<PAGE>

                                                                   EXHIBIT 10.33

                                   SUBLEASE

                                    between

                         SATCON TECHNOLOGY CORPORATION

                                      and

                         NORTHROP GRUMMAN CORPORATION

                                     Dated

                               November 16, 1999
<PAGE>

                                   SUBLEASE


     THIS SUBLEASE, made this 16 day of November 1999 between NORTHROP GRUMMAN
CORPORATION, A Delaware corporation, having its principal office at 1840 Century
Park East, Los Angeles, CA 90067 (hereinafter called "Sublessor"), and SatCon
Technology Corporation, a Delaware Corporation, having its principal office at
161 First Street, Cambridge, MA 02142(hereinafter called "Sublessee").

WITNESSETH:

     WHEREAS, Friendship Realty Company, Inc. (hereinafter called "Lessor") and
     Westinghouse Electric Corporation entered into a lease agreement dated June
     9, 1980 for a building located at 1745 W. Nursery Rd., Linthicum, MD.,  and
     for a lease term expiring on May 31, 2000, as amended by agreements dated
     October 12, 1992, March 8, 1993, and November 8, 1999 (the "Master Lease").

     WHEREAS, the Master Lease was subsequently assigned to Sublessor.

     WHEREAS, Sublessor desires to sublease a portion of the above property to
     Sublessee.

     NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

Premises
          1.   (a) That for and in consideration of the payment by Sublessee of
          the rent hereinafter reserved and the performance by Sublessee of the
          covenants and agreements hereinafter agreed to be performed by it, and
          in accordance with all of the provisions hereinafter set forth,
          Sublessor does hereby sublet and demise unto the Sublessee and
          Sublessee does hereby take and hire from the Sublessor approximately
          14,863 rentable square feet of space as illustrated on Exhibit A, in
          the premises at 1745 W. Nursery Rd., Linthicum, MD, which is leased to
          the Sublessor by the Lessor (the "Subleased Premises"), under the
          aforementioned lease (the "Master Lease") dated June 9, 1980 and
          amended most recently on October 12, 1992 and March 8, 1993.

          (b)  Sublessor and Sublessee further agree that at Sublessee's option,
          for a period of six (6) months from the date of this Sublease, and
          upon prior written notice to the Sublessor by Sublessee, Sublessee
          shall have the right to expand the Subleased Premises into the area
          designated "Optional Space" as illustrated on Exhibit "A". All costs
          and expense of construction shall be the sole responsibility of the
          Sublessee. This option is subject to the Lessor approval rights as
          described in the Master Lease. Any expansion into the Optional Space
          will be allowed only after plans submitted by Sublessee to the
          Sublessor are approved by Sublessor and Lessor, which approval shall
          not be unreasonably withheld. A mutually acceptable amendment to this
          Sublease will be executed by Sublessor and Sublessee which changes the
          rentable square feet and rent, based upon the final footprint of the
          improvements of the Optional Space.

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          (c)  Construction of any improvements will be coordinated through the
          Sublessor and any construction management fees to the Lessor's
          Property Management firm will be the sole responsibility of the
          Sublessee.


Term
          2.   (a) This Sublease is for the term beginning on the date the last
          signature is obtained on this Sublease and ending on March 31, 2002
          subject to the provisions of Section 13.

          (b)  Sublessee will be granted a sublease renewal option for the
          period April 1, 2002 through September 30, 2005, provided Sublessee is
          not in default of the Master Lease or Sublease provisions and
          Sublessee notifies Sublessor, in writing, Six (6) months in advance of
          any expiration.

          (c)  Provided the Sublessor extends the term of the Master Lease
          beyond September 30, 2005 and the above described Master Lease
          extension occurs, Sublessee shall have the option to further extend
          the term of the Sublease for two (2) additional two (2) year periods,
          provided Sublessee is not in default of the Master Lease or Sublease
          provisions and Sublessee notifies Sublessor, in writing, six (6)
          months in advance of any expiration. Not withstanding the above,
          Sublessor shall be under no obligation to extend the Master Lease

          (d)  Notwithstanding the foregoing, at anytime after the third
          anniversary of the commencement date, either party shall have the
          right to terminate this sublease at any time, upon six (6) months
          prior written notice to the other party hereto.

