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New
Release -- Superconductor Week does not edit or endorse the following
news release:
American Superconductor's
SuperVAR Dynamic Synchronous Condenser Wins Award for 'Technology in the Service
of Science' from IEEE Spectrum and EE Times
Washington, DC, Apr. 4: American Superconductor
Corporation (NASDAQ:
AMSC), a leading energy
technologies company, and the Tennessee Valley Authority (TVA), the nation's
largest public power provider, were jointly honored by IEEE Spectrum and EE
Times magazine at the second Annual Creativity in Electronics (ACE) Awards Gala.
AMSC's SuperVAR® dynamic synchronous condenser, the world's first commercial
high temperature superconductor product to be utilized on the electric
transmission grid, won the award for Technology in the Service of Science.
The award citation stated that
SuperVAR was "the technology having the greatest potential to provide the most
overall benefit to humankind." SuperVAR -- a breakthrough grid reliability
product developed by American Superconductor in collaboration with TVA --
stabilizes grid voltages, increases the reliability of electricity, and can help
maximize power transmission capacity to break grid bottlenecks.
"Demand for more reliable,
digital grade electric power continues to increase around the world in order to
meet the requirements for increased industrial productivity and business growth.
Our new SuperVAR solution provides a powerful new way to achieve these growth
objectives," said Greg Yurek, chief executive officer of American
Superconductor. "Superconductivity is delivering on its promise and is making
immediate and positive contributions today. I am delighted to accept this award
on behalf of American Superconductor and our employees."
American Superconductor and the
TVA's work on the SuperVAR dynamic synchronous condenser was recognized with a
prestigious R&D 100 award in October 2005 from R&D Magazine. The product was
also recognized in January 2006 as one of the five featured winners in IEEE
Spectrum's "Winners and Losers 2006" as well as the "Most Promising
Pre-commercial Technology" at the 5th Annual Platts Global Energy Awards in
2003.
In January of this year, AMSC
announced the release to production of two SuperVAR machines following the
rigorous, accelerated life test of its advanced prototype SuperVAR at a TVA
electrical substation serving a steel mill operated by the Hoeganaes Corporation
in Gallatin, Tennessee. The advanced prototype successfully handled well over
five million voltage sags and surges (2,300 steel mill melt cycles) from the
time that it was first synchronized with the TVA grid in January 2005. The
SuperVAR machine provided voltage stabilization for TVA's grid by injecting or
absorbing reactive power to minimize the sudden and large voltage fluctuations
caused by the steel mill during operation of its arc furnace.
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