|
American Superconductor
Corporation has added a news release to its Investor Relations website.
Title:
China's CSR-ZELRI Orders 100 Sets of Wind Turbine Core Electrical
Components from AMSC
Date: 1/22/2009 7:30:00
AM
For a complete listing
of our news releases, please click here
CSR-ZELRI Accelerates Production of 1.65 Megawatt Wind Turbines
DEVENS,
Mass.--(BUSINESS WIRE)--Jan. 22, 2009--American Superconductor Corporation
(NASDAQ: AMSC), a leading energy
technologies company, today announced that it has received a
multi-million-dollar order for 100 sets of its wind turbine core
electrical components from China's CSR Zhuzhou
Electric Locomotive
Research Institute Co., Ltd ("CSR-ZELRI"). The company
will use the
components in 1.65 megawatt (MW) wind turbines designed by AMSC's wholly
owned AMSC
Windtec(R) subsidiary. Under the terms of
the contract, AMSC expects
to ship all of the core electrical components by the end of calendar
2009 to support CSR-ZELRI's increased
production of wind turbines.
AMSC's core electrical components include
the company's proprietary PowerModule(TM)
PM3000W power converter and enable reliable, high-performance wind
turbine operation by controlling power flows, regulating voltage,
monitoring system performance and controlling the pitch of wind
turbine
blades to maximize efficiency. Introduced
in late 2008, the PM3000W is a fully programmable, flexible and
modular power converter developed specifically for wind turbines
with
power ratings up to 6 MW.
"China's wind industry continues to move forward at an
aggressive pace
through the global economic downturn, and further growth is
projected
for the next decade," said Du Jinsong,
general manager of CSR-ZELRI's
wind power business unit. "AMSC Windtec's wind turbine designs,
localization and supply chain support and proven power electronics
allowed us to quickly enter this rapid growth market and aid in
meeting
China's objective to increase electricity supply while also reducing
carbon emissions."
Based in Zhuzhou City in the Hunan
province of China, CSR-ZELRI first
began working with AMSC Windtec
in January 2007. Under the terms of the
original license agreement, AMSC also received the right to provide
CSR-ZELRI with core electrical components for all of its 1.65 MW
wind
turbines. Including this latest order,
CSR-ZELRI has ordered more than
170 sets of core electrical components from AMSC to date.
"CSR-ZELRI has done a tremendous job of ramping up production
of high
quality wind turbines in a very short time," said Greg Yurek, founder
and chief executive officer of AMSC. "We
expect CSR-ZELRI to continue
its rapid growth and to take a significant share of the Chinese wind
turbine market in the years ahead."
According to the Chinese
Wind Energy Association, China will grow its base of wind power from
5.9 gigawatts (GW) at the end of 2007 to
more 10 gigawatts in 2008. In
its Global
Wind Energy Outlook 2008 report, the Global
Wind Energy Council estimates that China's installed base could grow
to 101 GW by 2020 under its "moderate" outlook scenario
and 201 GW under
its "advanced" scenario.
About
American Superconductor (NASDAQ: AMSC)
AMSC is a leading energy technologies company offering an array of
solutions based on two proprietary technologies: programmable power
electronic converters and high temperature
superconductor (HTS) wires.
The company's products, services and system-level solutions enable
cleaner, more efficient and more reliable generation, delivery and
use
of electric power. AMSC is a leader in
alternative energy, offering
licensed wind turbine designs and
electrical systems. As the world's
principal supplier of HTS wire, the company is enabling a new
generation
of compact, high-power electrical products, including power cables,
grid-level surge protectors, Secure Super Grids(TM) technology,
motors,
generators, and advanced transportation and
defense systems. AMSC also
provides utility and industrial customers worldwide with voltage
regulation systems that dramatically enhance power grid capacity,
reliability and security, as well as
industrial productivity. The
company'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 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.
CONTACT: American Superconductor Corporation (NASDAQ: AMSC) Jason Fredette, 978-842-3177 Director of Investor & Media Relations jfredette@amsc.com Source: American Superconductor Corporation |