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Hatch Steltech and Siemens AG to Sell SatCon's Smart Predictive Line Controller
June 11, 2002–-SatCon Technology, of Cambridge, Mass., reports it has licensed its Smart Predictive Line Controller Technology to Hatch Steltech Ltd. of Ontario, Canada and Siemens AG of Erlangen, Germany.
(6/11/2002)
"The SPLC was created to meet a market need within the iron and steel industry," said David Eisenhaure, SatCon's president and chief executive officer. "In order to increase our sales volume on these products, which sell for several hundred thousand dollars each, we decided to license the sale of these systems through Hatch Steltech and Siemens who are better positioned to market the SPLC line. We will continue to build the product for them and will recognize revenues from the sale of the units."
The SPLCs are used to control the energy consumption of electric arc furnaces resulting in a more efficient operation of these furnaces. In a previous installation, those efficiencies created excess power that could be sold to the utility grid.
Hatch Steltech is the Iron and Steel Technology marketing arm of the HATCH group of companies which is a worldwide consulting engineering company that serves the mining, mineral, metallurgical, manufacturing, energy and infrastructure industries. Siemens offers high-end solutions for iron and steel making, continuous casting plants, rolling mills, and processing lines. Siemens has more than 30 years of experience in providing Reactive Power Compensation Systems to the Basic Industries and is world market leader in Static Var Compensation Systems for Industrial Applications.