Use       3.   Sublessee shall use the Subleased Premises only for the same use
          as is allowed Sublessor pursuant to Section 1 of the Master Lease, a
          true and correct copy of which is attached hereto, as Exhibit "B" and
          made a part hereof. Sublessee will comply with any and all laws,
          ordinances, orders and regulations of any governmental authority which
          are applicable to its use of the Subleased Premises and shall comply
          with all provisions of the Master Lease.

Rents and Additional Rent

          4.   (a) Sublessee shall pay Sublessor One Hundred Fifty Six Thousand
          Sixty Two dollars ($156,062.00), per year ("Annual Rent") ($10.50 per
          rentable square foot) payable in equal monthly installments of
          Thirteen Thousand Five and 17/100 dollars ($13,005.17) in advance on
          the first day of each month during the term of this sublease without
          deduction, set off or demand. Rent for any portion of a month shall be
          prorated on a thirty (30) day basis. Rent payments will be delivered
          to Sublessor's agent located at Northrop Grumman Corporation, P.O. Box
          17319, Baltimore, MD 21203, Attn: Real Estate MS A465, or such other
          place as Sublessor may designate.

          (b)  The Annual Rent set forth in paragraph 4.(a) above is comprised
          of $71,342.00 annually ("Base Rent") ($4.80 per rentable square foot)
          and $84,720.00 annually

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          ("Additional Rent") ($5.70 per rentable square foot) for services to
          include janitorial, exterior maintenance and repairs, snow and ice
          removal, water and sewer, real estate taxes and electric. The
          allocated cost for electrical consumption is $44,589.00 annually
          ($3.00 per rental square foot).

          (c)  Sublessor and Sublessee each at its sole cost shall have the
          right to install an electrical submeter for the purpose of measuring
          the Sublessee's electrical consumption. Sublessee agrees to pay
          Sublessor the cost of electricity consumed by Sublessee based upon the
          same rates charged by the electrical provider to the Sublessor,
          including any prorata amount for surcharges or taxes. The Sublessor
          will deduct from the additional rent stated above in paragraph 4.(b)
          $44,589.00 annually ($3.00 per rentable square foot) if submetering is
          used to determine the cost of electric service provided to the
          Sublessee.

          (d)  The Annual Rent obligation (Base Rent and Additional Rent) for
          any Sublessee option period shall increase by four (4) percent for
          each option period exercised by Sublessee.

                                       3

<PAGE>

By way of example:

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------
                                  Annual              Annual
Period                           Base Rent        Additional Rent        Total Annual Rent
---------------------------------------------------------------------------------------------
<S>                              <C>              <C>                    <C>
Sublease Start - 3/31/2002         $71,342.00              $84,720.00             $156,062.00
---------------------------------------------------------------------------------------------
First Option Period
    4/1/2002 - 9/30/2005           $74,195.68              $88,108.80             $162,304.48
---------------------------------------------------------------------------------------------
Second Option Period
   10/1/2005 - 9/30/2007           $77,163.51              $91,633.14             $168,796.65
---------------------------------------------------------------------------------------------
Third Option Period
   10/1/2007 - 9/30/2009           $80,250.05              $95,298.46             $175,548.51
---------------------------------------------------------------------------------------------
</TABLE>

Assignments and Subletting

          5.   Sublessee does not have the right to assign, or sublease to a
          third party any or all of the Subleased Premises. Sublessee may only
          assign this Sublease or further sublet the Subleased Premises or any
          part thereof with prior written consent of Sublessor and Lessor which
          consent may be withheld or conditioned by Sublessor or Lessor in their
          sole discretion. Sublessee shall give Sublessor 30 days prior written
          notice of any proposed subletting. Notwithstanding the above, no
          consent shall be required from Sublessor in connection with a sub-
          sublease or assignment to any entity with which Sublessee may merge,
          or to any entity acquiring substantially all of Sublessee's stock or
          assets and providing that no such transfer, assignment or sub-
          subletting shall relieve Sublessee from its duty to perform fully all
          of the agreements, covenants, and conditions set forth in this
          Sublease or the Master Lease. In addition Sublessee shall not
          transfer, assign or sub-sublet to any entity which would create a
          violation of Sublessors security requirements under its Government
          contracts.


