QualityStocks would like to highlight American Superconductor Corp. (NASDAQ: AMSC). AMSC offers an array of proprietary technologies and solutions spanning the electric power infrastructure – from generation to delivery to end use. The company is a leader in renewable energy, providing proven, megawatt-scale wind turbine designs and electrical control systems. The company also offers a host of Smart Grid technologies for power grid operators that enhance the reliability, efficiency and capacity of the grid, and seamlessly integrate renewable energy sources into the power infrastructure.
In the company’s news Friday,
American Superconductor Corp. issued an update on its recent performance and accomplishments in the wind power and power grid markets, including its achievement of nearly $100 million in new contracts since the start of the company’s fiscal year on April 1, 2011.
Since the beginning of April, the company has signed contracts with wind turbine manufacturers in China, India and Korea. It has also received orders for its grid interconnection and high voltage stability solutions in the U.S. and Europe, reflecting its global market reach.
“We are pleased to announce these key accomplishments across the Americas, Europe and Asia and our Wind and Grid solutions,” AMSC president and CEO Daniel McGahn stated in the press release. “Through our best-in-class wind turbine designs, superior electrical control systems, and highly efficient transmission and distribution products, AMSC solutions are serving as a catalyst for customer success and providing cleaner, smarter and more efficient energy for the world.”
In China, AMSC inked a multi-year deal to deliver wind turbine ECS to a subsidiary of state-owned Beijing JINGCHENG Machinery Electric Holding Co. Ltd, which AMSC plans to ship from late 2011 through 2014.
In India, the company signed a contract to deliver wind turbine ECS to Inox Wind Ltd., with shipments expected to begin in late 2011 and run through 2012.
AMCS also signed a contract in South Korea, in which the company will provide wind turbine core electrical components to Hyundai Heavy Industries (HHI) later this year.
AMSC’s Grid solutions allow for the developers of wind farm and solar power plant to integrate renewable power into the grid and allow electric utilities to optimize their transmission and distribution networks.
In this arena, AMSC signed a multi-million dollar contract to provide a D-VAR® system for Keys Energy Services, a public power utility in Florida.
The company also inked several new grid integration solution contracts in Europe, related to wind farms and solar power plants; in this instance, AMSC will integrate more than 150 MW of renewable energy into the grid.
In South Korea, AMSC made its first Amperium™ wire shipment to LS Cable & System under a multi-year supply agreement announced in October 2010.
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Forward-Looking Statement:
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