That is to advance technology in response to a market need, then transition that technology from its Tech Center into new products that are produced by its manufacturing divisions or spin-off Subsidiaries. The transition to a new generation of products being developed by SatCon is being fueled by a combination of market demand for higher performance and improved efficiency and by the potential to satisfy those needs made possible by advances in materials and electronic technologies. It is the company's strategy to accelerate its technological developments by continuing to expand its externally funded contract research and development from both government and commercial sources and to acquire manufacturing capabilities to support its product development efforts and product line expansion. The company believes that this funding can be utilized to develop products that would be sold to government agencies and transitioned into viable commercial products, in most instances, individual components have multiple applications across multiple markets. Since power and energy management bridges every market, the Company's products have significant sales potential.
Energy consumption is costly and older methods of generation are environmentally unfriendly.
New methods of creating power are being introduced that will use SatCon's PEBB modules to convert locally generated power into usable electricity. Factory Automation, from silicon wafers to automobile manufacturing, where increased throughput and lower production costs are critical to long term corporate profits. Cable television and Telephony, where power management is critical to maintaining uninterrupted services from telephones to the Internet. Energy Management is also critical in applications for aircraft and satellites, and in automobiles that are increasingly becoming electrified to handle intelligent driving systems and other new options, and even in electric, hybrid-electric and fuel cell vehicles that many believe will be the future of personal transportation.