Alterations, Additions or Improvements

          6.   (a) Sublessee shall not make any alterations, additions or
          improvements, to the Subleased Premises without Sublessor's prior
          written consent, which consent shall not be unreasonably withheld or
          delayed and the written consent of the Landlord under the lease. All
          work done pursuant to this Section 6 shall be done in a good and
          workmanlike manner in full compliance with all applicable laws, and
          the structural integrity of the building shall not be impaired, and no
          liens shall attach to the Subleased Premises by reason thereof. Upon
          termination of this Sublease, such alterations, additions, or
          improvements shall, at the option of the Sublessor, (1) become the
          property of Sublessor, or (2) by notice given to Sublessee at the time
          Sublessor and Lessor approve such alterations, additions, or
          improvements be removed by the Sublessee at it's expense, provided
          that any part of the Subleased Premises affected by such removal shall
          be restored to its original condition, reasonable wear and tear
          excepted.

          (b)  At the written request of the Sublessee, the Sublessor will
          coordinate and contract for any alteration, additions or improvements
          including the construction of the

                                       4

<PAGE>

          Optional Space as referenced in Section 1.(b) that the Sublessee may
          require from time to time. Sublessee agrees to reimburse Sublessor for
          all third party costs incurred by Sublessor in connection with any
          alteration, additions or improvements.


Preparation for Occupancy

          7.   At the commencement of the term, Sublessee shall accept the
          Premises in its then "as is" condition. Sublessor shall not be
          required to perform work of any kind or nature.


Incorporation of Prime Lease

          8.   This sublease is subordinate to and is subject to all of the
          terms of the Master Lease. All of the terms with which Sublessor is
          bound to comply under the Master Lease shall, to the extent that they
          apply to the Subleased Premises and except as otherwise provided
          herein, be binding upon Sublessee, and all of the obligations of
          Lessor set forth in the Master Lease shall, to the extent that they
          apply to the Subleased Premises, inure to Sublessee's benefit. It is
          the intention of the Sublessor and Sublessee that, except as otherwise
          provided in this sublease, the relationship between Sublessor and
          Sublessee shall be governed by the language of the various articles of
          the Master Lease as if they were typed out in this Sublease in full,
          and the words "Lessor" "Lessee" and "Lease" as used in the Master
          Lease, shall read, respectively, "Sublessor", "Sublessee" and
          "Sublease".


Quiet Enjoyment

          9.   Sublessor covenants and agrees with Sublessee that upon Sublessee
          paying the Annual Rent reserved in this Sublease and observing and
          performing all of the other obligations, terms, covenants and
          conditions of this Sublease on Sublessee's part to be observed and
          performed, Sublessee may peaceably and quietly enjoy the Subleased
          Premises during the term; provided, however, that this Sublease shall
          automatically terminate upon termination or expiration of the Master
          Lease and Sublessee shall have no claim against Sublessor unless such
          termination was caused by the default of Sublessor in the performance
          of its obligations under the Master Lease which have been assumed by
          Sublessor under this Sublease and have not been assumed by Sublessee
          hereunder.

Notices   10.  All notices, demands and requests which may be or are required to
          be given by either party to the other shall be in writing and shall be
          effective only upon receipt. All such notices, demands and requests
          shall be sent via registered U.S. mail postage prepaid, return receipt
          requested, addressed:

                                       5

<PAGE>

          to the Sublessor:   Northrop Grumman Corporation
                              1745 West Nursery Road
                              Linthicum, MD 21090
                              Attention: Real Estate Manager  MS-A465
                              Telephone: (410) 765-9120

          with a copy to:     Northrop Grumman Corporation
                              Real Estate Department
                              Legal Notices
                              1840 Century Park East
                              Los Angeles, California 90067
                              Telephone (310) 201-3227

          to the Sublessee:   SatCon Technology Corporation
                              161 First Street
                              Cambridge, MA 02142
                              Attention: General Counsel


          Either party may designate in writing any changes in address or
          addresses of substitute or additional persons to receive such notices.
          The effective date of service of any notice shall be the date such
          notice was received. Inability to deliver a notice, due to a change in
          address without notice by the addressee, shall be considered for all
          purposes under this Sublease, a delivered notice effective as of the
          mailing date.

