American Superconductor Corporation (NASDAQ: AMSC), a leading energy technologies company, today announced that it has received more than $3 million in orders for its wind turbine core electrical components and systems from two AMSC Windtec customers: China’s CSR Zhuzhou Electric Locomotive Research Institute (CSR-ZELRI) and Canada’s AAER, Inc.
AMSC’s electrical systems enable wind turbine operation by controlling power flows, regulating voltage, monitoring system performance and controlling the pitch of wind turbine blades to maximize efficiency.
"These most recent orders demonstrate AMSC Windtec’s unique ability to get new wind turbine manufacturers up and running quickly in a dynamic marketplace," said Greg Yurek, founder and CEO of AMSC. "With ZELRI placing repeat orders for electrical systems and AAER making its first purchases, our customers are signaling the commencement of their production ramp ups to meet the growing demand for zero-emission wind turbines worldwide."
CSR-ZELRI Order
Located in Zhuzhou City in the Hunan province of China, ZELRI purchased a license in January 2007 for AMSC Windtec’s 1.65 megawatt (MW) WT1650 wind turbine design. Under the license agreement, ZELRI agreed to pay AMSC a multi-million-dollar upfront fee as well as a royalty payment for each WT1650 system installed. AMSC also has a right of first refusal to provide the electrical systems for each WT1650 manufactured by ZELRI.
AMSC received its initial order from ZELRI for electrical systems for 10 wind turbines in September 2007. ZELRI has now placed an order for electrical systems for 20 additional wind turbines. ZELRI recently began testing a prototype WT1650 wind turbine at a location south of Changsha, China. The wind turbine successfully passed trial operation after being connected to the grid in November 2007, just 10 months after ZELRI engaged AMSC Windtec. ZELRI expects to complete prototype testing and begin shipping wind turbines to customers in mid 2008. The company expects to manufacture more than 100 WT1650 wind turbines in 2009.
AAER Order
Located in Quebec, AAER Inc. is Canada’s first wind turbine manufacturer. The company recently ordered 10 electrical systems from AMSC for its first 1.5 MW wind turbines. AAER Inc. plans to begin manufacturing these turbines in 2008. In October 2007, AAER purchased licenses from AMSC for AMSC Windtec’s WT-2000sg, a proprietary 2 MW wind turbine design. AAER plans to manufacture, sell and commission those wind turbines in Canada, the United States, Mexico, France and the United Kingdom, according to a release.
In addition to multi-million-dollar upfront license fees for the WT-2000sg, AMSC will receive royalties for every WT-2000sg wind turbine commissioned by AAER and will sell to AAER the electrical systems essential to the operation of the turbines.
About American Superconductor
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 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 a 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 GridsTM technology, 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.
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