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New
Release -- Superconductor Week does not edit or endorse the following
news release: American
Superconductor and Shanghai Electric Cable Research Institute Announce Strategic
Business Alliance
Westborough, MA, October 31, 2006:
American Superconductor
Corporation (Nasdaq:AMSC),
a leading energy technologies company, announced today the signing of a
strategic business alliance with the Shanghai Electric Cable Research Institute
(SECRI). SECRI is the leading research, development and standardization
institution for China's wire and cable industry and is one of two centers that
test and certify power cables for China. This new alliance will develop and
promote the use of high temperature superconductor (HTS) power cables in China
to help transmit and distribute increasing quantities of electric power needed
to support the growing Chinese economy.
Under the terms of the
business alliance, AMSC(TM) will be the preferred supplier of HTS wire to SECRI
and the recommended preferred HTS wire supplier to its cable manufacturing
licensees for all future superconductor cables. In addition, AMSC will provide
consulting services to SECRI for its development of HTS power cable systems.
SECRI will also help introduce AMSC's D-VAR(R) power grid solutions to key
decision makers throughout China.
SECRI plans to develop and certify HTS power cable systems
for use by its constituent members, which are power cable manufacturers
throughout China. As a first step toward this objective, SECRI will manufacture
and test in its advanced facilities a 30-meter-long, 110,000 volt prototype
transmission voltage HTS power cable utilizing AMSC's HTS wire. The next step is
an installation of HTS cables in the power grid, most likely in Shanghai.
"We are extremely pleased that SECRI has selected American
Superconductor as its partner for the advancement of HTS technology in China,"
said Greg Yurek, chief executive officer and founder, American Superconductor. "SECRI
has several major roles in the Chinese cable industry. It provides testing and
certification of power cables and is a leader in advanced cable designs and
technologies. We see this agreement as the path to near-term adoption of HTS
products in the expanding Chinese energy market."
"East Asia faces the dilemma of rapidly growing electricity
demand and an antiquated, over- tilized, under-invested power grid," said
Subramanian Jayaraman, Energy Analyst for Frost & Sullivan. "China alone
accounted for close to 41% of the world's energy growth in 2004. This rapid
growth in demand in China is expected to continue for the near term and, as a
result, new and radical solutions must be examined. It is important that the
Chinese government is taking the necessary steps by introducing reforms to
address this issue. New technologies such as the high temperature
superconductors manufactured by American Superconductor offer a very promising
solution to East Asia's growing grid problems. While technologies like composite
conductors and FACTS devices such as D-VAR are vital for improving the grid, HTS
technology is the best bet for the future in reducing losses, improving capacity
margins and also improving the reliability of the entire grid."
About Shanghai Electric Cable Research Institute
Shanghai Electric Cable Research Institute (SECRI) was
established in 1957 under the ministry of the Machine Building Industry as a
center for scientific research, design, testing, information and trade affairs
of the China Wire and Cable Industry. In 1999, SECRI was transformed into a
Scientific and Technological enterprise under the State owned Assets Commission
of Shanghai. Principle activities include R&D and processing of conductors and
cables for High and Extra High Voltage, varieties of electrical installations
and equipment for wires and cables, communication and optical fiber cables, and
the development and enactment of the wire and cable standards in China. The
Testing and Inspection Station for Cable & Wire (TICW) is recognized and
accredited by international standards institutions worldwide, facilitating the
international exchange and acceptance of product-safety test results among
participating institutes. SECRI is also involved in the design and manufacture
of specialized cable machinery and design and contracting of cable factory
projects.
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