                                       6

<PAGE>

Environmental

          11.  The following environmental provisions apply to this Sublease:

          (a)  "Hazardous Materials" shall mean any material or substance (a)
          which is defined as a "hazardous substance", "hazardous waste",
          "extremely hazardous substance", "hazardous chemical," "toxic
          substance", "pollutant", "contaminant" or the like under any federal,
          state, or local environmental, or occupational health and safety,
          statute, law, regulation, rule or ordinance ("Environmental Laws", as
          more specifically defined below), (b) which contains polychlorinated
          biphenyls (PCBs), (c) which contains asbestos, (d) which is
          radioactive, or (e) the presence of which requires investigation or
          remediation under any Environmental Law, as well as any toxic or
          otherwise hazardous substance, material or waste which is or becomes
          regulated as such by any Environmental Law.

          (b)  Without the prior written consent of Sublessor, Sublessee shall
          not cause, allow or permit the escape, disposal or release of
          Hazardous Materials in, around or from the Subleased Premises, except
          in accordance with all applicable Environmental Laws. Sublessee shall
          not store, use or allow the storage or use of Hazardous Materials in
          the interior of the Subleased Premises in any manner not sanctioned by
          law or the standards prevailing in the industry for handling and
          storage of such Hazardous Materials. Sublessee is specifically
          prohibited from storing Hazardous Materials in or around the exterior
          of the Subleased Premises. In the event that any such Hazardous
          Materials are required to be used by Sublessee in the ordinary course
          of its business, Sublessee shall keep in the Subleased Premises and
          supply a copy of same to Sublessor upon oral request, the uses of such
          substances, including a copy of the applicable Material Safety Data
          Sheet ("MSDS") if any, or other identification of such substances or
          materials. Sublessee shall remain strictly responsible and liable for
          any and all consequences, direct or indirect, resulting from the use
          of such Hazardous Materials in or around the Subleased Premises,
          including liability for all cost and expenses necessary to investigate
          and remediate such Hazardous Materials unless such Hazardous Materials
          were actually introduced to the subleased premises prior to the
          commencement date of this Sublease. With respect to Hazardous
          Materials introduced to the Subleased Premises after the commencement
          date of this Sublease, Sublessee shall, at its sole cost and expense,
          take any and all actions required to restore the Subleased Premises to
          their conditions prior to the commencement date of this Sublease, and
          in accordance with the requirements of any federal, state or local
          governmental agency.

          (c)  Sublessee shall conduct all of its operations at the Subleased
          Premises in compliance with all federal, state and local statutes
          (including, but not limited to the Comprehensive Environmental
          Response, Compensation and Liability Act, 42 U.S.C. Section 9601 et
          seq., as amended, (CERCLA); the Resource Conservation and Recovery
          Act, 42 U.S.C. Section 6901 et seq., as amended (RCRA); the Clean Air
          Act, 42 U.S.C. 7401 et seq., as amended, the Clean Water Act, 33
          U.S.C. Section 1251 et seq., as amended, the Occupational Health and
          Safety Act 29 U.S.C. Section 651 et

                                       7
<PAGE>

          seq., as amended, and all applicable federal, state and local statues
          related to health and safety and the environment now or hereafter
          enacted and any additions and amendments thereto and regulations
          enacted thereunder, ordinances, orders and requirements of common law,
          regarding, but not limited to, (i) discharges to the air, soil,
          surfaces or ground water; and (ii) handling, utilizing, storage,
          treatment or disposal of any Hazardous Materials as defined therein
          ("Environmental Laws"). Sublessee shall obtain all permits, licenses
          or approvals and shall make all notifications and registrations
          required by Environmental Laws and shall submit to Sublessor, upon
          request, for inspecting and copying all documents, permits, licenses,
          approvals, manifest and records required to be submitted and/or
          maintained by the provisions of the Environmental Laws. Sublessee
          shall provide promptly to Sublessor copies of any permits, licenses,
          approvals, notices of violations, summons, orders, complaints or other
          documents received by Sublessee pertaining to compliance with the
          Environmental Laws in the Subleased Premises.

