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New
Release -- Superconductor Week does not edit or endorse the following
news release: AMSC Receives
D-VAR(R) Orders for Australian Mining and Wind Farm Operations
Westborough, MA, 16 May 2007:
American Superconductor Corporation, a leading energy technologies
company, announced today it has received two new orders for its D-VAR(R) voltage
regulation solution for use in Australian mining and wind farm operations.
AMSC is supplying a D-VAR system to a copper-gold
mine in South Australia to mitigate power fluctuations stemming from the mining
operation. Without AMSC's D-VAR system, voltage fluctuations caused by motor
starts that occur during the mine's operation would create severe power
disturbances for the local utility. Delivery of the system is scheduled for the
second half of calendar 2007.
This order represents AMSC's fourth order for
voltage regulation solutions in the industrial market. Previous orders include
two semiconductor fabrication facilities in the U.S., including Micron
Technology's operations in Boise, Idaho and a mining operation in Canada. To
read a case history of AMSC's power quality solution implemented at the Micron
Technology semiconductor fab, visit
http://www.amsuper.com/documents/MCRN_CS_0207_A4_FINAL.pdf.
"Adoption of our D-VAR solutions in the
industrial sector to enhance productivity is in the early stages of what we
believe will be a substantial area of growth," said Greg Yurek, founder and CEO
of AMSC. "We anticipate that sales to industrials in the next 12 months and
beyond will add to the revenue growth we are already achieving in the wind and
electric utility sectors."
The company also reported today that it received
a follow-on D-VAR order from Suzlon Energy Australia Pty. Ltd. to meet standards
for interconnection of a wind farm to the power grid. This system will be
installed along with two other AMSC D-VAR units at a utility substation
connecting Snowtown Wind Farm with the power grid in South Australia. The wind
farm is owned by TrustPower of New Zealand and consists of 42 Suzlon S88 2.1
megawatt (MW) wind turbine generators, for a total capacity of 88.2 MW.
In late 2006, Suzlon ordered five D-VAR systems
that will be shipped later this year and will be employed at Snowtown and
Hallett Wind Farm, also located in Australia. AMSC's solution will provide
voltage regulation, power factor correction and voltage ride-through for the
wind farms in accordance with specifications set forth by the local utility and
regulatory body. Delivery of this most recently ordered system is expected in
the second half of calendar 2007.
Snowtown will be the 28th wind farm worldwide and
the third wind farm in Australia to utilize AMSC's D-VAR systems. AMSC will be
serving 342 MW of wind power in Australia alone, which will represent
approximately 28 percent of the 1,221 MW of capacity expected to be on line by
the end of 2007, according to BTM Consult. AMSC now has an installed base and
orders for D-VAR and PowerModule(TM) solutions to serve more than 3,300 MW of
wind power worldwide.
About AMSC
AMSC (American Superconductor Corporation -
NASDAQ: AMSC) is a leading energy technologies company. The company develops and
sells a wide range of products and solutions based on power electronic systems
and high temperature superconductor (HTS) wires that dramatically improve the
efficiency, reliability and quality of electricity during its generation,
transmission, distribution and use. The company is a dominant force 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, AMSC is enabling a new generation of compact, high-power electrical
products, including motors, generators, power cables, grid-level surge
protectors, 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.amsuper.com.
American Superconductor and design,
Revolutionizing the Way the World Uses Electricity, AMSC, Powered by AMSC,
SuperVAR, D-VAR, DVC, PQ-IVR, PowerModule 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.
SOURCE: American Superconductor Corporation
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