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Satcon® Appoints New Chief Financial Officer

Dépèche transmise le 13 mai 2011 par Business Wire

Satcon® Appoints New Chief Financial Officer

Satcon® Appoints New Chief Financial Officer

BOSTON--(BUSINESS WIRE)--Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today announced that its Board of Directors has appointed Aaron M. Gomolak to be its Executive Vice President, Chief Financial Officer and Treasurer effective May 11, 2011, replacing Donald R. Peck.

“As we intensify our expansion into new markets and geographies with our industry leading utility solar solutions, Aaron’s deep international experience will be instrumental to Satcon’s long-term success.”

Mr. Gomolak has been working at Satcon in several roles since May of 2008, both as a consultant handling the company’s financials from 2008 to 2010, and most recently as the company’s Senior Vice President of Global Operations.

Steve Rhoades, Satcon’s President and Chief Executive Officer said, “I want to thank Don Peck for his important contributions to our company over the past year which enabled us to successfully recapitalize.”

“I am pleased to have Aaron Gomolak as part of my leadership team as we take the company to the next level of growth and profitability,” continued Mr. Rhoades. “As we intensify our expansion into new markets and geographies with our industry leading utility solar solutions, Aaron’s deep international experience will be instrumental to Satcon’s long-term success.”

Prior to Satcon, Mr. Gomolak was with Advanced Energy Industries, Inc., a publicly traded company providing power conversion products to renewable energy markets, serving as their Vice President of Finance and Corporate Controller.

About Satcon

Satcon Technology Corporation is a leading provider of utility-grade power conversion solutions for the renewable energy market, enabling the industry's most advanced, reliable, and proven clean energy alternatives. For more than ten years, Satcon has designed and delivered advanced power conversion products that enable large-scale producers of renewable energy to convert the clean energy they produce into grid-connected efficient and reliable power. To learn more about Satcon, please visit http://www.Satcon.com.

Safe Harbor

Statements made in this document 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.

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