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news release:
AMSC Receives Series of PQ-SVC(TM) Orders from
Industrial Sector
-- Recent Acquisition of
Power Quality Systems, Inc. Yields Four
New Customers in Diverse Markets
-- Orders Represent Approximately $1.5 Million in
Fiscal 2007
Revenues
Westborough, MA,
11 July 2007:
American Superconductor
Corporation (NASDAQ:
AMSC), a leading energy
technologies company, today announced a series of orders for its Power Quality
Static VAR Compensator, or PQ-SVC(TM), offering. The PQ-SVC solution was added
to AMSC's product suite through the recent acquisition of Pennsylvania-based
Power Quality Systems, Inc. This product eliminates voltage sags and flicker,
giving electric distribution companies and manufacturing operations a
cost-effective way to safely connect large electrical loads to the local power
grid.
Since closing the PQS acquisition on April 27,
2007, AMSC has received orders totaling approximately $1.5 million from four new
customers in diverse markets:
-- A steel company based
in Pennsylvania that is using the PQ-SVC
solution in a rolling mill
application;
-- A Canadian oil and gas company that is using PQ-SVC
solutions
for two of its natural gas pipelines
in Texas;
-- A Wisconsin-based consumer goods company that is
using the
PQ-SVC solution to provide
volt-amp-reactive (VAR) support at
a substation feeding a university
campus in New Orleans; and
-- A diversified mining company based in Switzerland
that is
using the PQ-SVC at a copper mine in
Ontario, Canada.
"We are pleased with the rapid customer
acceptance of our PQ-SVC solution, which combines PQS's proprietary thyristor
switch technology with AMSC's proprietary controls technology to create a
powerful new industrial power quality product," said Chuck Stankiewicz,
executive vice president and general manager of AMSC Power Systems. "We are
seeing strong interest across a broad spectrum of industries for this offering.
In addition, our PQS acquisition is enabling us to offer utilities large-scale
SVCs that have lower operating costs and at competitive prices compared with
other offerings on the market."
AMSC's PQ-SVC solution is highly portable and
modular, and can be modified in the field, reducing costs normally associated
with upgrades. These products routinely solve problems caused by starting large
motors, metal shredders and crushers; and operating sawmills, pump-or-pipeline
stations, shipyards, coalmines, feed plants or kindred processes. In addition,
the PQ-SVC offering can also cure arc furnace flicker and stabilize transmission
lines. For more information about AMSC's industrial power quality solutions,
visit:
http://www.amsc.com/products/powerQuality/index.cfm.
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