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High Temperature Superconductor Power Grid Stabilization Product Recognized for Technical Excellence -- Selected for R&D 100 Award
Westborough, MA, Sept. 13: American Superconductor Corporation (NASDAQ:AMSC)
, a leading electricity solutions company, and the Tennessee Valley Authority, the nation's largest public power provider, today announced that the
SuperVAR(R) dynamic synchronous condenser has been selected by R&D Magazine as one of the most technologically significant products introduced over the past year. The SuperVAR dynamic synchronous condenser, which has been recognized for this achievement with the prestigious R&D 100 Award, is a breakthrough product that stabilizes grid voltages, increases service reliability and can help maximize transmission capacity.
Developed by American Superconductor in collaboration with TVA, SuperVAR machines are dynamic synchronous condensers, which are rotating machines, much like motors and generators. They utilize superconductor technology and serve as "shock absorbers" for the grid, dynamically generating or absorbing reactive power (measured in volt-amperes-reactive or VARs).
"In today's digital economy, keeping voltage levels constant and stable is vital," said TVA Executive Vice President of Transmission/Power Supply Terry Boston. "That's what our customers expect, and we believe that's what this new technology will help us deliver. SuperVAR machines will help protect the transmission system from voltage fluctuations and help ensure TVA's continued delivery of affordable, reliable power to the people of the Tennessee Valley."
TVA installed American Superconductor's advanced prototype SuperVAR synchronous condenser at an electrical substation serving a steel mill operated by the Hoeganaes Corporation in Gallatin, Tennessee in August 2004. The SuperVAR machine helps stabilize voltage on 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.
"We are delighted to accept this award that recognizes the importance of high temperature superconductor technology in increasing the reliability of electric power transmission," said Greg
Yurek, president and CEO of American Superconductor. "This is particularly timely since the Energy Policy Act of 2005, recently signed by President Bush, highlights the need for increased investment in the reliability and modernization of the nation's transmission grid, including mandatory reliability standards. We expect SuperVAR machines to play a substantial role in meeting the new and enforceable reliability standards."
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