Satcon Announces 1-for-8 Reverse Stock Split

Satcon Technology Corporation®

today announced that its Board of Directors approved a 1-for-8 reverse stock split of its common stock. Satcon anticipates the reverse stock split will be effective and that its common stock will begin trading on a split-adjusted basis on The NASDAQ Capital Market at the opening of trading on July 19, 2012. Upon effectiveness of the reverse stock split, every eight shares of the company's issued and outstanding common stock will be automatically converted into one issued and outstanding share of common stock. No cash or fractional shares will be issued in connection with the reverse stock split. Satcon will round up to the next whole share in lieu of issuing factional shares that would have been issued in the reverse split. The reverse stock split, which was approved by Satcon's stockholders on June 20, 2012, will reduce the outstanding number of shares of common stock from approximately 144.2 million to approximately 18.0 million. Concurrent with the reverse stock split, Satcon will reduce the number of authorized shares of its common stock to 37.5 million.