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American Superconductor
Corporation has added a news release to its Investor Relations website.
Title:
AMSC and U.S. Department of Energy Agree to Collaborate on 10
Megawatt-Class Superconductor Wind Turbines
Date: 2/10/2009 7:30:00
AM
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Project Focuses on Significantly Increasing Wind Turbine Power Capacity to Reduce Cost of Wind-Generated Electricity AMSC Windtec Design Expertise and AMSC's Superconductor Motor Technology Core to New Designs
��� WASHINGTON--(BUSINESS
WIRE)--Feb. 10, 2009--
����� American Superconductor
Corporation (NASDAQ: AMSC), a leading energy
����� technologies company,
today announced that it has entered into a
����� Cooperative Research and
Development Agreement (CRADA) with the U.S.
����� Department of Energy�s
National Renewable Energy Laboratory (NREL) and
����� its National Wind
Technology Center (NWTC) to validate the economics of
����� a full 10 megawatt (MW)
class superconductor wind turbine. AMSC is
����� separately developing
full 10 MW-class wind turbine component and system
����� designs. A CRADA allows
the Federal government and industry partners to
����� optimize their
resources, share technical expertise in a protected
����� environment and speed
the commercialization of technologies.
���
����� Under the 12-month
program, AMSC
����� Windtec�, a wholly owned
subsidiary of AMSC, will analyze the cost
����� of a full 10 MW-class
superconductor wind turbine, which will include a
����� direct drive
superconductor generator and all other components,
����� including the blades,
hub, power electronics, nacelle, tower and
����� controls. The NWTC will
then benchmark and evaluate the wind turbine�s
����� economic impact, both in
terms of its initial cost and its overall cost
����� of energy.
���
����� �The Department of
Energy and its National
����� Renewable Energy Lab
recognize that wind power will represent a
����� significant fraction of
our power production in the years to come,� said
����� NREL Director Dan
Arvizu. �High temperature superconductors hold promise
����� for helping lower the
overall cost of wind energy. We are pleased to be
����� teaming with AMSC to
move this technology forward.�
���
����� Direct drive wind
generator systems utilizing high temperature
����� superconductor (HTS)
wire instead of copper wire for the generator�s
�� ���rotor are expected to be much smaller,
lighter, more efficient and more
����� reliable than
conventional generators and gearboxes. AMSC estimates that
����� its superconductor
technology will enable a 10 MW-class generator system
����� that would weigh approximately
120 metric tons, compared with
����� approximately 300 metric
tons for conventional direct drive generators
����� with this power rating.
In addition, direct drive generators eliminate
����� the need for massive
gearboxes, the component with the highest
����� maintenance costs in
conventional wind turbines. This will open up the
����� opportunity for the
development of wind farms in more areas on land and
����� offshore.
���
����� The superconductor
generators that are to be utilized for 10 MW-class
����� superconductor wind
turbines are based on proven technology AMSC has
����� developed for
superconductor ship propulsion motors and generators under
����� contracts with the U.S.
Navy. AMSC recently
����� announced that a 36.5 MW
superconductor ship propulsion motor it
����� designed and
manufactured for the Navy was successfully operated at full
����� power by the Navy and is
ready for deployment.
���
����� Concurrent with the
CRADA, AMSC and TECO-Westinghouse
����� Motor Company (TWMC)
have been working on a project since October
����� 2007 to develop HTS and
related technologies for 10 megawatt-class
����� direct drive wind
generators under an award from the National Institute
����� of Science and Technology�s
Advanced Technology Program (ATP). The CRADA
����� and ATP programs are
intended to serve as a prelude to follow-on
����� programs aimed at
building and testing a full-scale prototype
����� superconductor wind
turbine, prior to commercialization.
���
����� Senior Vice President
and AMSC Superconductors General Manager Dan
����� McGahn said, �It is
important for our economy to embrace new clean
����� technologies that will
increase our energy independence and strengthen
����� our electricity infrastructure.
Superconductors are today proving their
����� tremendous power density
and efficiency advantages to electric utilities
����� and large power users.
