|
New
Release -- Superconductor Week does not edit or endorse the following
news release:
Intermagnetics' SuperPower Subsidiary Awarded
$10.7 Million Contract
LATHAM, NY, Jan. 4: Intermagnetics General Corporation's (NASDAQ:IMGC)
Energy Technology subsidiary, SuperPower, Inc., today announced that it has been
awarded a $10.7 million follow-on contract from the U. S. Department of Defense
(DOD) Title III program to partially underwrite the cost of R&D for
second-generation (2G) high-temperature superconducting (HTS) wire development.
The Title III program was established by the DOD, and is co-funded by the U. S.
Department of Energy (DOE), with the objective of developing domestic 2G HTS
wire manufacturing capability that can provide sufficient high performance wire
quantities for near-term military and commercial applications.
Glenn H. Epstein, chairman and chief executive officer of Intermagnetics, said,
"The U.S. military, in conjunction with the DOE, is particularly aware of the
enormous reliability, environmental and economic benefits that will result from
the transition to HTS technology. This Title III funding will be a significant
factor in enabling SuperPower, a U.S. company, to continue the excellent
progress it has made toward producing long lengths of high performing wire in a
reasonable timeframe and at an acceptable cost."
The 50% cost-share funding is being provided through the Air Force Research
Laboratory (AFRL) at Wright-Patterson Air Force Base in Ohio. SuperPower expects
its R&D expenses under Phase 3 of the Title III program, that will run through
June 2008, to be approximately $10.7 million, of which $5.35 million will be
covered by Title III cost-share funds. This is the latest in a series of Title
III contracts that brings cumulative Title III commitments for SuperPower to
$14.2 million.
Philip J. Pellegrino, president of SuperPower said, "Phase 3 of the program will
build on the successful results achieved in Phases 1 and 2 that included
scale-up of each of SuperPower's manufacturing processes to 200-meter lengths,
with performance of 100 amps per centimeter width and the establishment of a
complete quality control (QC) operation. Thanks in part to the Title III
program, SuperPower expects to supply nearly 10,000 meters of 2G wire to
Sumitomo Electric Industries in 2006 for the fabrication of the world's first 2G
HTS cable, which will be part of the HTS Cable Project being installed in the
distribution system of National Grid by SuperPower in Albany, New York.
Expectations for Phase 3 of the Title III program include increasing wire length
to greater than 1,000 meters and improving critical current to more than 500
amps per centimeter width. These results are expected to be achieved by refining
on-line high volume production equipment, by continuing the underlying R&D to
improve product performance and by further refining QC operations."
Return
to industry news releases |