          (d)  Sublessee shall not store any hazardous material or equipment
          exterior to the building.

          (e)  If, Sublessor has evidence that there has been a release of
          Hazardous Materials, Sublessor may require testing by an environmental
          testing entity mutually agreed to by both parties hereto to ascertain
          whether there has been a release of Hazardous Materials by Sublessee,
          its agents, servants, employees or business invitees, in or around the
          Subleased Premises. The reasonable costs of such testing shall be
          reimbursed by Sublessee to Sublessor. If Lessor or any applicable
          governmental agency requires environmental testing, then such testing
          shall be performed and paid for in the manner described above.
          Sublessee shall execute affidavits or representations, at Sublessor's
          request, stating that to the best of Sublessee's knowledge and belief
          after due inquiry, since the time that Sublessee took possession of
          the Subleased Premises, there have been no unauthorized releases of
          Hazardous Materials in, on or around the Subleased Premises.

          (f)  Sublessee hereby agrees to indemnify Sublessor and Lessor and to
          hold Sublessor and Lessor harmless of, from and against any and all
          expense, loss, cost, damages, fines, penalties, loss of value to the
          leasehold estate or liability suffered by Sublessor by reason of
          Sublessee's breach of any of the provisions of this Section 11.

          (g)  The provisions of this Section 11 shall survive the termination
          of Sublessee's tenancy of this Sublease.

Sublessor and Sublessee Responsibilities

          12.  (a) Sublessee shall maintain and keep in good order and condition
          the building utility systems serving the Subleased Premises including,
          electrical, heating, air conditioning and plumbing systems. Except for
          Sublessee's negligence or intentional acts, Sublessor shall be
          responsible for the maintenance of the roof and building structure.
          Sublessor shall provide janitorial and trash removal services.
          Sublessor shall

                                       8

<PAGE>

          be responsible for payment of Real Estate Taxes. Sublessor shall allow
          Sublessee access to the Sublessor's toilet facilities. Sublessee shall
          not be obligated to make any repairs to the Subleased Premises that
          are a capital expenditure as determined by generally accepted
          accounting practices.

          (b)  Sublessee shall comply with all rules, regulations and security
          requirements of the United States Government and its agencies as may
          be required by Sublessor.

          (c)  Sublessee shall maintain and keep in good order and condition the
          interior of Subleased Premises.

          (d)  Sublessee shall pay at its sole cost, for all maintenance and all
          improvements, ordinary and extraordinary, required due to its specific
          use of the Subleased Premises.

Termination

          13.  This Sublease shall terminate upon the occurrence of any of the
          following:

          (a)  Full destruction of the Subleased Premises.

          (b)  Any exercise of the power of eminent domain by any governmental
          authority, Federal, State, County, or municipal, or by any other party
          vested by law with such power which shall at any time prevent the full
          use and enjoyment of the Subleased Premises by Sublessee for the
          purposes set forth in Section 3.

          (c)  Termination or Expiration of Sublessor's tenancy under the Master
          Lease.

Security  14. Sublessee shall comply with the overall physical security and fire
          protection requirements of the entire facility as well as the space
          occupied by the Sublessee as reasonably directed by the Sublessor.
          Sublessor shall maintain the existing building security monitoring,
          however Sublessor shall not be liable for and Sublessee will hold
          Sublessor harmless from any loss, damage, personal injury or death
          resulting from any occurrence on the Subleased Premises, unless caused
          by Sublessor's gross negligence or willful misconduct. Sublessor shall
          have complete access to the Subleased Premises provided Sublessor
          gives 24 hour notice to Sublessee except in the case of emergencies,
          in which case Sublessor shall be allowed access without prior notice
          to Sublessee.

Parking   15. Sublessee shall be allowed to park up to 40 automobiles on the
          adjacent remote Parking Lots in unreserved spaces. Sublessee will be
          allowed to park in front of the Subleased Premises in those areas
          illustrated on Exhibit "A".

