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AMERICAN SUPERCONDUCTOR ANNOUNCES EXTENSION AND INCREASED FUNDING FOR DEVELOPMENT PROGRAM WITH INCO ALLOYS

 AMERICAN SUPERCONDUCTOR ANNOUNCES EXTENSION AND INCREASED
 FUNDING FOR DEVELOPMENT PROGRAM WITH INCO ALLOYS
 WATERTOWN, Mass., March 5 /PRNewswire/ -- American Superconductor Corp. (NASDAQ: AMSC) today announced that Inco Alloys International (IAI) has extended and increased funding for the third year of the firms' joint development program, bringing total annual expenditures to $2.5 million.
 Effective May 25, Inco will step up work at its Huntington, W.Va., facility and continue its separate funding for development underway at American Superconductor.
 Inco will spend approximately $450,000 in Huntington -- nearly double the previous year's allocation -- to produce larger quantities of specialized "metallic precursor" powders used to make superconducting wires and coils. Metallic precursors are the starting material in American Superconductor's patented process for manufacturing high temperature superconducting ceramic wires that are flexible. For the current year's program, Inco has placed particular emphasis on scaling up operation of a new mill dedicated to producing and qualifying the metallic precursor powders.
 Another $1.1 million from Inco will be used at the Watertown headquarters of American Superconductor to continue development work on the process of converting powders into superconducting wires. Direct funding by American Superconductor brings annual expenditures to $2.5 million, in contrast to a total of $1.4 million the previous year.
 "We're seeing a pressing need to step up powder production," said Don DeBord, IAI Vice President of Technology. "The increased funding will allow us to accelerate both the research and manufacturing engineering efforts at both sites, and let us begin to tap the potential of the metallic precursor process for making wires that have commercial value."
 The current agreement between American Superconductor and IAI was initiated in 1990 to develop and scale up the processes required to manufacture the long lengths of superconductors needed in commercial applications. To date Inco's support has led to wires with highly detailed internal architectures, a development that yields flexible and durable superconducting wires. In addition to its role in the joint development program, Inco's parent company, Inco, Ltd., has an equity investment in American Superconductor.
 "This focus is consistent with what we thought would be required if we met our technical goals during the early part of the program," "Inco's increased support is a clear indication of how we anticipate accelerating the wire development process over the next year."
 Inco Alloys International Inc. is the world's largest producer and developer of high nickel alloys. IAI has manufacturing facilities in England and the U.S., and has sales and marketing representation throughout the world to support applications in the aerospace, electronic, marine, power and chemical industries. IAI uses its strong position in technology and materials innovation to expand into new areas of materials and process development to develop new high-value-add ed business.
 American Superconductor creates and develops materials and manufacturing processes for making flexible high temperature ceramic superconducting wires -- a class of materials that are exceptionally efficient at conducting electricity and in producing magnetic energy. The firm manufactures a broad range of high temperature superconductors, marketing them in the form of wires and electromagnetic coils for use in the development of commercial and defense applications such as electric motors, power cables and electromagnetic devices.
 -0- 3/5/92
 /CONTACT: Gregory J. Yurek of American Superconductor, 617-923-1122; or Jack Jackson or Katherine Leavenworth of Miller Communications, 617-536-0470, for American Superconductor/
 (AMSC) CO: American Superconductor Corporation, Inco Alloys International ST: Massachusetts IN: CPR SU:


EG -- NE001 -- 5258 03/05/92 08:31 EST
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Publication:PR Newswire
Date:Mar 5, 1992
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