions for the renewable energy market, and Solyndra, a manufacturer of proprietary photovoltaic (PV) systems designed to optimize solar electricity production on commercial rooftops, announced today a strategic partnership to develop and deliver optimized system solutions for commercial rooftop solar power production. As part of the agreement, Satcon and Solyndra will both market Solyndra’s commercial solar PV systems with Satcon’s commercial solar PV inverters as well as collaborate on new technologies that will further optimize design, implementation and return on investment of large commercial and industrial solar PV power plants.
This partnership between two of the leading innovators in commercial grade solar PV lays the groundwork for long term cooperation on solutions that will revolutionize commercial solar power for years to come. By marketing Solyndra's highly efficient solar panels and Satcon's commercial ready suite of high efficiency solar inverter solutions, including Satcon's PowerGate Plus, S-Type inverters, or the groundbreaking Solstice power conversion platform which dramatically increase power conversion from roof and ground mount solar PV plants, Solyndra and Satcon will leverage off the unique contributions that each has made to the solar PV market.
Solyndra solutions enable customers to maximize rooftop solar energy generation through a combination of their unique 360-degree photovoltaic surface and through design flexibility that allows high rooftop coverage. Matching this with Satcon’s feature-rich solutions for power conversion assures maximum power production in virtually any rooftop environment. In addition, Satcon offers the industry’s widest range of large scale inverter power ratings, allowing each solar installation to be tailor fitted to the optimal inverter size for increased system efficiency and performance.
“Our partnership with Satcon allows us to align our respective technologies and give our customers the maximum performance benefit from their systems,” said Dr. Chris Gronet, CEO of Solyndra. “The combination of Satcon’s innovative power platforms, long history in commercial solar, and their wide range of commercial inverter power ratings, make them the obvious partner to collaborate with when creating highly optimized, flexible total system solutions.”
“Solyndra is the leading innovator in the commercial rooftop solar energy market,” said Steve Rhoades, President and Chief Executive Officer of Satcon Technology Corporation. “We are excited to partner with them to deliver a highly optimized solution for commercial rooftops and to drive the next level of innovation for the PV market. “
Satcon Technology Corporation is a leading provider of utility scale distributed power solutions for the renewable energy market, enabling the industry’s most advanced reliable and proven clean energy alternatives. For over 23 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, wind-turbines, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com.
Solyndra designs and manufactures photovoltaic systems, comprised of panels and mounting hardware, for the commercial rooftop market. Solyndra employs high volume manufacturing based on proven technologies and processes to meet the needs of the global solar market. Using proprietary cylindrical modules and thin-film technology, Solyndra systems are designed to provide the lowest installed cost per system and the highest solar electrical energy output for typical low slope commercial rooftops. Headquartered in Fremont, California, Solyndra operates a state-of-the-art 300,000 square foot fully-automated manufacturing complex. Learn more at www.solyndra.com.
Statements made in this press release that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company's expectation. Additional information concerning risk factors is contained from time to time in the company's SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.
Mike Grunow, 510-440-2406
Sr. Director - Marketing
Satcon Technology Corporation
Alida Bangs, 510-226-3812
Satcon Technology Corporation
Leah Gibson, 617-897-2400
Investor Relations Manager