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American Superconductor
Corporation has added a news release to its Investor Relations website.
Title: AMSC Receives Four D-VAR(R) Orders
for Wind Farms on Three Continents
Date: 5/20/2008 7:30:00
AM
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-- Wind Farms in Australia, Canada and the United Kingdom to Utilize AMSC's Grid Interconnection Solution -- Market for Grid Interconnection Solutions Expanding With Growth in Worldwide Installed Base of Wind Power -- Company to Host "Connecting With the Wind(TM)" Exhibit at WINDPOWER 2008 Conference & Exhibition in Houston
DEVENS, Mass.--(BUSINESS
WIRE)--May 20, 2008--American
Superconductor Corporation
(NASDAQ: AMSC), a leading energy
technologies company, today
announced that it has received orders for
its D-VAR(R) solution for grid
interconnection of wind farms located
in Australia, Canada and the
United Kingdom. The wind farms will
utilize wind power systems from
three different global wind turbine
manufacturers.
The D-VAR systems, which
will provide voltage support for more
than 200 megawatts (MW) of
aggregated power, will be delivered to all
four wind farms within the next
12 months. AMSC now has an installed
base and orders for solutions to
serve approximately 7,350 MW of wind
power worldwide, an increase of
more than 120 percent over the past 12
months.
AMSC's proprietary D-VAR
systems enable wind farm developers to
meet the national and provincial
requirements adopted in many
countries for connecting wind
farms to power grids. AMSC customers
utilize D-VAR grid
interconnection solutions to provide voltage
regulation and power factor
correction, along with post-contingency
assistance to prevent voltage
collapse on the power grid.
"Our D-VAR
solutions are being used around the world to safely
connect wind farms to electric
power grids," said Chuck Stankiewicz,
executive vice president and
general manager of AMSC Power Systems.
"These solutions mitigate
voltage instabilities at wind farms to
enable wind farm owners and
operators to meet dramatically varying
grid interconnection
requirements around the world. This ensures the
quality of the power being
delivered to customers and in many cases
improves the reliability of the
local power grid."
Worldwide wind power
capacity increased 27 percent in 2007 to more
than 94 gigawatts (GW),
according to a Global Wind Energy Council
(GWEC) report issued in April
2008. The global wind energy market,
according to the report, is
expected to grow an additional 155 percent
to 240 GW of total installed
capacity by 2012.
In addition to the
D-VAR(R) grid interconnection solution, AMSC
offers a range of proprietary
products and services for the growing
wind power market. From June
1-4, 2008, the company will host a
"Connecting With the
Wind" exhibit at the WINDPOWER 2008 Conference &
Exhibition organized by the
American Wind Energy Association. The
event will be held at the George
R. Brown Convention Center in
Houston, TX. The exhibit,
located at booth # 1452, will feature the
company's full suite of solutions
for the wind industry ranging from
the D-VAR solution to AMSC
Windtec(TM) turbine designs and consulting
services and wind turbine
electrical components that utilize the
company's proprietary
PowerModule(TM) power converter.
To learn more about
AMSC's product offerings for the wind
industry,
please visit
http://www.amsc.com/products/applications/windEnergy/index.html.
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 |