In October 2012, SatCon Technology Corporation had filed for Chapter 11 Bankruptcy reorganization. By February 2013, the voluntary petition of Satcon Technology Corporation for reorganization under Chapter 11 was converted to Chapter 7 dissolution and by mid February 2013 the firm had officially closed and ceased operations. Later in 2013, SatCon was acquired by the Chinese firm CEC GreatWall a former partner in SatCon penetartion of the Chinese market withthe firm continued listing on OTC SATCQ. In many ways an early SBIR success story. The firm came out of MIT and Draper Labs; went Public in 1992. By 2008 the firm had achieved a series of technical and business firsts. SatCon Technology Corporation had engages in the design and manufacture of enabling technologies and products for electrical power conversion and control and had shifted its major focus to solar. The firm's products were used for the performance and efficiency applications in alternative energy, hybrid electric vehicles, distributed power generation, power quality, semiconductor fabrication capital equipment, industrial motors and drives, and defense electronics. The company sold its products through three segments: Power Systems, Electronics, and Applied Technology. The Power Systems segment manufactured and sold high power line of power control systems, amplifiers, and power converters; rotary UPS systems for back-up power and power quality; inverters for alternative energy, including underwriter laboratory compliance testing; and industrial and commercial power conversion, and conditioning products. The Electronics segment designed and manufactured advanced electronic assemblies, thin film products, radio frequency products, and custom modules for the aerospace, defense, wireless, and telecom industries. The Applied Technology segment designed and built power conversion products, which include power electronics, machines, and control systems for various defense and commercial applications.
