Business Services Industry
SatCon Approved for Listing on the Nasdaq Capital Market
Business Wire, Oct 24, 2006
BOSTON -- SatCon Technology Corporation[R] (Nasdaq GM: SATC), a developer and manufacturer of power electronics and motors for the alternative energy markets, today announced that, on October 23, 2006, the Company received notification from the Nasdaq Listing Qualifications Department that the Company's application to transfer the listing of the Company's common stock from The Nasdaq Global Market to The Nasdaq Capital Market has been approved. According to Nasdaq, the Company's common stock will begin trading on The Nasdaq Capital Market at the opening of business on October 25, 2006.
As a result of this action by the Company, the scheduled hearing before a Nasdaq Listing Qualifications Panel will no longer be required.
About SatCon Technology Corporation
SatCon Technology Corporation is a developer and manufacturer of electronics and motors for the Renewable Energy, Hybrid-Electric Vehicle, Grid Support, High Reliability Electronics and Advanced Power Technology markets. For further information, please visit the SatCon website at www.satcon.com.
(SATC-G)
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. The Company expressly disclaims any obligation to update the information contained in this release.
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