October 14, 2003

News Release: SatCon Books $900,000 in New Military and Commercial Contracts

SatCon Technology Corporation(R) (NASDAQ NM: SATC), a developer and manufacturer of electronic power control systems for military and industrial applications, announced today that its Power Systems business unit has received new orders over the last several weeks of $900,000 for high power electronics for use in commercial and military aircraft applications and in an environmental processing system. The orders are scheduled to be shipped this fiscal year.

These orders include new contracts for a DC Power Supply for an environmental application, a 1.5 megawatt rectifier for a U.S. Navy military application, frequency converters for military aircraft, and the company's StarSine frequency converters used in testing aircraft electronics. SatCon's frequency converters are used throughout the world for military, commercial and industrial applications. SatCon manufactures the largest frequency converters available today in a single unit, up to 5000kVA. These frequency converters change electrical frequencies from one form to another for use in aircraft ground operations, military service maintenance facilities and test laboratories.

David Eisenhaure, president and chief executive officer, stated: 'Orders from the military sector remain strong. A few days ago we were able to announce $3.4 million in orders for high reliability electronics at our Electronics Division. The orders that we are announcing today provide further evidence that there is a strong and continuing demand for our products and technologies. In addition to product sales, the Company's Applied Technology division currently averages about $10 million a year in defense based product development. SatCon will continue to follow its strategy of seeking multi-year contracts in the military and national defense sectors in both our Products and Advanced Technology Divisions.'

About SatCon Technology Corporation

SatCon Technology Corporation manufactures and sells power control systems for critical military systems, alternative energy and high-reliability industrial automation applications. Products include inverter electronics from 5 kilowatts to 5 megawatts, power switches, and hybrid microcircuits for industrial, medical, military and aerospace applications. SatCon also develops and builds digital power electronics, high-efficiency machines and control systems for a variety of defense applications with the strategy of transitioning those technologies into multiyear production programs. For further information, please visit the SatCon Website at 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. These forward-looking statements are identified by the use of terms and phrases such as '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. There can be no assurance that the company will be successful in delivering all the products and services contained in the backlog or in securing additional orders for these products. 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.

SOURCE: SatCon Technology Corporation(R)

SatCon Technology Corporation(R) Mike Turmelle, 617-661-0540 or Investor Relations Aurelius Consulting Group Dave Gentry, 407-644-4256

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