This program brings those same benefits to power
����� generation and the
rapidly growing wind power market.�
���
����� Wind turbine power
ratings have been increasing steadily while the price
����� per megawatt has
declined, enabling wind power to achieve economic
����� parity with conventional
generation sources in prime wind locations. Due
����� to the limitations of
conventional technologies, however, the largest
����� wind turbine ratings top
out at approximately 6 MW due in part to
����� practical limitations on
the physical size and weight of the generators
����� that must be transported
over roads and supported on towers hundreds of
����� feet in the air.
���
����� �HTS is one of the
�disruptive technologies� needed to break through
����� wind power�s capacity
barrier and significantly reduce its cost of
����� energy,� McGahn said.
�We have formed strong ties with wind turbine
����� manufacturers around the
world, including TECO in Taiwan, Sinovel Wind
����� in China and Hyundai
Heavy Industries in Korea. Based on these
����� relationships, AMSC�s leadership
in superconductor technology, its
����� experience with HTS
rotating machines and AMSC Windtec�s proven
����� commercial wind turbine
design capabilities, we are uniquely equipped to
����� commercialize this
breakthrough technology.�
���
���� �According to industry research firm
Emerging Energy Research,
����� approximately $27
billion was spent on wind turbines in 2007. That
����� figure is expected to
double to over $55 billion annually by 2015.
���
����� About
����� American Superconductor
(NASDAQ: AMSC)
���
����� AMSC offers an array of
proprietary technologies and solutions spanning
����� the electric power
infrastructure � from generation to delivery to end
����� use. The company is a
leader in alternative
����� energy, providing proven,
megawatt-scale wind turbine designs and
����� electrical control
systems. The company also offers a host of Smart
����� Grid technologies for
power grid operators that enhance the
����� reliability, efficiency
and capacity of the grid, and seamlessly
����� integrate renewable
energy sources into the power infrastructure. These
����� include superconductor
power cable systems, grid-level surge protectors
����� and power
electronics-based voltage stabilization systems. AMSC�s
����� technologies are protected
by a broad and deep intellectual property
����� portfolio consisting of
hundreds of patents and licenses worldwide. More
����� information is available
at www.amsc.com.
���
����� American Superconductor
and design, Revolutionizing the Way the World
����� Uses Electricity, AMSC,
Powered by AMSC, D-VAR, dSVC, PowerModule,
����� PQ-IVR, Secure Super
Grids, Windtec and SuperGEAR are trademarks or
����� registered trademarks of
American Superconductor Corporation or its
����� subsidiaries. All other
brand names, product names or trademarks belong
����� to their respective
holders. The Windtec logo and design is a registered
����� European Union Community
Trademark.
���
����� Any statements in this
release about future expectations, plans and
����� prospects for the
company, including our expectations regarding the
����� future financial
performance of the company and other statements
����� containing the words
"believes," "anticipates," "plans,"
"expects,"
����� "will" and
similar expressions, constitute forward-looking statements
����� within the meaning of
the Private Securities Litigation Reform Act of
����� 1995. There are a number
of important factors that could cause actual
����� results to differ
materially from those indicated by such
����� forward-looking
statements. Such factors include: uncertainties
����� regarding the company's
ability to obtain anticipated funding from
����� corporate and government
contracts, to successfully develop, manufacture
����� and market commercial
products, and to secure anticipated orders; the
����� risk that the
increasingly uncertain global economic conditions could
����� result in customers
delaying or reducing purchases of our products; the
����� risk that a robust
market may not develop for the company's products;
����� the risk that strategic
alliances and other contracts may be terminated;
����� the risk that certain
technologies utilized by the company will infringe
����� intellectual property
rights of others; and the competition encountered
����� by the company.
Reference is made to these and other factors discussed
����� in the "Risk
Factors" section of the company's most recent quarterly or
����� annual report filed with
the Securities and Exchange Commission. In
�� ���addition, the forward-looking statements
included in this press release
����� represent the company's
views as of the date of this release. While the
����� company anticipates that
subsequent events and developments may cause
����� the company's views to
change, the company specifically disclaims any
����� obligation to update
these forward-looking statements. These
����� forward-looking
statements should not be relied upon as representing the
����� company's views as of
any date subsequent to the date this press release
����� is issued.
���
���
Source: American Superconductor Corporation
����� American Superconductor
Corporation (NASDAQ: AMSC)Jason Fredette,
����� 978-842-3177Director of
Investor & Media Relationsjfredette@amsc.com
���
���
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