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American Superconductor
Corporation has added a news release to its Investor Relations website.
Title: World's First Transmission Voltage Superconductor Cable
Energized in LIPA's Power Grid
Date: 4/30/2008 7:30:00
AM
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-- Cable System Able to Carry 574 Megawatts of Power to Local Residents and Businesses -- Industry/Government Partnership Takes Major Step Forward in Development of Electricity Superhighways -- Very Low Impedance Characteristics Enable Self-Adjusting, Secure Power Networks
HAUPPAUGE,
N.Y.--(BUSINESS WIRE)--April 30, 2008--Long Island
Power Authority (LIPA) and
American Superconductor Corporation
(NASDAQ: AMSC) today announced
the operation of the world's first high
temperature superconductor (HTS)
power transmission cable system in a
commercial
power grid. The 138,000 volt (138 kV) system, which
consists
of three individual HTS power cable phases running in
parallel,
was energized on April 22, 2008 and is operating
successfully
in LIPA's Holbrook transmission right of way. The cable
system,
including six outdoor terminations for connection to LIPA's
grid,
was designed, manufactured and installed by Nexans, the
worldwide
leader in the cable industry. The cable utilizes HTS wire
produced
by AMSC, which also is the prime contractor for the project.
The
2,000-foot-long cable system is cryogenically cooled using a
liquid
nitrogen refrigeration system from Air Liquide.
The Department of Energy
(DOE) previously funded $27.5 million of
the
$58.5 million total project cost, which advances the Department's
ongoing
efforts, through the Office of Electricity Delivery and Energy
Reliability,
to modernize the Nation's electricity delivery
infrastructure.
The cable system
contains hair-thin, ribbon-shaped HTS wires that
conduct
150 times the electricity of similar sized copper wires. This
power
density advantage enables transmission-voltage HTS cables to
utilize
far less wire and yet conduct up to five times more power - in
a
smaller right of way - than traditional copper-based cables. When
operated
at full capacity, the new HTS cable system is capable of
transmitting
up to 574 megawatts (MW) of electricity, enough to power
300,000
homes. HTS power cables are envisioned by the DOE as a
component
of a modern electricity superhighway - one that is free of
bottlenecks
and can readily transmit power to customers from remote
generation
sites, such as wind farms.
HTS cables conduct
electricity with virtually no electrical
losses,
meaning more of the power generated at power plants gets to
customers.
Conventional power grids typically lose seven to 10 percent
of
power due to the inherent electrical resistance experienced with
copper
wires. The higher electrical efficiency of HTS cables provides
a
means to reduce carbon emissions while meeting the growing demand
for
electric power in the digital age.
Alternating current HTS
power cables have inherently low
impedance,
which means they can draw power flow away from overtaxed
conventional
cables or overhead lines, thereby relieving network
congestion.
They can also be specially designed to have very low
impedance
(VLI) characteristics. When deployed in strategic locations,
VLI
superconductor cables, such as the one currently operating in
LIPA's
power grid, can rapidly absorb additional power flows when
conventional
power grid components are damaged during electrical
storms
or other events. Because HTS cables are self-adjusting, they
are
expected to become core components of intelligent, more secure
power
networks.
LIPA is the third
electric utility in the United States to have
deployed
an HTS cable system in its power grid. In the summer of 2006,
National
Grid and American Electric Power energized distribution
voltage
HTS power cable systems in Albany, New York and Columbus,
Ohio,
respectively. At nearly half a mile in length, LIPA's HTS cable
system
is the longest of the three. It also is the first to operate at
transmission
voltages. After an initial operational period and
following
performance and economic reviews of the cable system, LIPA
plans
to retain the new superconductor cable as a permanent part of
its
grid.
In mid-2007, AMSC
announced that it would lead the development of
an
extension of LIPA's HTS cable system. The new cable will be powered
by
AMSC's second generation (2G) HTS wire, branded as 344
superconductors.
AMSC, who will again serve as the project's prime
contractor
and wire supplier, has chosen Nexans as the cable
manufacturer
and Air Liquide as the provider of the cryogenics system.
The
DOE plans to provide up to $9 million in cost sharing for the $18
million
project.
A commissioning ceremony
will soon be held at the site of the HTS
cable
system.
DOE's Office of
Electricity Delivery and Energy Reliability (OE)
OE's mission is to lead
DOE's national efforts to modernize the
electric
grid; enhance security and reliability of the energy
infrastructure;
and facilitate recovery from disruptions to energy
supply.
For more information, visit: http://www.oe.energy.gov/
About Long Island Power
Authority
LIPA, a non-profit
municipal electric provider, owns the retail
electric
Transmission and Distribution System on Long Island and
provides
electric service to more than 1.1 million customers in Nassau
and
Suffolk counties and the Rockaway Peninsula in Queens. LIPA is the
2nd
largest municipal electric utility in the nation in terms of
electric
revenues, 3rd largest in terms of customers served and the
7th
largest in terms of electricity delivered. In 2006, LIPA
outperformed
all other overhead electric utilities in New York State
in
all three major reliability categories. LIPA does not provide
natural
gas service or own any on-island generating assets. More
information
about LIPA can be found online at: http://www.lipower.org.
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, PQ-SVC, Secure Super Grids, Windtec and SuperGEAR
are
trademarks or registered trademarks of American Superconductor
Corporation
or its subsidiaries.
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.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5671510 CONTACT: American Superconductor Corporation (NASDAQ: AMSC) Jason Fredette, 978-842-3177 Director of Investor & Media Relations jfredette@amsc.com SOURCE: American Superconductor Corporation |