12.7.2007: Meldung: AMSC Receives Series of PQ-SVC(TM) Orders
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.
AMSC (American Superconductor Corporation - NASDAQ: AMSC) is a leading energy technologies company, offering an array of solutions based on two proprietary technologies: programmable power electronic converters and high temperature superconductor (HTS) wires. The company"s products, services and system-level solutions enable cleaner, more efficient and more reliable generation, delivery and use of electric power. AMSC is a leader 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, the company is enabling a new generation of compact, high-power electrical products, including power cables, grid-level surge protectors, Secure Super Grids(TM), motors, generators, 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, PQ-SVC, Secure Super Grids, Windtec and SuperGEAR are trademarks or registered trademarks of American Superconductor Corporation or its subsidiaries.
Any statements in this release about future expectations, plans and prospects for the company, including our expectations regarding the future financial performance of the company and other 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; and the competition encountered by the company. Reference is made to these and other factors discussed in the "Risk Factors" 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.
American Superconductor Corporation (NASDAQ: AMSC - News)
Jason Fredette, 508-621-4177
Director of Investor & Media Relations