Insurance 16. (a) The Sublessee covenants that it will not do nor permit to be
          done, nor keep nor permit to be kept upon the said premises, anything
          which will contravene the policy or policies of insurance against loss
          by fire or other causes, or which will increase the rate of fire or
          other insurance on the building on the premises beyond the

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<PAGE>

          rate in effect on the commencement date of this lease. Should any act
          of the Sublessee so increase said rate, then in addition to the
          rentals hereinabove provided for, the Sublessee shall be liable for
          such additional premium which shall be payable when billed, as
          additional rent, collectible in the same manner as the rents
          hereinabove provided for. Sublessee covenants that under no
          circumstances will it keep or permit to be kept, do or permit to be
          done in or about said Subleased Premises, anything of a character so
          hazardous as to render it difficult, impracticable or impossible to
          secure such insurance in companies acceptable to the Sublessor, and
          further, immediately upon notice, to remove from the Subleased
          Premises and/or desist from any practice deemed by the insurance
          companies or the Association of Fire Underwriters as so affecting the
          insurance risk.

          (b)  Sublessee shall and will save and keep harmless and indemnify the
          Sublessor from and against any and all claims for damages whatsoever,
          and the cost of defending against the same, of any kind or nature,
          including personal injuries, arising in any manner or under any
          circumstances relating to Sublessee's use of the Subleased Premises
          during the term hereof, whether such damage, including personal
          injury, be sustained by the Sublessee or its officers, agents,
          employees or invitees or by other persons or corporations which seek
          to hold the Sublessor liable unless caused by Sublessor's gross
          negligence or willful misconduct. Sublessee further agrees to maintain
          comprehensive public liability and property damage insurance with an
          insurance company reasonably acceptable to Sublessor to protect the
          Sublessor in the minimum amount of $1,000,000 for each occurrence for
          bodily injury (or death) and/or property damage with a $2,000,000
          aggregate. Such policy shall cover the entire Subleased Premises
          including any such sidewalk, streets and parking area adjoining
          Subleased Premises; shall be issued in form reasonably satisfactory to
          Sublessor; shall provide for at least twenty (20) days' notice to
          Sublessor before cancellation; and such policies or certificates
          thereof shall be delivered to Sublessor.

          (c)  Sublessee and Sublessor each hereby waives any and all rights of
          recovery against the other or against the officers, employees, agents
          and representatives of the other, for loss or damage to such waiving
          party or its property or the property of others under its control,
          where such loss or damage is insured against under any insurance
          policy in force at the time of such loss or damage. Sublessee and
          Sublessor shall, upon obtaining the policies of insurance required
          hereunder, give notice to the insurance carrier or carriers that the
          foregoing mutual waiver of subrogation is contained in this Sublease.


Sublessor Obligations to Lessor

          17.  Pursuant to the Master Lease, Sublessor shall be and remain
          liable to Lessor for payment of rent and all other amounts provided
          for in the Lease and to keep and be bound by all the terms, conditions
          and covenants of the Lease.


Applicable Law

          18.  This Sublease shall be construed in accordance with, and its
          performance shall be governed by, the laws of the state of Maryland.

                                      10

<PAGE>

               IT IS FURTHER CONVENANTED AND AGREED by and between the parties
          hereto that the convenants and agreements herein contained shall bind
          and inure to the benefit of the Sublessor and the Sublessee and their
          respective successors and assigns.

     IN WITNESS WHEREOF, the Sublessor and the Sublessee have caused this
agreement to be executed by their duly authorized officers as of the day and
year first above written.

WITNESS:                           NORTHROP GRUMMAN CORPORATION

/s/ Dawn Katje                     By: /s/ Albert Myers
-------------------------------    -------------------------------------------
Dawn Katje                         Its: Corporate Vice President and Treasurer
Administrative Assistant

WITNESS:                           SATCON
/s/ Michael C. Turmelle            By: /s/ David B. Eisenhaure
-------------------------------    ------------------------------------------
Michael C. Turmelle                Its: President
CFO                                     -------------------------------------

                                      11