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American Superconductor
Corporation has added a news release to its Investor Relations website.
Title: AMSC Receives $18 Million Order from
Sinovel Wind for 3 MW Wind Turbine Core Electrical Components
Date: 4/2/2008 9:11:00
AM
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Core Electrical
Components to be Delivered to Sinovel Over Next 15
Months
DEVENS, Mass.--(BUSINESS
WIRE)--April 2, 2008--American
Superconductor Corporation
(NASDAQ: AMSC), a leading energy
technologies company, today
announced that it has received an order
worth more than $18 million for
wind turbine electrical systems and
core electrical components from
Beijing-based Sinovel Wind Corporation
Limited. Under the terms of the
contract, AMSC will deliver these
products to Sinovel over the
next 15 months. The systems and
components will be deployed in 3
megawatt (MW) wind turbines that have
been developed under a contract
initiated with AMSC Windtec, a wholly
owned subsidiary of AMSC,
approximately one year ago.
In March 2007, AMSC
announced that it signed a
multi-million-dollar contract
with Sinovel Wind under which 3 MW and 5
MW wind turbines would be
developed. Sinovel is continuing to
manufacture and deploy the 1.5
MW wind turbines it began producing in
2005. The 1.5 MW wind turbines
also utilize core electrical components
produced by AMSC.
The Global Wind Energy
Council (GWEC) recently reported
"breathtaking" growth
in Asia's wind energy markets, where over a
quarter of all new capacity in
2007 was installed. China alone added
more than 3.4 GW of wind energy
capacity during the year, bringing its
total installed capacity to more
than 6 GW. The China Wind Power
Report 2007 - published jointly
by the GWEC, Greenpeace and the
Chinese Renewable Energy
Industry Association - predicts that China
could lead the world in wind
energy development and play a larger role
in combating climate change. The
report projects China's installed
wind power capacity will grow to
10 MW by 2010 and could exceed 120 GW
by 2020.
AMSC's wind turbine
electrical systems and core electrical
components include the company's
proprietary PowerModule(TM) power
converters. They 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.
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
grid interconnection solutions
as well as licensed wind energy 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, SuperVAR, D-VAR, DVC,
PQ-IVR,
PowerModule, Secure Super Grids and Windtec are trademarks or
registered
trademarks of AMSC.
Any statements in this
release about future expectations, plans
and
prospects for the company, including 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; the competition encountered by
the
company, including several large Japanese companies. Reference is
made
to these and other factors discussed in the "Management's
Discussion
and Analysis of Financial Condition and Results of
Operation"
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 |