American Superconductor announces plan to launch first commercial product in 1997; Ultra-Compact CryoPower(TM) equipment will provide cost-effective means for power control.WESTBOROUGH, Mass.--(BUSINESS WIRE)--April 5, 1995--American 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. Corp. (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 that it expects a 1997 launch of its first commercial product -- ultra compact, high-efficiency equipment used for the conversion and control of electric power. American Superconductor's CryoPower(TM) devices integrate high temperature superconducting su·per·con·duct·ing adj. Having, exhibiting, or capable of superconductivity: "a revolutionary superconducting magnetic propulsion system" Colin Nickerson. (HTS HTS Heights HTS Harmonized Tariff System HTS High Throughput Screening (biomolecular assay screening) HTS High-Throughput Screening (Pharmaceutical Industry) HTS Harmonized Tariff Schedule ) inductor inductor, electric device consisting of one or more turns of wire and typically having two terminals. An inductor is usually connected into a circuit in order to raise the inductance to a desired value. coils with cryocooled power semiconductors to produce more efficient, compact and cost-effective power converters. Power converters are used for the conversion and control of electric power in many electrical applications, including all motor drives, metal and chemical processing equipment, electric trains, and power quality equipment. Greg Yurek, president and chief executive officer of 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. , said the 1997 launch will establish the company's leadership in the market for cryogenic power converters. "The global market for conventional power converters over 100kW -- the target for CryoPower(TM) equipment -- is currently estimated at more than $200 million per year and growing," Yurek said. "We expect this market to expand even further with the introduction of our CryoPower(TM) product line because of its substantially improved performance and compact size." American Superconductor expects to demonstrate a 75kW prototype converter in early 1996 -- a significant step toward the commercial version slated for market in 1997. The company received a fundamental patent on cryogenic power converters and demonstrated a 10kW device in late 1994. "Cryogenic power converters and other HTS products clearly will be important in meeting the evolving needs of the electric utility industry and its customers by enabling utilities as well as consumers to upgrade their infrastructures and lower operating costs operating costs npl → gastos mpl operacionales through the use of equipment that is smaller, lighter and more efficient," said Dr. Thomas Schneider, executive scientist at the Electric Power Research Industry. EPRI EPRI Electric Power Research Institute EPRI European Parliaments Research Initiatives , which represents more than 700 utilities across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , is working with American Superconductor on the funding and development of several HTS applications. "Our development of this technology leverages the company's strengths in power engineering and cryogenic integration as well as intellectual property, and is synergistic with the other electrical utility products we are developing," Yurek said. "Following our 1997 launch of CryoPower(TM) products, the company expects to begin introducing additional commercial HTS products within a year." American Superconductor's HTS products include power transmission cables, industrial motors and generators, transformers, current limiters and magnetic energy storage devices. American Superconductor Corp. is the leader in developing commercial applications of high temperature superconductor technology to meet the needs of the evolving electric power industry. The company creates and develops materials and manufacturing processes for making flexible high temperature superconducting wires, wire products and systems. CONTACT: American Superconductor Corp. Ramesh Ratan, 508/836-4200 or Makovsky & Co. Gary Terpening/Rob Swadosh, 212/532-6300 |
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