American Superconductor Announces Commercial Release of New Power Electronic Switch.Business/Technology Editors NUREMBERG, Germany--(BUSINESS WIRE)--June 19, 2001 Proprietary 125 kilowatt PowerModule Unveiled at European Power Electronics Show American Superconductor American Superconductor is a technology company based in Westborough, Massachusetts specializing in the design and manufacture of superconducting wires and power converters. It is listed on Nasdaq under the symbol AMSC. Corporation (Nasdaq: AMSC AMSC Army Management Staff College AMSC American Mobile Satellite Corporation AMSC American Miniature Schnauzer Club AMSC Area Maritime Security Committee AMSC Acquisition Method Suffix Code AMSC Advanced Missile Signature Center ) announced today at the PCIM PCIM Policy Core Information Model (IPSec) PCIM Power Conversion and Intelligent Motion (International Conference on Power Control) - Europe Power Electronics and Power Quality Show the commercial release of its 125-kilowatt PowerModule(TM) (PM-125). The PM-125 is a modular power electronic "switch" that replaces conventional power converters, inverters and related auxiliary components with a single, integrated electronic device. It is programmable for power switching, modulation and control in a wide array of applications, including fuel cells, wind turbines, solar cells, microturbines, flywheels and uninterruptible power supplies See UPS. (hardware) Uninterruptible Power Supply - (UPS) A battery powered power supply unit that is guaranteed to provide power to a computer in the event of interruptions in the incoming mains electrical power. . "The PM-125 is the first in our new line of proprietary power electronic switches and is a direct response to customer needs," said Dr. Greg Yurek, chief executive officer. "We expect to expand the product line with the release of PowerModules with power ratings from 50 to 1,000 kilowatts per module by March 2002. The modular design In the context of systems engineering, modular design — or "modularity in design" — is an approach aiming to subdivide a system into smaller parts (modules) that can be independently created and then used in different systems to drive multiple functionalities. , which includes programmable controls and fiber optic communications, allows us to create power switches with ratings from 50 kilowatts to tens of megawatts at a low price point." The PM-125 PowerModule is a stand-alone device that integrates power electronics, embedded controls, power supplies, cooling capability, and support functions into a single compact, programmable switch. It is based on a proprietary printed circuit board design that allows assembly of the switch by automated wave-soldering techniques, yielding a more rugged, reliable and lower-cost product. Designed with an open architecture, PowerModules allow original equipment manufacturers (OEMs) to choose between proprietary device control software or pre-installed software provided by American Superconductor for their specific application. American Superconductor has fielded hundreds of 250-kilowatt PowerModules in its commercial superconducting magnetic energy storage Superconducting Magnetic Energy Storage (SMES) systems store energy in the magnetic field created by the flow of direct current in a superconducting coil which has been cryogenically cooled to a temperature below its superconducting critical temperature. (SMES SMES Superconducting Magnetic Energy Storage SMES Strategic Missile Evaluation Squadron SMES Saint Margaret's Episcopal School (San Juan Capistrano, California) SMES St. Marys Elementary School ) systems. Two SMES systems recently installed in a 1,500-megawatt (MW) power grid operated by Entergy Corporation near Houston each contain 32 PowerModules rated at 250 kilowatts. Combined with the 3-MW power output of a superconducting storage device, the PowerModules create an effective substation power booster - with sufficient power switching capability to protect and increase the power bandwidth of a 1,500-MW transmission grid. "We have developed tremendous know-how in hardware and software for grid interconnections - a capability we are now bringing to OEMs in the distributed and dispersed generation and power quality sectors," Yurek said. "We believe our PowerModule product line will help these OEMs reduce costs and increase effectiveness." American Superconductor American Superconductor Corporation is a world leader in developing technologies and manufacturing products utilizing superconductor A material that has little resistance to the flow of electricity. Traditional superconductors operate at absolute zero (-459.67 degrees Fahrenheit or -273.15 degrees Celsius). Experiments in the 1980s raised the temperature to -321 degrees Fahrenheit. wire and solid-state power electronic switches for the electric power infrastructure. American Superconductor's products, and those sold by electrical equipment A piece of electrical equipment is a machine, powered by electricity and usually consists of an enclosure, a variety of electrical components and often a power switch. Examples of Electrical Equipment
Certain statements in this release, including 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 the uncertainties that: the company will be able to obtain the anticipated funding from corporate and government contracts; the company will be able to successfully develop and manufacture commercial products; a robust market will develop for the company's products; and the company will secure anticipated orders. Additionally such factors include: 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; the competition encountered by the company, including several large Japanese companies This is a list of companies from Japan. Note that 株式会社 can be (and frequently is) read both kabushiki kaisha and kabushiki gaisha (with or without a hyphen). See that article for more details. ; the amount and timing of the company's future cash requirements and the availability of satisfactory financing sources. Reference is made to these and other factors discussed in the "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operation" section of the company's periodic reports filed with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's estimates as of June 19, 2001. While the Company anticipates that subsequent events and developments may cause the Company's estimates 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 estimates or views as of any date subsequent to June 19, 2001. |
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